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Keywords: Economy

  • ECONOMICS

    The battle for the future of money

    • David James
    • 07 September 2021
    4 Comments

    There is a three-way battle looming over the future of money and the stakes could scarcely be higher. Conventional money, mainly debt created by banks — the ‘folding stuff’ is only a tiny proportion of the total — is in trouble. Total global debt is now so large relative to the world economy it cannot be serviced, which is why monetary authorities have resorted to dropping interest rates. When they almost hit zero, the next step was quantitative easing (QE): printing money by getting the central bank to buy back government and corporate bonds and putting them on its ‘balance sheet’. 

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  • AUSTRALIA

    Coming out of Coronavirus  

    • Andrew Hamilton
    • 02 September 2021
    11 Comments

    As restrictions drag on and the number of infections rises, more Australians are asking when lockdowns can cease. Federal politicians and business leaders have argued the case for a quick ending while claiming the authority of scientists. Science being science, the relevant questions have been tied to numbers. They have asked: how few cases should there be in the community before leaving lockdown? What percentage of the community must be vaccinated before the lifting of restrictions? What number of deaths should be tolerated for the gains of opening the economy? And when precisely should the opening of Australia take place?

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  • ECONOMICS

    We need to rebuild our social foundations

    • John Falzon
    • 15 June 2021
    4 Comments

    Our economy is 1.1 per cent larger than a year ago. Yet, as the situation in Victoria reminded us, none of us are safe unless all of us are safe. And we cannot be safe while work remains increasingly insecure, while social security payments are inadequate and while our public infrastructure is found wanting.

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  • AUSTRALIA

    Recognising the human value of work

    • Andrew Hamilton
    • 10 June 2021
    9 Comments

    In Victoria the latest lockdown has prompted fresh questioning of the business-as-before approach to life after COVID-19. In particular it urges renewed reflection on the connection between the remuneration of work and its importance to society.

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  • AUSTRALIA

    Rule of lucre

    • Martin Pike
    • 01 June 2021
    13 Comments

    The fact is that money still buys a better service from the legal system, and to claim otherwise is to throw out the most basic principles of an economy. After all, if there were no benefit to be gained from backing up a truck full of money and tipping 30 or 40 grand a day into a team of silks, junior barristers and top tier solicitors, why would those with the means do it? To argue the contrary beggars belief. And if the observation is accepted, what does that tell us about the rule of law?

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  • ECONOMICS

    Our economy needs democratic oversight, not the unleashing of animal spirits

    • John Falzon
    • 06 May 2021
    23 Comments

    In a recent speech to business leaders, Prime Minister Morrison made the remarkable claim that ‘we are going to meet our [climate change] ambitions with the smartest minds, the best technology and the animal spirits of capitalism.’ This is straight from the neoliberal playbook, the doxa that the role of government is to get out of the way to make room for those animal spirits so as to pander to the fantasies of the wealthy few.

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  • ECONOMICS

    The economy is never as good as it looks and never as bad as it seems

    • David James
    • 04 May 2021
    2 Comments

    But although the Coalition will never admit it, it looks suspiciously like there has been some bipartisan institutional learning about how to manage financial crises. If you want to stimulate an economy in times of crisis put the money directly into the economy, either into people’s pockets or to businesses who then pass it on to workers.

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  • AUSTRALIA

    The thin veneer of the gig economy

    • Dustin Halse
    • 27 April 2021
    9 Comments

    Behind the slick advertising and high-tech veneer of on demand apps and services lies a bleak, hazardous and often dangerous reality: tens of thousands of people are working at the fringe of the labour market as delivery riders and personal chauffeurs. When you remove all the tech, the sizzle and pop, it’s little more than modern day iteration of old-school precarious piece work arrangements.

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  • AUSTRALIA

    Are we all in this together?

    • Ursula Stephens
    • 01 April 2021
    1 Comment

      At the beginning of the Covid-19 pandemic, the government reassured Australia ‘We’re all in this together’ but the truth is that the end of JobKeeper and the Coronavirus supplement payments will leave more than 2.6 million people in poverty.

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  • FAITH DOING JUSTICE

    The value of the worker

    • Ursula Stephens
    • 25 February 2021
    13 Comments

    'It's the value of the work, not the worker.' So said a government backbencher to me last week while I was speaking to him about the omnibus industrial relations (IR) Bill that has just passed the House of Representatives.

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  • AUSTRALIA

    Property has a social license, too

    • Andrew Hamilton
    • 25 February 2021
    16 Comments

    Discussion of housing usually focuses exclusively on its relationship to the economy. Housing is seen as property, and the most important questions are seen as having to do with buying and selling. This transactional aspect is important. It needs, however, to be seen in the light of the larger human good. From that perspective housing in all the various forms it takes in different cultures is not a possession but a human need.

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  • ENVIRONMENT

    We don't have the luxury of dealing with one crisis at a time

    • Marnie Vinall
    • 12 November 2020
    4 Comments

    Since the pandemic started to show its teeth on our shores in March, there’s been a trend to wave away any other matter other than COVID-19 with an examination of, ‘Just one crisis at a time — we’ll get to climate change after we’ve got the economy back on its feet.’ The only problem is we don’t have the luxury as a nation to solely focus on one crisis at a time.

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