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Keywords: Economy

  • AUSTRALIA

    A tale of two refugees

    • Kerry Murphy
    • 20 June 2016
    2 Comments

    Mustafa speaks very good English, and his professional skills are going to help him get work in Australia. He is not going to take an 'Australian's job' - he will work and contribute to the economy, as we all try to do. Ali's situation is far less certain. He came on a boat after being approved as a refugee by the UNHCR in Indonesia. He saw no movement in resettlement from Indonesia so he came to Australia. He is one of the thousands who, if they can prove their refugee case, only get a temporary visa.

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  • AUSTRALIA

    Banking royal commission is popular, not populist

    • Andrew Hamilton
    • 26 May 2016
    7 Comments

    The evidence of misbehaviour by banks has become public at a time when the underlying ideology has also been criticised. The inherent unlikelihood that an economy based on individual greed will benefit the whole of society is now patent. It is seen as much more likely that unregulated competition for material gain will lead to the concentration of wealth in the hands of the wealthy and powerful. Evidence now suggests that inequality hinders the economic growth it was presumed to nurture.

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  • AUSTRALIA

    What kind of society does this budget enable?

    • Andrew Hamilton
    • 12 May 2016
    5 Comments

    It is important constantly to move from the budget to consider the plan it enables. If the budget is for the whole nation, it should look to the good of all, with each person and business having a responsibility for the good of others, particularly the most vulnerable. When budgets are constructed in such a way that the cost of their balancing is gross inequality and the exclusion of vulnerable people from participation in society, they should be rejected. They do not serve but betray the economy.

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  • AUSTRALIA

    Another Coalition budget for the well-off

    • Marcelle Mogg
    • 05 May 2016
    18 Comments

    Even the International Monetary Fund recognises that the best way to grow an economy is to reduce the divide between rich and poor, ensuring that all people have a chance to participate in the social and economic life of a country. The Coalition government remains resolutely opposed to this growing body of evidence, continuing to rely on economic structures that entrench disadvantage, then blame the poor for their fate. The Budget provides tax cuts to the rich and service cuts to the rest.

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  • ECONOMICS

    Consequences loom for global debt binge

    • David James
    • 19 January 2016
    11 Comments

    Low interest rates tend to change the understanding of risk; having high debt seems to be less of a problem because the cost of servicing it is lower. This cavalier attitude has been especially evident in Australian households, which have racked up more debt relative to the size of the economy than any other country in the world. The massive appetite for debt has been replicated across the globe. The world may have survived the era of casino money - just - but it is now facing another crisis.

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  • AUSTRALIA

    Corporate benefit trumps public welfare in TPP

    • Binoy Kampmark
    • 07 October 2015
    3 Comments

    According to WikiLeaks, the Trans-Pacific Partnership is the 'icebreaker agreement' for what will be a 'T-treaty triad' which will ultimately apply to 53 states, 1.6 billion people and two-thirds of the global economy. Each of the countries was being sold the implausible idea that the agreement was too large not to sign, that this was the train of history that needed to be occupied, even if seating was in third class. What was on sale, however, was a dogma of corporate benefit rather than public welfare.

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  • ECONOMICS

    Chinese economy a work in progress

    • David James
    • 14 September 2015
    1 Comment

    The recent ructions in the Chinese stock market set off great consternation in global financial markets, but for the most part this was a display of ignorance. One of the reasons China’s influence on global markets has been so beneficial, since at least 2007, is that its economy and financial markets are so different.

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  • ECONOMICS

    The IMF has failed Greece

    • David James
    • 01 July 2015
    6 Comments

    International Monetary Fund prescriptions have a long history of failing, and countries that ignore them are often the ones that do surprisingly well. Few have been asked to be more servile than the Greeks. When the IMF came in with what is amusingly referred to as its austerity 'plan', the Greek economy was expected to grow at over 2 per cent. After the 'plan' had taken effect, the country’s economy had shrunk by a quarter.

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  • ARTS AND CULTURE

    Greeks suffer as leaders quarrel

    • Gillian Bouras
    • 23 June 2015
    6 Comments

    My youngest son, who lives in central Athens, is on the phone. ‘What do you think I should do with my money?’ he asks. The New York Times likens Europe and Greece to two prize-fighters, but I suspect that this is a male take on the matter. The women on the scene, Chancellor Angela Merkel and IMF chief Christine Lagarde, are more or less playing the part of the firm mother to naughty, quarrelling boys.  

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  • ARTS AND CULTURE

    A rant about America's weapons fired economy

    • Brian Doyle
    • 17 June 2015
    22 Comments

    Here's a story. A man who was a soldier in the American army in Iraq tells it to me. A friend of his, one of his best and closest friends, was nearly pierced through by a bullet fired by a sniper. American surgeons removed the bullet and discovered it was a 5.56mm cartridge manufactured in Lake City, Missouri. For profit.

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  • ECONOMICS

    Ukraine conflict heightens global economic split

    • David James
    • 28 April 2015
    2 Comments

    The conflict in the Ukraine has attracted a great deal of attention for its geo-strategic implications. Less noticed have been the economic implications. The sanctions placed on Russia have forced Russia to become even closer to China, and the alliance between a military superpower and an economic superpower is beginning to split the global economy in two. It may come to represent the biggest geo-economic and geo-political shift of the first half of this century, defining much of the future landscape.

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  • AUSTRALIA

    How super hurts the poor and middle income earners

    • Brian Toohey
    • 27 March 2015
    6 Comments

    Although the age pension will cost about $49 billion in 2017-18, it is means tested. In contrast, superannuation concessions are heavily biased in favour of high income earners. Both sides of politics pander to the wealthy and the cosseted finance sector, which want certainty that nothing will stand in the way of their super bonanza.

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