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There really is no such thing as ‘capitalism’ — or rather there are so many capitalisms that the word is altogether too imprecise to be useful. A much better term to identify the problems, even evils, of modern developed economies is ‘corporatism’. This can be precisely identified and its transgressions and general harm are getting worse.
Australian governments and judges have been playing catch up for a long time trying to deal with the backlog of claims for migrant visas. A couple of recent judgments highlight the frustration at work in the system.
In its Christian context, Easter Sunday celebrates the rising of Jesus to life. It follows his brutal execution on Good Friday after rigged trials. Good Friday this year occurs at the beginning of April, a month which Pope Francis dedicated to prayer for ‘those who risk their lives while fighting for fundamental rights under dictatorships, authoritarian regimes and even in democracies in crisis’.
The Royal Commission was right to insist on a human rights focus to aged care. It should also be insisted on in care for people who experience mental health issues. For that focus to remain sharp, however, it must be based in attention by people at all levels of responsibility, political and managerial included, to the concrete human relationships of the people whom programs serve.
If they are to enlist the support of their people in acting responsibly in the face of coronavirus, governments must themselves practice responsibility. They must look to the good of the whole community, and especially to disadvantaged people who are at the greatest risk of contracting the coronavirus.
We live in an era of hyper-transactionalism, whereby most of what we do is subject to the exchange of money and market pricing. Whereas in the past much of humanity was bound to a political system, now most of us are bound to a globalised monetary system.
A shift is afoot in the west's financial markets that represents the most important economic change since the emergence of the new financial instruments in the 1990s that ultimately led to the global financial crisis. It is likely to result in a new way of thinking about money, which will change the substructure of developed economies.
Recognising that financial systems are a human creation rather than natural systems governed by 'capital flows' would be an important step to conceiving a more robust and equitable system. To ask what kind of society we want and only then work out what we want money to do for us is to put the horse back in front of the cart.
It is easy to blame the financial sector — and the governments that were supposed to oversee the financial system but instead just washed their hands of it — for creating this global debt debauch. They certainly bear much of the responsibility. But in many ways the financial misbehaviour is as much symptom as cause.
The problem with the discussion about nuclear energy is that it is a distraction; an ideologically driven misdirection by those who are more concerned with opposing renewables and the 'green-left' than solving our country's energy problems. Nuclear just doesn't make sense for Australia at this stage of the game.
One of the ironies of the intensifying tariff war between America and China is that that neither of the two giants seems to have a viable economic model. Both countries' systems are based on dodgy financial engineering and printing money, or just inventing new types of money out of thin air.
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