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'Rohan provides a detailed and accurate analysis and history of the word games that have gone on between the Vatican and the Latin American bishops and theologians wrestling with the concept of the preferential option for the poor.' Frank Brennan launches The Preferential Option for the Poor: A Short History and a Reading Based on the Thought of Bernard Lonergan, by Rohan Michael Curnow.
As the Pope and economist Thomas Pikkety have observed in recent times, the inequity created by capitalism is a growing concern. But the problem with this argument is that 'capitalism' is too broad a term. The attack would be far better directed against the financialisation of developed economies. A new type of sovereign has emerged, and like all rulers they are cheerfully engaging in acts of plunder.
Pope Francis and Julie Bishop both spoke this week, with passion and within days of each other, about how to address poverty in the world's poorest countries. Bishop launched a framework of new performance benchmarks, and her desire to improve accountability and transparency in Australia's aid program is to be commended. Hopefully the framework holds the voices of the poor and marginalised at its centre.
The superannuation industry inhabits a cosseted world in which the money pours in thanks to a combination of government compulsion and tax concessions. The foundations of this empire are criticised for how the tax concessions create an expensive form of upper class welfare, and for the harmful effect of compulsory super's artificial expansion of the finance sector. The Abbott Government shows scant concern about either aspect.
When I first proposed what was to become Jesuit Communications, the organisation that now publishes Eureka Street, Julian Slatterie was the first to respond. 'Now Michael,' he said. 'This proposal rests on five assumptions and three presuppositions and if any of them is voided, the project is likely to fail.' He answered that hesitation with 25 years membership of the board. Julian died suddenly of a heart attack last Tuesday.
The 2014 Federal Budget has created a new hierarchy of virtue in Australian society, with well off investors deemed to be good and the disadvantaged bad. It is not so much class war as a war between capital and the rest of society. Those wielding significant capital are useful, while those who can save little, and have little to invest, are considered a burden.
The Independent Commission against Corruption in New South Wales continues to provide stunning insights into the compromised relationship between the major political parties and government in that state. It has moved on from Labor to the Liberal party and from political lobbying to political donations. But the essence of the story remains the same. Casual self-interest reigns, and the culture of political life at the top-end is corrupted.
Removing the requirement that financial advisers act in the best interest of their clients will reveal financial advisers for what they really are: salespeople for the banks' wealth management platforms. Tony Abbott argues that the changes will remove 'red tape' and declaimed: 'We're creating the biggest bonfire of regulations in our country's history.' This is a duplicitous use of language that misunderstands how the finance sector works.
The arrest last week of three identifiably religious people drew attention again to Whitehaven's new coal mine site at Maules Creek, in northern NSW. Why did these people of faith feel it was time to put their bodies on the line? Simply put, when the law is fully harnessed to keep in place a system that many consider to be immoral, the most ethical action is peaceful, non-violent disobedience.
In the face of the Federal Government's resolve to be unemotional in its attitude to financial assistance for Qantas, we have Bill Shorten warning us against 'waving goodbye to an Australian icon'. Underlying mention of Qantas as an 'Australian icon' could be the sentiment associated with the 1990s resurgence of nationalism and its racist undertones associated with Pauline Hanson.
With the Australian economy in disarray, the Abbott Government is showing keen interest in New Zealand's projected unusually high growth. But NZ's status as a rock star economy is in question from commentators who say it has never recovered from major policy shifts 30 years ago. In particular its sexy image on the global business stage does not translate to a better life for those on low incomes, particularly women and children.
The ANZ Bank faces a huge payout after a class action by its customers secured a partial but significant victory against the bank's unfair and illegal credit card late payment fees. This is happening because we have laws to protect consumers. The Federal Government is well advanced in its efforts to wind back existing and planned laws that protect consumers, as they are considered red tape that places an unnecessary burden on business.
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