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Keywords: Finance

  • RELIGION

    A stringent critique of financial abuse

    • Bruce Duncan
    • 30 May 2018
    5 Comments

    The Vatican has launched a stringent critique of abuses in global economies, abuses that are driving astonishing inequality and threatening ecological sustainability. 'Oeconomicae et pecuniariae questiones' reiterates the call for an urgent dialogue between politics and economics to advance human life and wellbeing.

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  • ECONOMICS

    Welcome to the Matrix of materialism

    • David James
    • 27 January 2018
    7 Comments

    A visitor from an earlier time would be stunned to see how much we understand the world using monetary measures. Finance has come to be considered the first reality, not defined by, or reflecting, reality. To see how this creates distortions, consider GDP, which is taken to be a reliable measure of national wellbeing, but in fact is anything but.

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  • ECONOMICS

    Bitcoin revolution is a matter of trust

    • David James
    • 30 June 2017
    2 Comments

    One of the more interesting recent developments in finance has been the creation of Bitcoin and other crypto-currencies. They are being touted as a revolution in how we think and use money. Alternately, there are many who want to go in the opposite direction, back to the gold standard. Both sides have a common enemy: money whose value is determined by government dictate. Allowing governments to dictate in this way, they argue, is the core of the problem. To a significant extent, they are wrong.

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  • ECONOMICS

    What lies beneath the finance industry's water words

    • David James
    • 05 June 2017
    10 Comments

    One thing that is rarely done is a literary-style analysis of the language used in finance and business. It can quickly reveal the sleight-of-hand, even outright deception, that plague these powerful sectors. To take one example, finance language heavily relies on water metaphors, which are deeply misleading. It is unlikely that this is done deliberately; it is more probably reification (making the intangible appear to be concrete). But its consequences have been, and remain, devastating.

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  • AUSTRALIA

    Catholic voices against runaway capitalism

    • Michael Walker
    • 20 February 2017
    20 Comments

    The presidency of Donald Trump should bring a renewed focus on the dangers of unbridled capitalism. The Catholic Church has a rich trove of teachings on the subject that have been missing in action for the past 30 years. Now is the time for a well-articulated Christian message addressing such issues as widening wealth inequality fuelled by stagnant wage growth, the privatisation of public services, the financialisation of the economy (which fuels both of those trends), and tax justice.

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  • ARTS AND CULTURE

    Antiheroes of the Bush-Cheney arms boom

    • Tim Kroenert
    • 25 August 2016

    War Dogs is the latest in a string of films from the past few years that are custom made for our cynical times; deeply ironic black comedies and dramas featuring antiheroes who profit to the point of excess off the misery of others. Where those films dealt with the finance industry and gained relevance from the backdrop of the Global Financial Crisis, this one shifts focus to the grimier world of arms dealing, in the context of Bush era conflict in Iraq and Afghanistan.

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  • RELIGION

    Catholic bishops deliver election year ethical wedge

    • Andrew Hamilton
    • 19 May 2016
    13 Comments

    The bishops speak less trenchantly than Pope Francis, who criticises sharply the assumptions and practices of neoliberal economics. But in the context of this election, they add their voice to that of those who are concerned about economic assumptions that enrich the few and exempt corporations and business from social responsibility. Their statement will encourage those who see the now notorious behaviour of banks, finance business and corporations as symptomatic of a vicious economic ideology.

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  • ECONOMICS

    Serfs sucked dry in the kingdom of banks

    • David James
    • 18 April 2016
    11 Comments

    Three finance-related events are currently gaining great attention in the media. One is the so-called Panama Papers. Another is the proposal to have a royal commission into the banks. And a third is the furore over the unaffordability of homes and the debate over negative gearing. On the surface they would seem to be quite separate issues. But all three issues demonstrate yet again that banks are, if not the most malign organisations on the planet, then certainly among the most dangerous.

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  • AUSTRALIA

    Down to The Wire: How SIBs can save social programs

    • Gabriela D'Souza
    • 02 March 2016
    5 Comments

    Social impact bonds are a type of impact investing: investing for results. A community service provider who wants to pilot or scale up an existing program can use SIBs to finance their projects. A bond issuer makes the SIBs available to private investors, who will receive the principal with interest if the program attains a predetermined success rate. While modified versions of this model are being trialled in NSW, the heartbreaking fourth season of HBO's The Wire sheds light on how they might work.

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  • ECONOMICS

    Labor's negative gearing heroics alone won't save us

    • David James
    • 26 February 2016
    8 Comments

    It is not often that federal political parties exhibit courage. Labor's decision to change the rules on negative gearing is a rare instance. It targets what is most dangerous and unfair in our financial system. Expect howls of protests from powerful lobby groups if it ever looks like becoming policy. But these changes alone won't be enough to deal with the ills of the financial system. While they are designed to target the bias away from productive investment, they won't remove the attraction towards property.

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  • ECONOMICS

    New world order of gas and finance

    • David James
    • 15 December 2015
    3 Comments

    In the early 1990s, America, Europe and Japan accounted for about 90 per cent of world GDP. Now, they account for less than half. The BRICs and other developing nations have grown steadily (in China's case spectacularly) while Europe has stagnated and America has sputtered at best. Recent developments in the geopolitics of fossil fuels and in finance confirm the perception that the rise of China and the developing world spells the end of US global hegemony. Against this backdrop, the narrative of the West has grown increasingly incoherent.

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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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