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Keywords: Gfc

  • ECONOMICS

    Economic doom looms in Oz's game of homes

    • David James
    • 12 December 2017
    1 Comment

    It is not difficult to imagine a scenario where the game of musical chairs in Australia will come to a shuddering end, imperilling the banks and dragging the economy into a deep recession. As we saw in the GFC in America and Europe, government money will be thrown at the banks to rescue them at the expense of ordinary citizens.

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  • PODCAST

    ChatterSquare: Osmond Chiu on navigating post-GFC polarisation

    • Podcast
    • 18 July 2017

    When UK Labor leader Jeremy Corbyn appeared to some acclaim at Glastonbury Festival, it triggered some amount of pining in Australia. Why do we not have someone like that? With Osmond Chiu, the Secretary of the NSW Fabians and Deputy Editor of Challenge magazine, we unpack what this sentiment is about and whether it gets to the heart of what is wrong with our current politics.

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  • AUSTRALIA

    We are all neoliberals now

    • Tim Robertson
    • 20 April 2017
    13 Comments

    One of the challenges for progressive parties is to look beyond the existing neoliberal framework for solutions to the current malaise. Labor is so steeped in neoliberal orthodoxy that, even if it was willing to evolve, it's likely incapable of doing so. And while much of the intellectual heavy lifting in forming a picture of what a post-neoliberal future may look like will be done outside organised politics, Labor remains completely unengaged with almost all of these debates.

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  • ECONOMICS

    Deconstructing the privatisation scam

    • David James
    • 04 April 2017
    13 Comments

    It is increasingly evident how pernicious the privatisation myth is. Two recent examples have underlined it: the failings in Australia's privatised energy grid and the usurious pricing in airport car parks. Both demonstrated that it is folly to expect a public benefit to inevitably emerge from private profit seeking. The purpose of government funded public infrastructure is not to make profits but to lower the cost of doing business, sometimes called the socialisation of the means of production.

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  • INTERNATIONAL

    Bread and circuses in modern Australia and America

    • Julie Davies
    • 24 January 2017
    11 Comments

    I can understand the Trump phenomenon. Hard-working Americans and many Australians are blaming various minorities as responsible for their decline. They are being blinded to the real culprits: our own governments and their wealthy backers. Juvenal's 'bread and circuses', designed to keep the people docile and distracted in Ancient Rome, have been updated to Maccas and manufactured news. And hatred. Are we so easily manipulated? Is the American model the future Australia wants for itself?

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  • ECONOMICS

    Hollowed out labour market stymies equal opportunity

    • Veronica Sheen
    • 13 December 2016
    5 Comments

    Over the last two decades we have seen a process of job polarisation. There has been growth in high end jobs, but mostly in low end jobs, the outcome of which has been the hollowing out of middle level jobs. This hollowing out of the middle also relates to greater wealth polarisation, as French economist Thomas Piketty has brought to light. The labour market is under a lot of pressure from many angles, so what does this mean for the project of women's equal opportunity in employment?

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  • INTERNATIONAL

    The merits of Trump's economic agenda

    • David James
    • 09 August 2016
    15 Comments

    The main legislative catalyst for the GFC was the repeal, in 1999 by Bill Clinton, of the Glass Steagall Act, which had prohibited commercial banks from engaging in the investment business. This allowed the investment banks to indulge in the debauch of financial invention that almost destroyed the world's monetary system. Trump has made the reinstatement of Glass Steagall official policy. Should that happen, it could be the most beneficial development in the global financial system for decades.

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  • INTERNATIONAL

    Beyond the myth of the rational voter

    • Fatima Measham
    • 01 July 2016
    8 Comments

    When the democratic exercise is no longer the aggregate of informed, reasoned choices, but a matter of mood, then the business of persuasion - politics - becomes far less about ideas and more about momentary catharsis. This shifts the function of politicians and government, from leading and dispensing equity to masturbatory aid. Even so, there are questions worth asking. But at whose expense are public moods assuaged? After catharsis, what happens next?

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  • INTERNATIONAL

    Leave Europe arguments betray cultural amnesia

    • Andrew Hamilton
    • 23 June 2016
    19 Comments

    Some commentators in the Australian media have welcomed the prospect of Britain's leaving the EU. The founders of the union would recognise these commentators' hoped-for changes. They are precisely the conditions that contributed to the wars that they so feared: the xenophobia, disregard for human rights, chauvinism, military adventures entered by individual nations and competitive economic policies that alienated citizens and so bred authoritarian and ideologically inspired leaders.

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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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  • INTERNATIONAL

    Why Australia is missing the revolution

    • J. R. Hennessy
    • 19 February 2016
    24 Comments

    The aftershocks of the late-century push for liberalisation and the GFC have bred generations of dislocated voters who seek answers outside of the limited solutions of centrist governance. This provides ample opportunity for true progressive change, as seen in Europe and Latin America, and now the US and UK. Where's Australia? Nowhere to be seen. It is hard to imagine a truly progressive candidate emerging from our ossified political structures. There are a few reasons for this.

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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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