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The recent furore about Donald Trump's imposing of tariffs on steel, from which Australian companies have been exempted, raises an interesting question about the economics discipline. Which is better, an oxymoron or a tautology?
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.
The ongoing talk of war with North Korea and the threat of nuclear weapons has everybody dusting off their copies of Dr Strangelove and rewatching that classic black farce of innuendo, misunderstanding and paranoia in an age of Mutually Assured Destruction.
Last year I spent Christmas at St Andrew's. There was incense, holy communion and a whole heap of stuff that would horrify many Sydney Anglicans. Which is their bad luck because this St Andrew's was the Cathedral Church of the Tokyo Diocese of the Nippon Sei Ko Kai. I doubt Henry VIII imagined a diocese with a name like that!
Once upon a time, usury was considered a sin and lending was subject to strict controls. Now, the world is in the grip of usury. It cannot continue. At some point it will have to be retired, or swapped to equity. A good place to start is third world debt, which is the most immoral variant.
The conflict has finished, but a stubborn and deluded band of stragglers, led by their belligerent General, Tony Abbott, don't want to believe it. Abbott is behaving like the infamous Imperial Japanese officer Hiroo Onoda, who refused to accept his country's surrender in 1945 and spent a further 29 years fighting phantom enemies in a remote tropical jungle.
In the 16th century it was the Dominican friars like Vitoria, Las Casas and Montesino in Salamanca who confronted the state and challenged public opinion about the rights of the indigenous peoples in Spain's newly colonised lands. Not even the most nostalgic and forgiving Jesuit would opine that the modern practitioners of Morality with a capital M challenging the powers of the market and the state would be found in a modern monastery.
It seems like immigration hasn’t been seen in a positive light of late. Control over immigration has been a central theme in the successful Brexit bid in the United Kingdom. America elected a president who suggests tougher laws and screening for immigrants. Syrian refugees were welcomed by the thousands into Canada (46,700 in 2016 alone to be exact) not without considerable controversy.
The anti-Russian frenzy in the United States amounts to little more than a great deal of evidence that the intelligence community suspects there might be a great deal of evidence that the Russians have been meddling. It has to rank as one of the biggest, and most orchestrated, blind alleys of modern media coverage. When a journalist says an anonymous ‘respected source’ thinks the Russians are up to something, this writer is always left wondering: respected by whom? His dog?
The daily fluctuations of financial markets and the fractious debates over economic policy are concealing something deeper and much more disturbing. The future of money itself is in question. A decade after world banking almost collapsed in the global financial crisis, the questions raised have not been answered.
When I wrote recently that the future of work lies in understanding work as 'pleasure in the exercise of our energies', one reader noted 'these discussions have little meaning when you are poor or dispossessed'. Spending your life doing what you are competent at pales into insignificance when set against the prospect of a life engrossed in one's passions. That is a decision that every worker has it within their power to make. And as it turns out, it should be a concern of the unemployed, too.
73-84 out of 200 results.