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Keywords: Wealth

  • AUSTRALIA

    Intergenerational fairness goes beyond economic competition

    • Andrew Hamilton
    • 05 March 2015
    14 Comments

    'Intergenerational' goings on are stirring public consciousness. On Thursday, Federal Treasury publishes its five-yearly Intergenerational Report. It provides a framework within which legitimate questions about winners and losers can be addressed, by including action on climate and narrowing wealth and international cooperation, rather than viewing society as merely the playground of competing individuals.

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  • AUSTRALIA

    Don't forget it's 'World' AIDS Day

    • Andrew Hamilton
    • 01 December 2014
    7 Comments

    World AIDS Day encourages us also to think of Africa, the continent most afflicted by AIDS. Cultural and economic factors are also significant, including the need for men to live far away from home in order to find work, and women driven to sex work. It is an issue of fairness, making us ask people in wealthier nations owe to those in poorer nations.

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  • ECONOMICS

    Why the rich are getting richer

    • David James
    • 19 November 2014
    6 Comments

    Investing capital in the production of goods and services may create jobs, but it's not the best way to make money. It's more profitable to manipulate the financial system to create more money from money, which is why the finance sector does so well. The polarisation of wealth is less extreme in Australia, but we have our own capital-driven Ponzi scheme - the residential property market, which has become an exercise in making money out of money. 

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  • RELIGION

    Which bishop is challenging the bank on fossil fuels?

    • Jill Sutton
    • 12 November 2014
    3 Comments

    There has been an avalanche of divestment, including from the Rockefellers and the ANU, as they discern a lack of concern for environmental, social and governance issues. Shareholders attending Wednesday’s Commonwealth Bank AGM will hear a resolution requesting more transparency about the bank’s fossil fuel investments. But the bank’s response can seem like a game whose rules only become clear to its participants as they play it. Banks and other powerful organisations can still exploit any lack of clarity. 

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  • AUSTRALIA

    Cash for refugees shames both Australia and Cambodia

    • Andrew Hamilton
    • 23 October 2014
    24 Comments

    Cambodia's agreement with Australia to receive refugees from Nauru is moving to implementation. The UN and other critics are saying it breaches Australia’s responsibility to provide protection for refugees. Clearly the Australian Government is doing it for the political benefit and Cambodia is in it for the money. It can be compared to surrogacy agreements in which poor Asian women are paid to bear children for wealthy Australian couples. 

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  • MARGARET DOOLEY AWARD

    Inequality matters

    • Harry Maher
    • 20 August 2014
    14 Comments

    Inequality is dangerous. And inequality is at a near all-time high. At its core, the Government’s recent budget not only engenders but actively exults in the creation and maintenance of inequality, a phenomenon rapidly expanding not just in Australia, but around the world.

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  • ECONOMICS

    SMSFs offer 'pension fund socialism'

    • David James
    • 13 August 2014
    1 Comment

    In 1976 management thinker Peter Drucker said the real owners of the stock market were workers, through their pension funds. A similar broadening of ownership has occurred in Australia since the creation of compulsory superannuation. But intermediaries called fund managers still stood between the people and ultimate control of their financial destiny, until the rise of the Self Managed Super Fund (SMSF).

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  • AUSTRALIA

    Why the excluded are still waiting

    • John Falzon
    • 01 July 2014
    29 Comments

    The Government's McClure interim welfare report is predicated on the big lie that welfare is the problem and the market is the solution. The long wait of the excluded for some of the wealth and resources, for some of the hope to trickle down, is one of the most audacious con jobs in modern history. It is not misfortune. It is not a mistake. It is not the fault of the excluded. It is an attack against ordinary people who are made to bear the burden of inequality.

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  • AUSTRALIA

    Abbott's Australia beds American Calvinism

    • Lawrence Cross
    • 27 June 2014
    30 Comments

    While a number of Cabinet ministers are Christian, their policies seem to lack any Christian emphasis on caring for the poor and disadvantaged. America's interpretation of Christianity is heavily influenced by the doctrine of the theologian John Calvin, according to whom the rich who work hard for their wealth are preparing themselves for heaven, while the poor not only deserve their plight, but may well be abandoned by God.

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  • AUSTRALIA

    No, Mr Hockey, the Budget is not fair

    • Andrew Hamilton
    • 19 June 2014
    28 Comments

    Many Australians, myself included, believed that the Federal Budget was unfair. So Treasurer Joe Hockey's recent speech in defence of its fairness offers a welcome challenge. Hockey is right to insist that fairness can co-exist with gradations of wealth within society. But fairness is incompatible with gross disparity of wealth because the concentration of wealth in the hands of few people and corporations destroys equality of opportunity.

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  • ARTS AND CULTURE

    Seeing double in Hockey's dystopia

    • Tim Kroenert
    • 15 May 2014
    2 Comments

    The Double proffers a nightmare vision in which the human spirit is no match for the corrupt and corrupting power of a society obsessed with productivity and material achievement. In a week where we have seen an Australian Budget that gives favour to economic rationalism and the wellbeing of the wealthy, over that of some of our society's most needy citizens, such cynicism resonates powerfully. That is a tragedy.

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  • RELIGION

    South African lessons about racial discrimination

    • Andrew Hamilton
    • 27 March 2014
    7 Comments

    The South African experience suggests racial discrimination begins with the appropriation of wealth and power by one racial group and its consequent suppression of other groups in order to extend its wealth and power. If we are to address racial prejudice and discrimination we need to examine the way in which wealth and power are distributed and protected in society. In Australia, they are being concentrated increasingly in fewer hands.

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