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What then, does the case for full employment look like? This is not just an economic question, but too of having access to a decent wage that allows all people to live a decent life.
Moment by moment the numbers are rising, tables of the infected and the dead on websites updated every five minutes, the relentless clicking over of lives, like so many fallen leaves in this country.
Our frontliners are usually our younger workers. They are the ones trying to pay rent or save a deposit on a house. They are the ones trying to cope with children, the costs of child care and space for their accommodation and play. And yet we depend on them in a crisis like COVID-19, and we pay them less.
Another biblical motif or metaphor may prove more fruitful in the long run: the apocalypse. No, not the end of the world, however appropriate this may feel. It’s the apocalypse but not as we know it.
To think of life after COVID-19 is daunting. The changes that it has brought to our daily lives have been vertiginous. Our awareness of its potential harm is still limited. We are only beginning to catch sight of the grim beast that slouches towards us threatening death and devastation in coming months.
COVID-19 brings many tests. Amid the health, economic and financial crises brought about by the pandemic, our greatest test is to conduct ourselves as a robust democracy and to demonstrate that we are a fair society. Neither test will be easy to pass, but we must aim to emerge at the other end as a better society.
Recognising that financial systems are a human creation rather than natural systems governed by 'capital flows' would be an important step to conceiving a more robust and equitable system. To ask what kind of society we want and only then work out what we want money to do for us is to put the horse back in front of the cart.
Treasurer Josh Frydenberg's attack on banks for failing to pass on the full rate cut to consumers is a political distraction. There are two clear signals coming out of the latest cut. First, monetary policy is not enough to spark a revival of the economy. Second, it's now all about jobs. Frydenberg and his officials would be wise to heed these signals.
The latest underspend of the NDIS budget has reached the eye-popping amount of $4.6 billion. Every single one of these dollars is a dollar not getting to disabled people. Every single dollar represents change not being delivered. It's a door being closed, a phone call not being answered. This is getting worse, not better.
A Green New Deal in Australia would mean a stronger commitment to a government-led rapid transition to renewable energy and cleaner transport, with clear programs to support transition to well-paid green jobs in places that previously relied on resource extractive industries. This isn't necessarily as expensive as it sounds.
While money can be transacted for things that are bad — air pollution, road deaths, cigarette ads — as long as more transactions occur, it creates the illusion the economy is growing, which, ipso facto, is good. Thus, Japan's GDP rose sharply after the tsunami disaster. New Zealand's initiative will track better what is really happening in the country.
Both Labor and the Coalition would be wise to consider revisiting the Howard-era Family Tax Benefits to provide targeted relief to families. Both have taken their share out of the FTB bucket as a way to balance the budget. By doing so, they have left many families worse off. The restoration of some of the cuts to FTB would be a good a start.