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Search Results: GDP

  • ECONOMICS

    The big, bad business of America's war industry

    • David James
    • 20 April 2018
    6 Comments

    As the West flirts with starting World War III in Syria, it is worth examining some of the financial and business dynamics behind the US 'military industrial complex'. War may not be good business, but it is big business. And in contrast to Russia and China, the industry in the US is heavily privatised, including the use of mercenaries.

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  • ENVIRONMENT

    Another page torn from the glossary of life

    • Fatima Measham
    • 29 March 2018
    10 Comments

    The last male northern white rhinoceros was euthanased in March. With two females still alive, there is hope the subspecies might be saved. The impending loss of an animal that evolved over six million years, and once grazed in hundreds of thousands, is worth noting. There can be room in our hearts to lament.

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  • ECONOMICS

    Dispelling lazy thinking on trade deals

    • David James
    • 20 March 2018
    6 Comments

    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?

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  • RELIGION

    Bringing humanity back to the cult of numbers

    • Andrew Hamilton
    • 14 March 2018
    16 Comments

    At the heart of Pythagoras' contribution was wonder at a world in which human intelligence could understand and handle such different phenomena as music, architecture and the stars through mathematics. The cult of numbers in a cruder form remains characteristic of public life today. The most revered numbers are economic.

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  • ECONOMICS

    No economy of exclusion and inequality

    • Joe Zabar
    • 27 February 2018

    'Francis' statement is not one merely for theological or academic contemplation. It is in effect Francis' call to establish a new benchmark for our economy, one where exclusion and inequality are no longer a natural and accepted consequence of its operation.' Director of Economic Policy for Catholic Social Services Australia addresses the CSSA annual conference in Melbourne, February 2018.

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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

    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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  • AUSTRALIA

    Turnbull's magic budget bowl is a fantasy

    • Joe Zabar
    • 07 December 2017
    5 Comments

    Many of us have grown up with Norman Lindsay's classic tale of the magic pudding; the pudding bowl that never empties no matter how often the pudding was eaten. It seems that the magic pudding bowl has been borrowed by the federal government, if the proposed new business and income tax cuts are anything to go by.

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  • ECONOMICS

    In the end, debts cannot be paid

    • David James
    • 08 November 2017
    3 Comments

    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.

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  • ECONOMICS

    Towards an economy that works for all

    • Frank Brennan
    • 18 October 2017
    10 Comments

    The promise of riches from the trickle-down effect is at best patchy for many Australians, and non-existent for others. Continuing with the same economic and social policy settings will exacerbate the already growing divide between the rich and the poor and eventually damage the economy to such an extent that it has a detrimental effect on everyone.

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  • ECONOMICS

    Where is money headed?

    • David James
    • 30 July 2017
    2 Comments

    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.

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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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