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It has been a decade since the banking aristocracy Lehman Brothers filed for bankruptcy in what would be the chant of doom that became the Global Financial Crisis. Today, the legacy of Lehman Brothers and the crisis it helped precipitate supply warnings of the next shock.
Collars and ties, or lack of them, can have a specific political application. In 2007 Robert Mugabe, fearsome Zimbabwean dictator, was invited to an EU summit in Lisbon. The Anglican Archbishop of York, John Sentamu, cut up his clerical collar on television and vowed to replace it only after Mugabe had gone.
If trustees don't understand the meaning of trustworthiness, all the penalties in the world won't encourage them to act in a trustworthy manner. What is needed is conversion — the recognition that the good of each individual depends on their seeking the common good, and the determination to ensure that this vision permeates corporations.
Murray and Frijters detail what they call Australia's 'grey corruption': the grubby nexus between 'James' (corrupt business people) and governments or regulators. The Jameses thrive at the expense of the 'Bruces': ordinary working people. The games of the corrupt elite now cost the 'Bruces' about half their wages.
The imposition of 'managerialism' or 'marketisation' on universities is disastrous. So why are academics so passive when their working lives are being immiserated by the imposition of ideas, mostly derived from business or economics, that are either patently false or poor?
As the royal commission prepared to resume its hearings into financial services the Vatican released Oeconomicae et pecuniariae quaestiones, on the ethics of markets. Although written quite independently, passages of the document could have been mistaken for factual reporting of the royal commission.
The Vatican has launched a stringent critique of abuses in global economies, abuses that are driving astonishing inequality and threatening ecological sustainability. 'Oeconomicae et pecuniariae questiones' reiterates the call for an urgent dialogue between politics and economics to advance human life and wellbeing.
This is Australia's looming inequality issue. Those who can take advantage of the energy revolution will have lower bills and more comfortable living conditions during the frequent extreme weather events we'll experience with climate change. Those who can't will be left reliant on a dirty, aging and increasingly expensive electricity grid.
As the world economy groans under soaring levels of debt, the place to look is Japan, whose current government debt-to-GDP ratio is an eye watering 253 per cent. It is Japan, which led the developed world into this mess, that is likely to lead the world out of it by cancelling debt. The consequences of such a move would be far reaching.
In 2010, the UN General Assembly and Human Rights Council recognised a human right to water, guaranteeing access for everyone to 'sufficient, safe, acceptable, physically accessible and affordable water for personal and domestic uses'. Eight years on, it is past time that Australia incorporated this right into domestic law.
While it is a matter of public record the Turnbull government blocked attempts to establish a royal commission into the financial services sector on multiple occasions, the question as to why, especially when it expeditiously facilitated a similar inquiry into corruption within the union movement, is of more than academic interest.
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.