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Search Results: GDP

  • ECONOMICS

    Hapless Joe Hockey

    • David James
    • 10 December 2014
    12 Comments

    One of the fascinating aspects of Australia's political pantomime is the manner in which the Federal Treasurer is forced to metamorphose into a used car salesman who is spruiking the Australian economy. One reason for the relative impotence of the Treasurer is that the Federal government only has control over fiscal policy. Monetary policy, the interest rate, is set by the Reserve Bank, not the government.

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  • AUSTRALIA

    Harper Review's new world of public service for profit

    • Julie Edwards
    • 28 November 2014
    8 Comments

    Professor Ian Harper's Competition Policy Review could lead to radical change in the public services in which our governments invest over $184 billion (or 12.1 per cent of GDP) each year. Time-honoured public service values that include citizenship, fairness, justice, representation and participation, are threatened when services are seen as products that can be broken up and sold on the market. 

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  • AUSTRALIA

    Hun Sen's Cambodia a mirage on the Mekong

    • Tony Kevin
    • 14 November 2014
    1 Comment

    Phnom Penh is a lively, bustling, often happy city of energetic and industrious people, with amazing growth statistics. In 2004 half of Cambodians lived in poverty, and by 2011 the figure had dropped to 20%. But this belies the terrible state of public health, the corruption in education, the abuse of human rights, and much more.

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  • INTERNATIONAL

    China calls a halt to dirty coal imports

    • Evan Ellis
    • 24 September 2014
    2 Comments

    From 1 January 2015, China will ban the import of coal with high ash or sulphur content and impose a three per cent tariff on all coal imports. In the muddle of politics and policy, we have a concrete example of worsening environmental conditions forcing policy makers to act. Australia's economy propped up by coal exports, but it's also time to think beyond the specific implications of China’s proposed restrictions. 

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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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  • ECONOMICS

    Commbank plunder part of new world economic order

    • David James
    • 07 July 2014
    7 Comments

    As the Pope and economist Thomas Pikkety have observed in recent times, the inequity created by capitalism is a growing concern. But the problem with this argument is that 'capitalism' is too broad a term. The attack would be far better directed against the financialisation of developed economies. A new type of sovereign has emerged, and like all rulers they are cheerfully engaging in acts of plunder.

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  • ECONOMICS

    Super's evil empire on shaky ground

    • Brian Toohey
    • 11 June 2014
    15 Comments

    The superannuation industry inhabits a cosseted world in which the money pours in thanks to a combination of government compulsion and tax concessions. The foundations of this empire are criticised for how the tax concessions create an expensive form of upper class welfare, and for the harmful effect of compulsory super's artificial expansion of the finance sector. The Abbott Government shows scant concern about either aspect.

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  • ECONOMICS

    Blessed are the moneymakers

    • David James
    • 16 May 2014
    9 Comments

    The 2014 Federal Budget has created a new hierarchy of virtue in Australian society, with well off investors deemed to be good and the disadvantaged bad. It is not so much class war as a war between capital and the rest of society. Those wielding significant capital are useful, while those who can save little, and have little to invest, are considered a burden.

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  • ECONOMICS

    Whose liberty matters as Dickensian budget looms?

    • Fatima Measham
    • 07 May 2014
    16 Comments

    French economist Thomas Piketty argues that current conditions have set us on track for a return to 19th century-levels of inequality. The Commission of Audit proposals suggest that the auditors and the Government are keen to expedite this neo-Dickensian era. It's all done in the name of 'incentives' toward 'personal responsibility', but this cannot remain coherent in the face of those who will be hit hard by the proposed suite of cuts and co-payments.

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  • ECONOMICS

    Abbott and Hockey more Prince John than Robin Hood

    • David James
    • 05 May 2014
    11 Comments

    In politics, one should never opt for a balanced and thoughtful description of the truth when wild exaggerations will do. Especially when you want to take from the poor and give to, if not exactly the rich, at least the investor class. The dire pronouncements from the Abbott Government in response to the Commission of Audit's 86 recommendations reflect not only the PM's relentless negativity, but also more than a whiff of class war.

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  • AUSTRALIA

    Best of 2013: Australian democracy needs an intrusion of the excluded

    • John Falzon
    • 16 January 2014
    1 Comment

    Kevin Rudd says we need a 'new politics' or a 'new way'. Tony Abbott says we'll only get a new way by electing a new government. What is missing in both statements is the recognition that what we actually need is a new kind of economic democracy: a reconfiguration of our economic prioritising away from individualism towards the common good, and towards the participation of all rather than the exclusion of many.

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  • ECONOMICS

    Business voices competing for Tony Abbott's ear

    • Michael Mullins
    • 18 November 2013
    2 Comments

    Dr Maurice Newman is chairman of the Prime Minister's Business Advisory Council. It's his job to lobby for big business against, as it happens, the common good. But he is criticised even among some of his peers in the business world, particularly for his unwillingness to accept the need for a reduction in carbon emissions. Does Tony Abbott really listen to 'a range of voices' on business, as he claims?

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