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One of the issues raised at the royal commission into banks was the size of salaries and bonuses paid to senior staff. Subsequent discussion has tripped lightly around the issue. The larger question is whether it is in the best interests of financial institutions to offer to its senior officers huge salaries and bonuses.
Recent airing of shocking treatment of elderly residents in Australian aged care facilities has led Scott Morrison to announce a royal commission. Sadly, the allegations of abuse and appalling conditions are not new. What has resulted in poor outcomes for vulnerable citizens, and why have we permitted such treatment to go on?
The corporations have had it their own way for most of this century but two recent events have startled them. One is the election of a US president who says he is an economic nationalist. The other was Brexit. The battle lines have been drawn between a unipolar, American dominated world and a multipolar world.
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.
Australians have been caught up in yet another data project whose design confounds even the most basic notions of privacy. My Health Record is the latest example of a system that lures us with proclaimed benefits and convenience, but enhances government power without balancing responsibilities to ensure citizens' civil liberties.
The Fitzroy Soup Van is in good hands because its people recognise the tension between the need for compliance with security and safety regulations and the call to draw close to people whose lives are lived beyond those boundaries.
Trump's destruction of the architecture of international trade agreements and reversion to protectionism will expose the complexity of globalisation, but is unlikely to have the effect he is aiming at, which is to bring investment capital, and jobs, back to his country.
Over this last week, two remarkably contradictory things happened in Canberra. The Attorney-General shepherded through some of the most significant changes to foreign interference laws in recent times. It was also reported that he signed off on charges laid against Witness K, a former officer of ASIS, and his lawyer.
If you accept the tenets of individualism, you are going to struggle to see why we should have anything but the most minimal level of taxation, and you wouldn't hold that taxation should be progressive to be fair. But the reality is that inequality is a political failure; not a personal one.
Just in time to arrest ponderous musings about Western Civilisation, up jumps Denniss' cheeky funeral oration for the neoliberal settlement. His target is the assumption that an economy based on unregulated competition between individuals will benefit society. He does not spend time arguing with the theory, but points to the results.
While the threat from automation is often overstated, there are big technological shifts occurring which are undermining job security. But the experience is that work is created as well as displaced by new technology. Change in social relationships, not technology, explains what is happening in labour markets today.
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.