Welcome to Eureka Street
Looking for thought provoking articles?Subscribe to Eureka Street and join the conversation.
Passwords must be at least 8 characters, contain upper and lower case letters, and a numeric value.
Eureka Street uses the Stripe payment gateway to process payments. The terms and conditions upon which Stripe processes payments and their privacy policy are available here.
Please note: The 40-day free-trial subscription is a limited time offer and expires 31/3/24. Subscribers will have 40 days of free access to Eureka Street content from the date they subscribe. You can cancel your subscription within that 40-day period without charge. After the 40-day free trial subscription period is over, you will be debited the $90 annual subscription amount. Our terms and conditions of membership still apply.
There are more than 200 results, only the first 200 are displayed here.
A shift is afoot in the west's financial markets that represents the most important economic change since the emergence of the new financial instruments in the 1990s that ultimately led to the global financial crisis. It is likely to result in a new way of thinking about money, which will change the substructure of developed economies.
Dance and music are as innate as breathing. Babies dance while in the womb, and the Yuletide can be prime time for 'playing music, singing and dancing [as a] healthy outlet for their emotions'. As William Stafford observed, kids dance 'before they learn there is anything that isn't music'.
The uncertainties are not ended by last week's announcement. The statement only vaguely signals that the Department will 'work' with recipients to identify 'further proof points'. What constitutes a 'proof point'? The government needs to disavow its past conduct in a much deeper, detailed and clear way. Instead, it has gone silent.
At the next global financial crisis, when questions about what we want our monetary system to do for us become a matter of survival, why not devise a transactional system that is not just geared towards the consumption of goods and services, but involves monetary exchanges for social goods, such as sustainable production, or civic benefit?
If government is concerned for citizens' wellbeing, it should properly resource services — drug and alcohol support, parenting support, subsidised childcare, education and so on. Instead, it is generating a system of social credit: rewarding those who toe the line and punishing those whose 'score' falls below that of the 'good citizen'.
I was heartened by the announcement Gordon Legal is pursuing a class action for robodebt victims. I am one of hundreds of thousands of people who has gone through the robodebt process. I too felt the exercise of a reverse burden of proof; guilty until proven innocent.
It is easy to blame the financial sector — and the governments that were supposed to oversee the financial system but instead just washed their hands of it — for creating this global debt debauch. They certainly bear much of the responsibility. But in many ways the financial misbehaviour is as much symptom as cause.
A policy genuinely in support of moving into employment would not seek to capitalise on the ambiguity of accounting in the year of transition from welfare to work — which is effectively what robodebt does.
One of the ironies of the intensifying tariff war between America and China is that that neither of the two giants seems to have a viable economic model. Both countries' systems are based on dodgy financial engineering and printing money, or just inventing new types of money out of thin air.
While the current economic climate is cause for concern, it is not the time to panic. A more sensible alternative to austerity is for governments, business, unions and charities to look for ways we can together soften the impact of any global downturn. This will require bipartisan agreement to sacrifice some or all of the budget surplus.
According to anecdotal evidence, Pauline Hanson arrived at Uluru, climbed up to 'chicken rock', slid back down on her backside and then, later, met with some Anangu elders to 'get permission' to climb Uluru. The disrespectful farce was but one illustration of how the week went when it comes to showing respect for Indigenous rights and views.
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.