Keywords: David James
There are more than 200 results, only the first 200 are displayed here.
-
ECONOMICS
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.
READ MORE 
-
RELIGION
- Frank Brennan
- 03 July 2017
There is no point in proceeding with a referendum on a question which fails to win the approval of you, the First Australians. Neither is there any point in proceeding with a referendum which is unlikely to win the approval of the overwhelming majority of the voting public, regardless of when they or their ancestors first arrived in Australia. Given that you Indigenous Australians have spoken strongly through your representatives at Uluru in support of a First Nations Voice, it is now for the Referendum Council to recommend to government a timetable for constitutional change with maximum prospects of a 'Yes' vote.
READ MORE
-
ECONOMICS
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.
READ MORE
-
AUSTRALIA
- Frank Brennan
- 26 June 2017
7 Comments
Anglican priest, traditional landowner and land rights campaigner David Passi has died. He was the last surviving plaintiff in the historic Mabo decision. A year after the Mabo decision I travelled to the Torres Strait and met James Rice and Passi, the two successful litigants in the case. Returning by boat to the mainland from the island of Mer in the Murray Islands, the waters of the Torres Strait were exceedingly calm.
READ MORE
-
AUSTRALIA
- Frank Brennan
- 13 June 2017
1 Comment
This evening, we come together deliberately as people of diverse faiths and none, affirming the blessing of life in an inclusive country where all world views are to be respected. We are able to affirm that our spiritual lives sustain and strengthen our public lives and the vitality of the polis. Our Muslim hosts show us how to give thanks reverently for all the blessings of life, and how to attest publicly the spiritual dimension of all human life. Those of us who are migrants or descendants of migrants need to be particularly attentive to the yearnings and aspirations of those Australians who rightly claim an indigenous heritage with ancestors who have thrived on this continent for up to 60,000 years.
READ MORE
-
ECONOMICS
One thing that is rarely done is a literary-style analysis of the language used in finance and business. It can quickly reveal the sleight-of-hand, even outright deception, that plague these powerful sectors. To take one example, finance language heavily relies on water metaphors, which are deeply misleading. It is unlikely that this is done deliberately; it is more probably reification (making the intangible appear to be concrete). But its consequences have been, and remain, devastating.
READ MORE
-
ECONOMICS
The $6.2 billion the government will raise through a levy on bank liabilities not only shows how out of favour banks have become, it is also, in effect, a de facto tax on property lending - a counterbalance to negative gearing and capital gains tax breaks. It is a tax on property lending because nearly all the banks' loans are mortgages for housing, or business loans secured with property. Of course the banks will pass the extra cost on to their customers, so it becomes a tax on borrowers.
READ MORE
-
ECONOMICS
Fake news aside, increasingly, we live in a world of fake figures. There is a cliche in management that 'what gets measured gets done'. In public discourse that might be translated to 'what gets measured is considered real'. One obvious fake figure is GDP, which is taken as a measure of national wellbeing. In fact, it is just a measure of transactions. If money changes hands because something disastrous happens then GDP will rise. That is hardly an indicator of national wellbeing.
READ MORE
-
ECONOMICS
- David James
- 04 April 2017
13 Comments
It is increasingly evident how pernicious the privatisation myth is. Two recent examples have underlined it: the failings in Australia's privatised energy grid and the usurious pricing in airport car parks. Both demonstrated that it is folly to expect a public benefit to inevitably emerge from private profit seeking. The purpose of government funded public infrastructure is not to make profits but to lower the cost of doing business, sometimes called the socialisation of the means of production.
READ MORE
-
ECONOMICS
- David James
- 07 March 2017
17 Comments
Witnessing the debate over Sunday penalty rates, an intriguing pattern of thinking emerged. It can be characterised as a microcosm/macrocosm duality. Those arguing for lower Sunday wage rates demonstrate their case by talking about individual businesses, the micro approach: 'Many businesses would love to open on a Sunday and if wage rates were lower, they would. Unleash those businesses and greater employment will follow.' Superficially impressive, this does not survive much scrutiny.
READ MORE
-
ECONOMICS
- David James
- 07 February 2017
10 Comments
Many defenders of globalisation express frustration at the rise of Trump and what they see as an ignorant and self-defeating backlash against its virtues. But they have no answer to the most pressing question: Is the global system there to serve people, or are people there to serve the global system? They also never address a central contradiction of globalisation: that capital is free to move, but for the most part people are not, unless they belong to the elite ranks.
READ MORE
-
ECONOMICS
- David James
- 21 November 2016
9 Comments
The idea that machines will replace humans, transforming the work force, is far from new. As technology develops at an accelerating pace, there is growing concern that new social divisions are emerging. While there are signs of deepening social divisions between the rich and the rest of the working population, previous predictions of a collapse in employment have proven to be wrong. This is largely because a confusion arises from conflating production and transactions. They are not the same thing.
READ MORE