section: Economics

  • ECONOMICS

    What it will take to redeem the banks

    • Andrew Hamilton
    • 05 December 2018
    8 Comments

    Now that the royal commission hearings have finished, people are asking whether things will change. There are grounds for both cautious hope and pessimism. Hope is based on the expectation that the exposure of greed, complacency and lassitude in institutions, boards and regulators will lead them to hunger for a better reputation.

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  • ECONOMICS

    Compound interest is the root of banks' evil

    • David James
    • 04 December 2018
    7 Comments

    The problem goes much deeper than a few crooked operatives and it will not be fixed by changing the corporate 'culture'. The fundamental evil is the arithmetic of compound interest. Interest on debt rises exponentially, while economic activity is linear. That means that sooner or later those in a weaker position are unable to pay.

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  • ECONOMICS

    Common good key to reversing trust deficit

    • Joe Zabar
    • 26 November 2018
    7 Comments

    Whenever institutional interests are put ahead of the legitimate concerns of others, including the poor and marginalised, there develops a trust deficit. This deficit is gripping institutions here and overseas. Its impact is deep and destructive. Facets of Catholic Social Teaching point the way to reversing the downward trend.

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  • ECONOMICS

    Women's economic security plan is no safety net

    • Eliza Berlage
    • 22 November 2018
    1 Comment

    The government finally released its women's economic security statement. The package is built around three pillars — workforce participation, earning potential, and economic independence — totalling $109 million dollars over four years. It is a drop in the ocean compared to what is needed to address the crisis of gender violence and substantial inequality.

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  • ECONOMICS

    The shareholders shall inherit the earth

    • David James
    • 08 November 2018
    1 Comment

    So here is a question. Which are you? A customer, a shareholder, a worker, a citizen, or, well, a whole human being? If you answered 'customer' then congratulations, you are in line with contemporary economic orthodoxy, and boy, have we got a society for you. If you answered 'a human being' then that really is a problem, I'm afraid.

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  • ECONOMICS

    Fronts of distortion in the Khashoggi affair

    • Binoy Kampmark
    • 19 October 2018
    4 Comments

    Trump finds facts distasteful and prefers to avoid engaging them; the Kingdom of Saudi Arabia finds them in need of censorship, possibly of the most extreme type; and Turkey, with one of the world's most sullied records in treating journalists, retains a reserve discordant with its own findings.

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  • ECONOMICS

    Trump's thuggery is changing world finance

    • David James
    • 05 October 2018
    5 Comments

    That Trump is a narcissistic braggart was never in doubt. The more intriguing question was always how a businessman would behave once he became president. His administration sees business-style standover tactics as a thoroughly good option. The system-wide shifts that are resulting may have a lasting impact.

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  • ECONOMICS

    Lehman Brothers and the next GFC

    • Binoy Kampmark
    • 13 September 2018
    2 Comments

    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.

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  • ECONOMICS

    Where the west will rest in new economic order

    • David James
    • 03 September 2018
    7 Comments

    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.

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  • ECONOMICS

    Australia's deadly game of mates

    • David James
    • 14 August 2018
    6 Comments

    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.

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  • ECONOMICS

    Trump's trade attack is off track

    • David James
    • 18 July 2018
    2 Comments

    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.

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  • ECONOMICS

    Burning down the house of inequality

    • John Falzon
    • 28 June 2018
    7 Comments

    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.

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