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Economics may be useless for forecasting, and its assertions can be overly simplistic. But it is a language that should be understood, and here is a good place to start. In simple and clear prose, Leigh spans the history of human economic activity, beginning in prehistoric times and ending with the modern day.
By 2012, when the federal government first started reporting on staff-to-student ratios in universities, there was one academic for every 20 students. The most recent data, from 2021, shows that figure had increased to 23. As Australian students return for the new academic year, it will surely come as no surprise to find that ratio has worsened.
The illusion of warfare as a contest between professionals should have disappeared forever as the twentieth century brought numerous examples of barbarous armies butchering civilians. And unfortunately, the pattern now is that some 90 per cent war casualties are civilians.
What does it mean when ideas of scarcity – supposedly the driving principle in understanding supply and demand – are no longer the only or best way to think about economic activity? What is needed to understand the post-industrial environment is a new way of thinking about economics and finance.
In China, the resurgence of traditional Hanfu garb from the Han dynasty is capturing the imagination of social media users, sending a multi-layered message about Chinese identity. The trend goes beyond most online fads, subtly conveying China's desire to project cultural and political influence.
Recently Pope Francis’ approach is to speak in direct – sometimes blunt – terms about the shortcomings of climate action in recent years, suggesting that we need a system of climate justice that is not built on the backs of the poor.
Even the best forecasting gets it wrong, and every year has its own 'Black Swan' events, characterised by their unpredictability and impact. They remind us that the future is unpredictable, perpetually lurching between prediction and confusion.
It’s that time of year when futurists and prophets play fast and loose, projecting visions rife with both promise and peril, weighing the possible against the improbable. As we contemplate competing pictures of the future, although every forecast risks missing the mark, one thing is certain: 2024 won’t be a year for the faint-hearted.
Over 200,000,000 Indonesians are currently weighing up who to elect from three candidates as their next president. Australia has nothing to gain from a Prabowo presidency and a lot to lose.
In the realm of intellectual giants, Einstein's acclaim often overshadows luminaries like Pierre Teilhard de Chardin. A century after the publication of 'The Mass on the World', this Jesuit priest's reflections remain challenging, spotlighting his quest for a singular reality binding all existence.
The departure of Stan Grant from his role at the ABC following racial abuse triggers collective dismay and brings to light the deeply rooted issue of racism in Australia. His exit from public life is a sobering reminder of the societal toll of bigotry, and underscores the urgent need to safeguard our public intellectuals.
From Moscow to Beijing, a change in global finance looms, set to challenge the long-standing economic hegemony. This imminent shift could redefine global power structures, disrupt currency markets and international trade. Amidst this uncertainty, one thing is clear: the game of geopolitical chess is no longer played on a Western-centric board.