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Financial markets are made up of human beings and human beings have always been storytellers — long before science, or modern finance, or accounting even existed. Accordingly, the main skill of successful analysts, advisers, financial gurus and commentators is the construction of compelling narratives. They are, if not exactly creators of fairy stories, not too far removed from it.
In recent weeks it had become a foregone conclusion that the Democrats were going to post big losses in the midterms; it’s just the way American politics seems to work. The party in power loses seats halfway through a term. What are we to make of the fact that that didn’t happen, or that we didn’t see anything the protests and violence that ensued after the 2020 election?
How much financial strain can a system tolerate? With families simultaneously staring down the four horsemen of wage stagnation, higher prices of goods, higher bills, and higher mortgage repayments, something’s got to give.
Gamification affects almost all our online activities, from communicating to shopping, with gaming elements omnipresent in the form of points, avatars, badges, leader boards, and real-life rewards. Stripping activities of their intrinsic value, virtually any online activity could be transformed into a challenge to win. Yet users make the mistake of focusing on the game rewards without seeing how the game itself is subtly changing behaviour.
Who wields the most power in the world? If one follows the money trail, it becomes clear that Western societies have become ruled by a new type of aristocracy: a management aristocracy.
A large part of ending violence against women and children is about convincing men that there’s a more healthy way to live; that there’s a society in which they can feel comfortable in themselves, pursue their dreams, and find love and comfort with others, and feel respected for who they are.
With very little public debate or consultation, Victoria has repealed almost all laws relating to prostitution. Alone among all recreational activities, sex for payment is now unrestricted, even regarding health and safety. If we really care what happens to people, what place does sex work have in our society?
The world is facing cross-currents: a collapsing financial system that is balanced by the benefits of massive, long term improvements in production efficiencies, mainly because of technological advances. It is a bad news/good news story that can only be seen accurately if the intractable errors of contemporary economics are jettisoned. We are in a battle between finance fictions and reality.
Jonathan Freedland’s book is an extremely harrowing tour de force: at one stage I could read only a chapter at a time. But by the end I had been reminded of the power of the human spirit, and of the way in which some people, those with a sense of mission, can endure almost any trial. Resilience is a great gift.
Reverend Tim Costello's informal status as a nagging conscience to many Australian governments, including the Howard government in which his brother Peter served as federal treasurer, was formally acknowledged when the National Trust of Australia chose him as a ‘National Living Treasure’. Barry Gittins speaks to Tim Costello about the nature of power, and its place and exercise in public life.
When more nuanced commentary around the passing of Queen Elizabeth II came to the fore, it was hard to avoid the difficult realities of the British monarchy and an institution that has not, through its history, delighted those conquered in its name. With Elizabeth II, it was notable that she let an opportunity to engage the topic of empire in Britain’s collective memory go begging.
Joel Birnie’s short and admirable book provokes reflection both on what should have mattered in the relationships between colonial invaders and Indigenous peoples in the nineteenth century and on what matters in the relationships that constitute Australia today.
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