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Keywords: Economics

  • AUSTRALIA

    The Christmas story's whisper from the edges

    • John Falzon
    • 17 December 2013
    13 Comments

    Recently Pope Francis blasted the so-called trickle-down economic theories in his apostolic exhortation Evangelii Gaudium. Some will scorn his message as naive at best and dangerous at worst, while others will regard it as an urgent enkindling of hope in the face of degradation and despair. The Christmas story hints that another kind of world is possible.

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  • RELIGION

    Is the pope a Marxist?

    • Neil Ormerod
    • 17 December 2013
    27 Comments

    Pope Francis' vision for the church of the poor is now joined to a stinging critique of our globalised economy which promotes a 'new tyranny' of unfettered capitalism and an attack on the 'idolatry of money'. While such language has not been uncommon, buried in the riches of Catholic social teaching, this pope has made it up front and centre stage of his message.

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  • ECONOMICS

    Business voices competing for Tony Abbott's ear

    • Michael Mullins
    • 18 November 2013
    2 Comments

    Dr Maurice Newman is chairman of the Prime Minister's Business Advisory Council. It's his job to lobby for big business against, as it happens, the common good. But he is criticised even among some of his peers in the business world, particularly for his unwillingness to accept the need for a reduction in carbon emissions. Does Tony Abbott really listen to 'a range of voices' on business, as he claims?

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  • ECONOMICS

    Australia's Noah's Ark economy

    • David James
    • 05 November 2013
    2 Comments

    Australia is very much the 'Noah's Ark' economy: two of everything. Consider the spate of industry sectors in which only two companies dominate: airlines (Virgin and Qantas); paper and packaging (Visy and Amcor); print media (News Corporation and Fairfax). The Federal Government's announcement that it will be launching a 'root and branch' review of Australia's competition law will, at the very least, make for a fascinating spectacle.

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  • ARTS AND CULTURE

    Bushfires demand response-ability

    • Bronwyn Lay
    • 23 October 2013
    5 Comments

    Human land practices and increasing temperatures alter the earth, and are influenced by politics, law, philosophy and economics. In Lisbon, Western philosophy sought to sever God from nature; now we pretend that the fusion of humans and nature doesn't exist. The term natural disaster shouldn't be trusted. It is superstitious to think humans and nature aren't locked in a reciprocal relationship with political and ethical responsibility.

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  • ECONOMICS

    Life and death issues the election campaign missed

    • David James
    • 06 September 2013
    4 Comments

    Two of the most important issues to have been given scant attention in the election campaign are ageing and property. Even less noticed is the inter-relationship between the two. The effect of ageing on property prices will be arguably the most important financial challenge facing Australian governments over the coming decades.

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  • AUSTRALIA

    Australians are not doing it tough

    • Greg Foyster
    • 02 September 2013
    19 Comments

    Throughout the election campaign, both major parties have pledged to address 'cost of living' pressures. But a quick comparison with the economies of other industrialised nations confirms that Australians have nothing to complain about. If prices rise by 5 per cent but incomes rise by 10 per cent, households are better off, even if the cost of a petrol reaches a new pinnacle.

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  • ECONOMICS

    Boost budget by chopping charities' tax take

    • David James
    • 27 August 2013
    3 Comments

    Australia is one of only a few countries in the world that has a franking credit system. Though it is designed to stop 'double taxation' on company tax, in many cases it ends up being a 'double reward' for entities that already have tax favoured status. Last year the Tax Commissioner generously refunded over $500 million to charities and not-for-profits on dividends because they pay no tax.

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  • ECONOMICS

    Aussie dollar falls to fast money folly

    • David James
    • 03 July 2013
    4 Comments

    A currency's value is supposed to represent the state of the country's underlying economy. Yet very little changed about the Australian economy during a week in which the value of the dollar was substantially altered. It is a small instance of how rapidly change occurs in currency markets, sometimes to devastating effect, and another reason why the capital markets are ruling rather than serving.

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  • ECONOMICS

    How financial devils came to rule the universe

    • David James
    • 05 June 2013
    7 Comments

    Religious authorities may not spend a lot of time pondering the nature of global financial systems, but the Pope's recent comment that 'money has to serve, not rule' suggests it can be useful when they do. Given scope to become rule makers, rather than just people who know how to exploit the rules, financiers have moved themselves to a position of mastery.

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  • ECONOMICS

    Big business twists tax truth

    • David James
    • 27 March 2013
    2 Comments

    Australia's business lobbies are fond of complaining that company tax is too high. Lower it, they argue, and the economy would become more dynamic and everyone would benefit. The reality isn't that simple. The combination of Australia's dividend imputation system and the compulsory super scheme greatly benefit Australia's big companies.

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  • ECONOMICS

    Don't bet on the Australian dollar

    • David James
    • 08 February 2013
    4 Comments

    This week the Australian dollar reached its lowest point in three months. Tangible factors such as interest rates and trade with China influence its strength. But what really determines the direction of our currency is the whim of the currency traders. In that sense, the Aussie is is arguably the most 'unreal', or virtual currency in the world.

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