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The world’s financial markets are afflicted by a deep irrationality that imperils their very existence. On the surface, finance looks logical enough with its numbers, charts, mathematics, forecasts, ‘modelling’ and so on. But this only masks the fact that the system itself has been working on underlying assumptions that are either contradictory — such as that you can ‘deregulate’ finance when finance consists of rules — narrow minded or absurd.
There’s not a spare parking spot to be had in the NSW central west town of Orange. Patrons spill from cafes onto pavements and queues trail in orderly ribbons from the gelato shop’s doorway. There’s no room at any inn, and restaurants are bursting at their (COVID-compliant) seams; forget about scoring a table if you haven’t booked ahead of time. Travel is back, and regional Australia is the big winner.
There is a common error about economics that, if not corrected, has far reaching consequences. It is the widely held belief that economic growth and consumption are the same. They are not.
Since the pandemic started to show its teeth on our shores in March, there’s been a trend to wave away any other matter other than COVID-19 with an examination of, ‘Just one crisis at a time — we’ll get to climate change after we’ve got the economy back on its feet.’ The only problem is we don’t have the luxury as a nation to solely focus on one crisis at a time.
One of the minor annoyances of the United States election was how unreliable the polls turned out to be, particularly in some key swing states. Unsurprising, but still annoying for those hoping for a massive repudiation of the Trump presidency. In the large scheme of affairs the failure of the polls to predict is insignificant, but it does raise interesting questions about its implications for public life in the United States and in Australia.
Bosses give any number of reasons, often focused on some vaguely defined notion of productivity, why they do or don’t support remote working, but ultimately it comes down to a single, fundamental question: what is the ideal balance between reducing expenditure and surveilling workers?
Despite the heavy focus on 'hard-hat' professions in our political discourse, Australia’s economy is dominated by its service sectors. If this is Australia’s first service sector recession, why is this not reflected in the focus of our recovery and job creation programs?
If society were a mine, refugees would be the canaries in it. Their condition reveals whether the currents of public air are pure or toxic. By that standard the present currents in Australia are noxious. They mark a change from the first generous response to the coronavirus to the meaner reconstruction of the economy.
It would be really easy to ‘both-sides’ these debates, but that would present a false equivalence. Surely, if we have learned anything from this year’s lockdowns, we should have gained a far greater appreciation of the importance of community access to outdoor space — and, therefore, of spatial justice?
In the choppy waters of public conversation, rulers have recently attracted much attention as they have bobbed along on its surface. This is not unusual, but in these months the attention has been more frenetic and perhaps harder to read. Whether it be Trump, Johnson, Andrews, Ardern, Berejiklian or Pope Francis, there have been unusual eddies about them that merit reflection.
The global economy was already teetering on the edge of such a debt crisis before the coronavirus hit. The economic shutdowns have accelerated the damage.
The Federal Budget this year coincided with the release of Pope Francis’ Encyclical Fratelli Tutti. Both are preoccupied with the shape that society will take after COVID-19. It is tempting to compare their different approaches.
145-156 out of 200 results.