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Keywords: Debt

  • ENVIRONMENT

    How should Labor handle nuclear waste storage in SA?

    • Michele Madigan
    • 04 August 2022
    7 Comments

    With $1 trillion of debt accumulating over the last seven years in attempts to establish a National Radioactive Waste Management Facility, the new Labor Government is facing mounting pressure to rethink the nuclear waste storage plan for Kimba.  

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  • AUSTRALIA

    The return of the invisible worm

    • Andrew Hamilton
    • 27 July 2022
    2 Comments

    Over recent weeks many people have expressed alarm and despondence at the rising number of infections and deaths from COVID. Just as we were enjoying freedom from restrictions we found ourselves encouraged to work from home if possible and to wear masks. The crisis and the recommendations recall the first onset of COVID in Australia. Yet the response of Governments is much less forceful. The differences between the responses and the reasons for them merit reflection.

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  • ECONOMICS

    Why debt forgiveness may be inevitable

    • David James
    • 25 July 2022
    3 Comments

    Monetary authorities are caught in an impossible situation. Inflation is rising: it is over 5 per cent in Australia and over 9 per cent in the United States. Inflation is often seen as a way out of excessive debt because it erodes the real value of money and therefore the real value of the debt. But what is increasingly being discussed are ways to cancel the debt.

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  • INTERNATIONAL

    Stray thoughts: A more powerful lens

    • Michael McVeigh
    • 18 July 2022

    If there is another civilisation out there peering into the skies like us, what would they see as they catch a glimpse of life on Earth in the 21st century? I wonder what they would make of our preoccupations, and what they might see through their powerful lenses that we ourselves cannot? 

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  • ECONOMICS

    Rising interest rates point to a larger problem

    • David James
    • 28 June 2022
    1 Comment

    The question that should be posed is how effective has the Reserve Bank been at ‘managing’ the economy and financial system? ‘Not very’, has to be the answer. Not that the RBA is alone. The same pattern has been seen across the developed world. Central banks have one weapon at their disposal, the cost of money (the interest rate), and there is not much evidence they have used this tool to make their systems sustainable. Mostly, they have made matters worse. 

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  • AUSTRALIA

    Can the Class of '22 fix Australian Democracy?

    • Tim Dunlop
    • 22 June 2022
    5 Comments

    Concern about political malfeasance in Australian politics was one of the issues that drove the influx of new members (mainly women) into the Australian Parliament on 21 May, and they are promising a raft of reforms. The astounding thing is that we managed to leverage the change of 21 May 2022 within the confines of a system that inherently favours the status quo, the preferential voting system tending to channel votes back to the major parties.

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  • AUSTRALIA

    Deliver us from our necessities

    • Andrew Hamilton
    • 16 June 2022

    After the Election media focus has now switched from the fresh personalities and style of the new Government to the difficulties that face it. These include the financial pressures created by heavy debt and inflation, the constraints imposed by pledges made before the election, an energy crisis, international conflicts and their effects on trade, and differences within the Party. Faced by such challenges the Government is unlikely to be able to fulfil its promises and its supporters’ hopes.

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  • AUSTRALIA

    The justice of Sir Francis Gerard Brennan

    • Michael Kelly
    • 16 June 2022
    1 Comment

    The Court in Mabo, where Brennan J led majority, put an end to the notion of Terra Nullius, by which the British could claim that land in Australia was ripe for the picking because it belonged to no one, and opened the claims to land ownership to a much wider group including the traditional owners. The follow-up judgement in Wik took that understanding even further.

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  • ARTS AND CULTURE

    The book corner: Class in Australia

    • Andrew Hamilton
    • 03 June 2022
    1 Comment

    As I was reading the illuminating contributions to Class in Australia  I had to confront my attitudes to Marxist analysis, to the claims of sociology, social work and psychology to be sciences, to the relative importance of inequality based on wealth, gender and race, and to any claim that canonises individual choice while claiming to be value free.

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  • ARTS AND CULTURE

    The content of our winter

    • Andrew Hamilton
    • 24 May 2022
    1 Comment

    Next week we officially enter winter. The associations of winter are largely negative. They mourn the loss of the summer that has passed. For that reason it may seem incongruous that winter should begin immediately after a Federal Election campaign that ended with the excitement of the people’s choice of a new Government. The potential for a new beginning might fit better with spring.

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  • ECONOMICS

    Out-of-control house prices requires a different approach

    • David James
    • 11 May 2022
    4 Comments

    In purely economic terms, the upcoming Federal election is extremely unusual. The shut down of the Australian economy for almost two years because of health measures really has no precedent in our history. Only war can produce that type of shock. The Federal government’s financial response was as extreme as the state of emergency measures, including a sharp increase in Australian government debt. It remains to be seen, however, if the government gets much credit for injecting so much free money into the economy. It is unlikely.

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  • ECONOMICS

    Supply to survive

    • Julian Butler
    • 31 March 2022

    In 2020 as the Covid-19 pandemic raged globally, as Australia shut its borders and some states shut in their people, massive government income support was introduced. The government was a little slow coming to recognise the need for such measures. Once they had, they wanted the support rolled out as quickly as possible. Frydenberg, Scott Morrison and their colleagues recognised that a demand side boost was absolutely necessary to sustain economic activity. The government was uncomfortable, though, with this approach.  

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