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The world-wide chaos caused by the outbreak of the coronavirus has underlined a lesson that was only partly learned in the Global Financial Crisis of 2008. In a more interconnected world the understanding of system-wide risk needs to be much better than it is.
The Five Quintets is a long, conversational poem of almost 350 pages. In an age that focuses on detail, its topic is vast: the nature of Western modernity and its future. In a secular age its perspective is unobtrusively but deeply religious. It is therefore unlikely to make the best-sellers list. But it is an important and rewarding work.
In many ways, feminism has pushed the boundaries of where and how women participate in the economy. But there is a deepening sense that this has not been enough. So what got missed? Prominent academic and feminist Eva Cox discusses the impact of neoliberalism on women, and why the social lens is more critical than ever.
There is a joke about a man looking for a coin under a streetlight: he had dropped it elsewhere, in the dark, but was looking under the streetlight because he could see more clearly there. In the same way, the thinking behind the Productivity Commission inquiry into increasing competition, contestability and informed user choice in human services is fundamentally flawed. The complexity and interconnectedness of human services is too challenging for market economics to properly address.
The Norwegian Parliament has just ordered its $A1.15 trillion Sovereign Wealth Fund to divest from coal. This represents the largest single divestment from fossil fuels in human history, and our biggest sign yet that the age of coal is over and the financial case for investing in fossil fuels is likely to disintegrate. Australia will crash and burn both economically and morally if we do not follow suit.
Neoliberal economics underlies the recent Federal Budget and the major parties’ welfare policies. It proclaims the end of the age of entitlement and speaks of small government, as it embraces the privatisation of 'service delivery'. Faith based organisations are involved as agencies of the government, often forced to impose punitive measures rather than the promise of the 'carrot' that is their purpose.
Joe Hockey provoked outrage with his recent suggestion that we should rely on families rather than the state for social welfare. His premise that high social spending leads to debt and decline reflects the GDP fetish of fundamentalist economists that Joseph Stiglitz blames for Europe's current economic problems.
Whatever the merits of Occupy Wall Street, it is far too early to speak of any substantial challenge to the dominance of capitalism. Yet there is a real taste for exploring alternatives. The most influential of faith-based approaches to economic theory is that of distributism.
There’s a long way to go for the Coalition to change from ‘its business as usual’ performance in this as in many other matters. We can all play our part, however, in encouraging Senators to stop another sizable wind back in the nation’s democratic processes. If the Senate defeats this Radioactive Waste Management Bill then the Barngarla and others can, as in any democratic country, take to court the minister’s processes.
The full economic impact of the coronavirus lockdowns will not be fully felt until the end of the year, but it will be devastating. The Treasurer, Josh Frydenberg, is already estimating that the effective employment rate is 13.3 per cent; it may be headed for as high as 20 per cent. It raises a question, not just in Australia, but in many developed countries. Will there be a significant middle class left after such economic destruction?
For the Life of the World is recent document prepared by Orthodox clerical and lay scholars and ratified by the Ecumenical Patriarch of Constantinople that challenges perceptions. Based strongly in the faith of the church and addressed primarily to members of the Orthodox churches, it is confident and independent in its voice and radical in many of its conclusions.
Identifying the true nature of things, and capturing their horror or charm? Let’s give it a crack. I recognised and recognise still that there are few humans who will ever approach Les Murray's heights of linguistic mastery and vision of life. But one thing I felt I had in common with Les, apart from our shared rustic heritage, was anger.
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