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Keywords: Economy

  • AUSTRALIA

    Discovery or cover-up?

    • Andrew Hamilton
    • 11 August 2022
    5 Comments

    Much has recently written about the doctrine of discovery and its bearing on the treatment of Indigenous peoples, particularly in the United States where it grounded an early legal decision. The doctrine enshrined in law claims that the discovery of underpopulated and cultivated lands conferred on the discoverers the right to ownership, and was used to justify colonial occupation of territory in the Americas, Asia and Africa.

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  • AUSTRALIA

    Home sweet home turns sour

    • Andrew Hamilton
    • 04 August 2022
    7 Comments

    It is easy to view homelessness from a distance as only a failure of economic policy and of the political responsibility to deliver material goods. A home, however, is more than a house. It connotes connections that are central to humanity. Left without a home people are deprived of more than bricks and mortar; they are diminished in their humanity.

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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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  • AUSTRALIA

    In praise of complexity

    • Andrew Hamilton
    • 21 July 2022

    One of the tests by which we can judge political maturity is whether it gives due weight to complexity. It is easy to reduce political conversation to opposed statements between which we must choose. That will sometimes be appropriate. Often, however, discussion of policy raises several different questions, each of which needs to be considered.

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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

    The grace of courtesy

    • Andrew Hamilton
    • 23 June 2022
    4 Comments

    Since the Federal Election one of the most refreshing features has been the new Prime Minister’s connection with people. Whether it is shown by riding a bamboo bicycle with the Indonesian President, expressing sympathy for the Nadesilingam family for their prolonged ordeal before returning to Biloela or agreeing with Jacinda Ardern, herself a model of public empathy, about the unreasonableness of expelling to New Zealand people who had never lived there, his actions displayed a readiness to listen and to enter the experience of other people.

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  • ENVIRONMENT

    Wanted: A liberal dose of climate action

    • Stephen Minas
    • 09 June 2022
    4 Comments

    The Liberal wipeout in inner-city electorates is without precedent in Australian politics. For the Liberal Party, ‘existential crisis’ is not an overstatement. As the party founded by Robert Menzies finds itself in the hall of mirrors, climate policy should be a major focus of critical self-appraisal.

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  • ECONOMICS

    Can financial fictions survive reality?

    • David James
    • 31 May 2022
    2 Comments

    As commodity prices and inflation soar in the ‘real’ world we may be witnessing a prelude to another 2008-style crisis triggered by the foreign exchange markets. The risks certainly look similar and can be described with a simple question. Can the fictions produced by out-of-control financial actors survive reality? 

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  • INTERNATIONAL

    The war in Ukraine: A Roundtable

    • Andrew Hamilton, David Halliday, Michele Frankeni, Stewart Braun
    • 19 May 2022
    3 Comments

    We are now three months into the Ukraine war. From an invasion it has turned into a war of attrition that has cost many lives, displaced civilians, destroyed cities, and led to sanctions and the making of alliances with effects that have spread suffering far beyond Ukraine. In this Roundtable, Andrew Hamilton SJ, David Halliday, Michele Frankeni and Dr Stewart Braun explore the ethics of the war and likely paths to peace.  

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  • AUSTRALIA

    Why we need to talk about disadvantage this election

    • Sally Parnell
    • 18 May 2022
    2 Comments

    When millions of Australians look back on this Federal Election campaign, they will recall it as one dominated by ‘gotcha’ moments and scare campaigns. Personal attacks, loud and in-your-face advertising campaigns and so-called missteps by politicians have provided countless hours of talkback content. Regrettably, this has taken the focus of too many away from nuanced conversations about the kind of society in which we want to live, and the policies and vision needed to take us there.

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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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