Keywords: Political Finance
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ECONOMICS
There has been great pressure on both of the major political parties to stop giving so-called rich retirees partial pension income. The conventional view has become that retired millionaires should not be feeding off the public teat. But in terms of income, many of those 'rich retirees' would actually be better off on the pension.
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AUSTRALIA
- Jack Maxwell
- 29 July 2015
5 Comments
Political donations give privileged access to powerful public officials to those who are wealthy. But public funding does little to reduce parties’ reliance on private money and radical control measures can fall foul of the Constitution. A 2013 High Court judgment finding that a ban on donations infringed the constitutional freedom of political communication.
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- Frank Brennan
- 08 July 2015
3 Comments
I suspect Pope Francis had some of our Jesuit alumni in mind when he wrote in his encyclical Laudato Si: 'A politics concerned with immediate results, supported by consumerist sectors of the population, is driven to produce short-term growth... True statecraft is manifest when, in difficult times, we uphold high principles and think of the long-term common good. Political powers do not find it easy to assume this duty'.
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ECONOMICS
International Monetary Fund prescriptions have a long history of failing, and countries that ignore them are often the ones that do surprisingly well. Few have been asked to be more servile than the Greeks. When the IMF came in with what is amusingly referred to as its austerity 'plan', the Greek economy was expected to grow at over 2 per cent. After the 'plan' had taken effect, the country’s economy had shrunk by a quarter.
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ARTS AND CULTURE
- Gillian Bouras
- 01 July 2015
4 Comments
In the early hours of Saturday, Prime Minister Alexis Tsipras had announced a referendum for July 5. Whether the average Spiro and Soula has much idea of the macroeconomic issues seems doubtful. I certainly haven’t. And there is not much time for them or me to learn. Spiro and Soula and I are naturally concerned about the supply of ready cash.
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AUSTRALIA
- Michael Mullins
- 25 May 2015
1 Comment
Tony Abbott has warned voters that Bill Shorten has his eye on their retirement savings. He once praised the Nationals' Barnaby Joyce as a 'uniquely gifted retail politician'. But more attention to wholesaling - i.e. policy resources - would help to get both pensions and super concessions on to a more sustainable footing.
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ECONOMICS
- David James
- 28 April 2015
2 Comments
The conflict in the Ukraine has attracted a great deal of attention for its geo-strategic implications. Less noticed have been the economic implications. The sanctions placed on Russia have forced Russia to become even closer to China, and the alliance between a military superpower and an economic superpower is beginning to split the global economy in two. It may come to represent the biggest geo-economic and geo-political shift of the first half of this century, defining much of the future landscape.
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AUSTRALIA
- Brian Toohey
- 27 March 2015
6 Comments
Although the age pension will cost about $49 billion in 2017-18, it is means tested. In contrast, superannuation concessions are heavily biased in favour of high income earners. Both sides of politics pander to the wealthy and the cosseted finance sector, which want certainty that nothing will stand in the way of their super bonanza.
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ECONOMICS
- David James
- 06 March 2015
8 Comments
The 2015 Intergenerational Report is reminiscent of a comment by that great 20th century philosopher and baseball player Yogi Berra: 'It’s tough to make predictions – especially about the future.' Many economic commentators have pointed out, rightly enough, that Treasury cannot even get its one year predictions right. Nevertheless, it is worth looking at how the 40 year forecasts are constructed to see the kind of thinking involved.
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ECONOMICS
- David James
- 16 February 2015
3 Comments
Sanctions against Russia have pushed Russia and China much closer together. Russia is set to provide two fifths of China’s gas needs after the completion of two massive pipelines. This will easily replace what they have lost in supplying Europe and deliver what the Chinese most crave: security of supply. Meanwhile, Russia has cut off 60 per cent of its supplies of gas into Europe, re-routing it to Turkey, and saying that Europe will have to build its own infrastructure to transport it to the Continent.
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AUSTRALIA
- Andrew Hamilton
- 04 December 2014
23 Comments
Pope Francis' recent reflections on Europe apply also to Australia. He points to the cult of economic growth that exists at the expense of human values and the relationships that shape our humanity. His critique suggests the challenge facing our Government is not to make its policies appear more palatable when they're not, but to offer policies that are in themselves enriching.
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INTERNATIONAL
- Tim Mayfield
- 15 October 2014
11 Comments
Actor Ben Affleck was only partly right in his recent take-down of conservative US pundits Bill Maher and Sam Harris for their perceived 'Islamaphobia'. The reality is that there is a battle for the heart and soul of Islam that has been playing out around the globe since the 60s and 70s. It is therefore only natural that an ideology that rejects the failed colonial paradigm of nation-states and instead promotes the grand vision of a resurrected caliphate is compelling to many.
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