Keywords: Western Literature
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ECONOMICS
- David James
- 28 October 2022
Who wields the most power in the world? If one follows the money trail, it becomes clear that Western societies have become ruled by a new type of aristocracy: a management aristocracy.
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ECONOMICS
- David James
- 18 October 2022
3 Comments
The world is facing cross-currents: a collapsing financial system that is balanced by the benefits of massive, long term improvements in production efficiencies, mainly because of technological advances. It is a bad news/good news story that can only be seen accurately if the intractable errors of contemporary economics are jettisoned. We are in a battle between finance fictions and reality.
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ECONOMICS
- David James
- 03 October 2022
5 Comments
For Europe, especially Germany, there should be enough gas in storage to limp through winter but by next spring there may be severe trouble. The leaders of Europe and the United States expected that they would win the economic war against Russia and force the invader to withdraw. Not only did that not happen, it is likely to lead to severe unintended economic consequences.
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ARTS AND CULTURE
- Juliette Hughes
- 07 September 2022
4 Comments
So far it hasn’t been easy to find a review in Australia from someone who has actually read the sixth and latest book in Rowling/Galbraith’s Cormoran Strike crime series, The Ink Black Heart. l wonder if it is too much to ask for people to simply read books (any books) before holding opinions about them.
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ARTS AND CULTURE
- Gillian Bouras
- 02 September 2022
1 Comment
Australian cultural icon and erstwhile publisher Hilary McPhee calls Telltale ‘a rare thing, an ingenious memoir,’ and she is right. It is interesting and reassuring to note that books about reading and recollections of reading habits seem to be proliferating. Perhaps such writing is a defence measure against worrying developments like universities in England, for example, axing their English Literature courses.
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ECONOMICS
- David James
- 23 August 2022
4 Comments
Now that it is becoming hard to avoid just how much trouble the global financial system is in, it is interesting to speculate about what should be done about it. The first thing to understand about the global financial system is that the assumptions that were used to shape it are demonstrably false.
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ARTS AND CULTURE
- Gillian Bouras
- 29 July 2022
1 Comment
Daniel Mendelsohn lectures in classics at Bard College, a liberal arts institution in New York State. His retired father, aged 81 in 2011, regrets gaps in his own education, and asks to sit in on his son’s course of seminars on Homer’s The Odyssey. Professor Mendelsohn agrees, and Jay Mendelsohn joins a class of 18-19 year-olds. Later, father and son go on a cruise that retraces The Odyssey where they discover: is home a physical place, or something you carry around with you or within you?
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AUSTRALIA
The ‘Land Rights Now’ banner is hoisted against the wind, and the marchers set off for the Embassy. A young Aboriginal woman walks ahead of the banner. She has dyed her hair red. She turns and leans into the wind to face the marchers, holding a megaphone to her mouth. ‘What do we want?’ she shouts, ‘When do we want it?’ And she keeps going, exhorting the marchers. We reply ‘Land Rights … Now!’ The crowd tires before she does.
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ECONOMICS
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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ECONOMICS
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
- Andrew Hamilton
- 08 June 2022
1 Comment
In his initial speech as leader of the Liberal Party Peter Dutton committed himself to care for the forgotten voters, echoing a foundation document of the Liberal Party: Robert Menzies’ speech after an electoral defeat in 1942 refers to forgotten people to point the way forward for the new party. The phrase was central to a re-imagining of Australian society.
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ECONOMICS
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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