section: Economics

  • ECONOMICS

    NZ's riposte to modern economic myths

    • David James
    • 02 July 2019
    5 Comments

    While money can be transacted for things that are bad — air pollution, road deaths, cigarette ads — as long as more transactions occur, it creates the illusion the economy is growing, which, ipso facto, is good. Thus, Japan's GDP rose sharply after the tsunami disaster. New Zealand's initiative will track better what is really happening in the country.

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  • ECONOMICS

    Lines drawn for Trump's economic war

    • David James
    • 07 June 2019
    5 Comments

    The globe is being split into two, with Australia nervously sitting between the two sides: America and China. At least we have a trade deficit with America so are not an immediate target. But we might want to consider becoming more self-sufficient and broadening our industrial base.

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  • ECONOMICS

    Could Labor fuel a property revolution?

    • David James
    • 07 May 2019
    5 Comments

    The Australian economy rests on a decades-long property gamble that has disenfranchised younger generations. It is why the differing policies of the two major parties at the federal election take on an unusual significance. The voters' choice will go a long way towards determining if that generational split will get better or worse.

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  • ECONOMICS

    Work as gift rather than transaction

    • Andrew Hamilton
    • 10 April 2019
    15 Comments

    It is in the interests of companies and the people who compose them to see the relationships that constitute work more broadly than the image of transaction allows. In a good enterprise work is a form of self-transcendence through relationships with other workers, with the people whom they serve directly and with the broader society.

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  • ECONOMICS

    Charity is no substitute for justice

    • John Falzon
    • 22 March 2019
    13 Comments

    The work of charities, including the generous work of volunteers, should not be a means of letting governments off the hook. People do not want to have to rely on charity; they want to be able to count on justice. And charity is never a substitute for justice. But it becomes so when governments abrogate their responsibilities.

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  • ECONOMICS

    Election sweeteners a family affair

    • Joe Zabar
    • 21 February 2019
    5 Comments

    Both Labor and the Coalition would be wise to consider revisiting the Howard-era Family Tax Benefits to provide targeted relief to families. Both have taken their share out of the FTB bucket as a way to balance the budget. By doing so, they have left many families worse off. The restoration of some of the cuts to FTB would be a good a start.

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  • ECONOMICS

    Breaking down Hayne's humanistic report

    • R. P. Lim
    • 07 February 2019
    2 Comments

    Hayne's report brings into play ideas surrounding collective humanistic values and goals, and natural law principles based on commonly understood ethics and moral standards. What is striking is how the financial services industry has dehumanised consumers, and those within the industry providing the services at the frontline.

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  • ECONOMICS

    Venezuela beset by American dirty tricks

    • David James
    • 30 January 2019
    14 Comments

    If you wish to peer into the heart of darkness, the nexus between big oil and big money is a good place to start. Those who control the energy market and the financial markets control the world. The latest victim of this brutal intersection is Venezuela, a country that has made the mistake of having the biggest oil reserves in the world.

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  • ECONOMICS

    We need to redefine exclusion

    • John Falzon
    • 21 January 2019
    22 Comments

    Inequality is not an aberration that comes with neoliberalism. It is the foundation of neoliberalism, along with its partners in social crime: patriarchy and colonisation. As Sharan Burrow, the Australian General Secretary of the ITUC, puts it so poignantly: 'We live in a fragmented world.' The excluded form the majority across the globe.

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  • ECONOMICS

    What are banks for?

    • Colin Long
    • 18 January 2019
    6 Comments

    The opening of the finance sector to scrutiny provides an opportunity to examine its position in the structure of the Australian political-economy, and, most importantly, to make the changes necessary to place it at the service of the people, rather than allowing it to continue to prey on us.

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  • ECONOMICS

    On banks and bonuses

    • Andrew Hamilton
    • 16 January 2019
    6 Comments

    One of the issues raised at the royal commission into banks was the size of salaries and bonuses paid to senior staff. Subsequent discussion has tripped lightly around the issue. The larger question is whether it is in the best interests of financial institutions to offer to its senior officers huge salaries and bonuses.

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  • ECONOMICS

    The true lesson of capitalism

    • David James
    • 15 January 2019
    2 Comments

    One of the most basic distinctions in finance, with which any stockbroker or fund manager is familiar, is that between equity and debt. As the global economy teeters on the edge of a debt and banking crisis, with global debt more than 300 per cent of global GDP, the merits of equity is something that needs to be better understood.

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