Tag Archives: inequality

FRANK STILWELL and CHRISTOPHER SHEIL. The IMF is showing some hypocrisy on inequality

The IMF should practice what it preaches when it comes to inequality.  

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TIM AYRES. What We Leave Behind: The Case for Universal Inheritance, including an inheritance tax.

Older Australians are enjoying a growing share of Australia’s wealth; the wealth of younger Australians has stagnated. Structural changes to the labour market threatens to leave more young people in low wage, precarious work than any generation before them, and … Continue reading

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GEOFF DAVIES. Brexit, Trump and a Rigged System. Part 1 of 2.

Behind the votes for Brexit and Trump lies a simple and widespread perception: the system is rigged in favour of the rich. That perception is accurate. People may lash out at scapegoats and follow false prophets, but their disgust and … Continue reading

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JIM CHALMERS. We can’t let go of the fair go.

New unreported data shows Australia’s proud tradition of inclusive economic growth is at risk, writes Shadow Finance Minister Jim Chalmers.  

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IAN McAULEY. Brexit, Trump and the Lucky Country 1 – Who’s been left behind?

In “developed” countries the benefits of 35 years of economic growth have been unevenly distributed. Many people who once had well-paid manufacturing jobs and many who live in the country have fallen behind. While this has been most starkly manifest … Continue reading

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IAN McAULEY. Brexit, Trump and the Lucky Country 4 – Issues re-framed

Contrary to some interpretations, the trend in “developed” countries is still towards social and economic liberalism. But there is a strong reaction against the social exclusion that has accompanied liberalization. The economic models that guide public policy are not up … Continue reading

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MUNGO MacCALLUM. Donald Trump – a change agenda?

  First the Poms abandoned common sense in backing Brexit and now the Yanks have voted against their own best interests (and those of the rest of the civilized world) by electing Donald J Trump. This was not a rational … Continue reading

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Trump and American Decay.

  In this article in Foreign Affairs, Francis Fukuyama says: The decayed American political system can be fixed only by a strong external shock that will knock it off its current equilibrium and make possible real policy reform. Trump’s victory … Continue reading

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IAN McAULEY. Mein Drumpf: Hitler, Donald Trump And A Shot Across The Bow For The Left

We’re not sure who first said “history doesn’t repeat itself, but it does rhyme”, but it’s an apt reminder of the similarities between the forces that have propelled Trump into the US presidency, and the forces that brought Germany’s National … Continue reading

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PETER WHITEFORD & DANIEL NETHERY. Where to for welfare?

  The Coalition’s proposed budget cuts would have a disproportionate impact on low-income groups, write Peter Whiteford and Daniel Nethery in this detailed analysis for Inside Story.

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IAN McAULEY. Brexit – retreat to isolationism and discontent of those left behind.

The Brexit vote has given the media a cornucopia of stories – dissent in the British Conservative and Labour Parties, the possible breakup of the “United” Kingdom and turmoil on financial markets. These, however, are distractions from two serious issues … Continue reading

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Miriam Lyons. On inequality of opportunity

The myth of meritocracy is today’s version of the divine right of kings, and it is playing much the same political function. Call it the divine right of King’s School alumni. Another week, another report on the growing gap between … Continue reading

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Geoffrey Harcourt. Piketty, flawed, but not a light that failed.

Current Affairs A review of Thomas Piketty, Capital in the Twenty-First Century.* Translated by Arthur Goldhammer, Cambridge, Mass and London: The Belknap Press of Harvard University Press, 2014. viii + 685 pp. ISBN 978-0-674-43000-6* *This is a smaller version of … Continue reading

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Ian McAuley. Inequality matters

Policy Series Australia has a reputation for egalitarianism, as a country where, in comparison with Old World countries, wages were good and, to quote Lawson, where people “call no reason to call no biped lord or sir”. Up to around … Continue reading

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Bruce Duncan. Pope Francis and the Abbott government

Current Affairs  Pope Francis has repeatedly called for greater social and economic equity in the world, and reiterated the critique of neoliberal economics very strongly. Now he is about to issue an encyclical, the highest form of Church teaching, on … Continue reading

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Andrew Leigh. The remarkable persistence of power and privilege.

If you want to know who made up Australia’s elite in the nineteenth century, a useful place to look is the Australian Dictionary of Biography. In its many volumes, you’ll find business leaders, scientists, media barons and politicians who have … Continue reading

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John Menadue. Capitalism and the fall of communism

In this blog on 5 November I drew attention to an article by the Economics Editor of the Guardian Larry Elliott. In that article Elliott said “As the Berlin Wall fell, checks on capitalism crumbled.”  The principal thesis of that … Continue reading

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John Menadue. Capitalism, inequality and taxation.

In his challenging series last week on ‘Is capitalism redeemable’ Ian McAuley drew attention to how growing inequality is the cause not only of serious social concerns, but it is also presenting us with some quite serious economic problems. There … Continue reading

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Ian McAuley. Is capitalism redeemable? Part 8: Inequality’s downward economic spiral

Let’s start with what looks like a self-evident proposition. “Countries with right-wing or neoliberal governments spend less on social security than countries with more left-inclined governments.” It’s a proposition university lecturers put to students of public economics, and the smarter … Continue reading

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Ian McAuley. Is capitalism redeemable? Part 7: Inequality – a shameful waste

“Australia’s program to increase world growth seems to be to cut social security benefits from the poor.” When Geraldine Doogue asked Malcolm Fraser to comment on Abbott’s G20 agenda, that was his summary of the present Government’s economic policy Unfortunately, … Continue reading

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Is capitalism redeemable? Part 6: Inequality – it ain’t fair

We get a laugh out of the Monty Python sketch of four Yorkshiremen competing with one another to tell stories of the hardship they endured when they were children, 30 years earlier – “you think you had it tough …”. … Continue reading

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Bruce Duncan. Pope Francis: economic system is failing millions.

A blog in the Economist accused Pope Francis of following the founder of the Soviet Union, Vladimir Lenin, in adopting an “ultra-radical line” on capitalism. The blog, “Francis, capitalism and war: the Pope’s divisions”, was reacting to the Pope’s interview … Continue reading

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Ian McAuley. Ignored Budget issues.

​Lobby groups and community organizations have provided their take on the Budget – some with a “what’s in it for me” approach, others with a more analytical line.  My contribution from the stands is to draw attention to a few … Continue reading

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