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Category Archives: Economy
Malcolm Turnbull has announced a submarine building program that has an effective rate of protection of 300%. Yes 300%. That is the additional cost we will pay compared with buying at best price in the international market.
Environmental NGOs fear the Federal Government is moving to limit their public’ advocacy by requiring them to spend 50% of their income on practical environmental tasks such as tree planting.
In this article in the Fairfax media on 24 July 2017, ROSS GITTINS refers to the debate in Pearls and irritations about neoliberal economics. John Menadue The collapse of the “neoliberal consensus” is as apparent in Oz as it is … Continue reading
JOHN MENADUE: Privatisation is costing consumers and damaging economic reform. (Repost from 26 July 2016)
‘Privatisation is costing consumers and damaging economic reform’ said Rod Sims, the Chairman of the Australian Competition and Consumer Commission, recently. He added ‘Poorly regulated privatisations are driving up prices and have little to do with economic reform … this … Continue reading
Budget problems arise for governments who don”t control spending. Where are their financial advisers when gross overspending takes place. No business could survive the profligacy of our government’s spending.
Ideologues ,the self interested bankers and accountants and lawyers still persist with their fixation with privatisation despite the fact that it is failing in one area after another and the electorate shows very clearly that it does not want it. … Continue reading
There is widely perceived to be a gap between our stumbling political system and the wishes of the Australian people. However those who look a little deeper into our Australian hearts see not just a gap but a yawning chasm.
It is not surprising that independents are making headway in country electorates. But what is the ALP doing?
My previous article on Why Blame Neo-Liberal Economics, which argued that neo-liberal economics was not a main cause of increasing inequality, drew an unusually large and mostly critical response. While it is not feasible to respond to all the detailed … Continue reading
A few good economic indicators and Coalition disunity are distracting us from fundamental structural weaknesses in the Australian economy.
The Victorian Government has announced that it will extend existing poker machine licences until 2042, freezing the total number of machines available in pubs and clubs at 27,342 (there are another 2,658 at Crown Casino). The Minister made much of … Continue reading
JOHN QUIGGIN. Governments are buying up where the market has failed. Is this the end of privatisation?
Australian governments are back in business. Every couple of months, it seems, we hear of a new venture into public ownership of business enterprises, or an expansion of existing enterprises. Most recently, Victoria’s Labor government has announced the purchase of … Continue reading
Peering at the local accounts of Rupert Murdoch’s News Corp and Goldman Sachs … is the government’s claim to have sorted multinational tax avoidance correct? As they gaze down from their glass eyries, partners of the Big Four accounting firms … Continue reading
In the broad picture, the 2016 census has confirmed things we already knew about ourselves. But burrow down into the detail, and you’ll find much that will surprise you.
Leading economist professor Ross Garnaut says the clean energy target recommended by the Finkel Review could be useless in meeting current emission reduction targets, because technology change and coal retirements will get us there in any case.
Without bipartisan support for the key planks of energy policy, we will continue to have electricity shortages, higher than necessary prices and investment decisions being made by governments based on populism. Workers shouldn’t be used as a pawn in a … Continue reading
While all Western democracies accept the need for social safety nets, conservative governments point to moral hazard to justify less generous public provisions, while progressive parties prioritize more assistance to the needy over additional minor inconvenience to the better off
It wasn’t quite Karl Marx, but, for a central bank boss, it was heady stuff: The Reserve Bank governor, no less, exhorting workers to demand higher pay rises.
Consumers are understandably annoyed about recent electricity price rises. But that does not mean they would necessarily react negatively to a price rise associated with adoption of the Finkel Report recommendations. People are more likely to accept a price rise … Continue reading
On 16 June 2017 Bishop Vincent Long spoke at the Sydney launch of Race Mathews’ book Of Labour and Liberty: Distributism in Victoria 1891-1966. This is a transcript of his speech, in which he suggests Whitlam would have been appalled … Continue reading
Despite claims to the contrary by the defence industry minister Christopher Pyne, this sector is not driving growth in the economy or jobs. A defence economics specialist Mark Thompson has debunked these claims in a careful analysis just released by … Continue reading
In the series “Fairness, Opportunity and Security” last year I drew attention to the pervasive loss of trust in institutions . Essential Research revealed that the six least trusted institutions were: the news media, state parliaments, trade unions, business groups, … Continue reading
This is a repost of an article that was originally posted on 15 February 2017. I have reposted this in light of current controversy on the Finkel Report. Let’s be clear, the Coalition and particularly the Liberal Party and Malcolm … Continue reading
The OECD, in a recent report, has recognised that globalisation has many dimensions. Its enthusiasm for globalisation is undiminished, but it does acknowledge that the costs of globalisation “have been larger, more localised and more durable than previously thought, and … Continue reading
MUNGO MacCALLUM. The Finkel Report and Malcolm Turnbull – compromising at the expense of the planet.
It has little if anything to do with the real issues around climate change: it is all about satisfying Tony Abbott, Barnaby Joyce, George Christensen and Eric Abetz.
The Finkel Report on the future of the national electricity market falls short of its opportunity to redefine energy markets. It has been focused on trying to find a pathway through the toxic energy politics in Australia, and accommodating the … Continue reading
The people who will suffer most from economic meltdown likely to follow from the UK election will be the country’s poorest and most vulnerable as funds dry up for public services, jobs disappear as firms move to the EU and … Continue reading
Rather than capricious and populist measures such as the government’s levy on the big five banks, we need a thorough and far-ranging consideration of the role of the finance sector in our economy. This sector, which should have benefited from … Continue reading
BERNARD KEANE. Low emissions target: a win for both Turnbull and climate denialists, a loss for everyone.
The beauty of a Low Emissions Target as a climate action policy is that, as a kind of lowest common denominator, it means everyone wins — and for that matter loses.
There was a recent flurry of media excitement about a supposed “secret hospital funding plan”, which turned out to be no more than an option under consideration by a think-tank. But the real (and overlooked) issue in health funding is … Continue reading