Economy
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Ian Verrender. Think Whitlam ruined our economy? Think again.
There has been much comment about Gough Whitlam’s performance as an economic manager. Ian Verrender, the Economics Editor at the ABC, presents an alternative view. See link below. John Menadue http://www.abc.net.au/news/2014-10-27/verrender-think-whitlam-ruined-our-economy-think-again/5842866 Continue reading »
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Adam Kamradt-Scott. Mining companies must dig deep in the fight against Ebola.
The current outbreak of Ebola virus in West Africa shows no signs of halting. More than4,500 people have died and many thousands more are infected. Despite the creation of a new United Nations mission to tackle Ebola and commitments of thousands of western military personnel to help combat the disease, the virus is still “winning Continue reading »
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John Menadue. Winners in the privatisation of Medibank Pte
Many would expect that the 3.8 million members or policy-holders of MBP who are arguably the owners of the company, would be the financial winners in the proposed privatisation. But not a bit of it. Some of the 3.8 million members will seemingly get some preferential issue of shares. But it will be chicken feed. Continue reading »
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German model is ruinous for Germany and deadly for Europe.
In my blog of 16 October ‘Post-script from France’ I said ‘Like other Europeans [the President of France] hopes that the German economic engine will help power France and the rest of Europe, but the German economic engine has slowed down considerably.’ Ambrose Evans-Pritchard, in the London Telegraph paints a very discouraging account of Germany Continue reading »
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Faith in coal.
In my blog of 5 January 2013, ‘A Canary in the Coal Mine’, I said that ‘The future of new thermal coal mines is doubtful. Would any sensible investor take not only the political risk but also the financial risk of investing in new thermal coal mines in Australia?’ The canary warning is getting Continue reading »
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The Failure of the South Korean National Security State – The Sewol Tragedy.
Earlier this year, the Sewol ferry sank off Korea’s southern coast with 304 passengers drowned, mainly school children. An article by Jae-Jung Suh draws attention to an abdication of responsibility by the Korean Government and many others. He says ‘The whole tragedy serves as a reminder of how neoliberal deregulation and privatisation puts people’s safety Continue reading »
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Geoff Hiscock. Abbott on the friendship trail with Modi
China rightly dominates most discussions of Australia’s economic outlook, but Tony Abbott has made it plain he also wants to be good friends with the other emerging Asian heavyweight, India. A tangible example came during his visit there early last month (September), when he handed over two ancient Hindu statues that allegedly were stolen from Continue reading »
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John Menadue. Reform of our banking sector.
In my blog of May 30, 2014, ‘Are our bankers listening or caring?’ I drew attention to a conference in London on ‘Inclusive Capitalism’. At that conference the Governor of the Bank of England and the IMF Chief both said that bankers regarded themselves as different and not bound by the need for economic and Continue reading »
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Andrew Kaldor. Are We Paying Too Much To Stop The Boats?
One of the claims that some commentators like to make about Australia’s asylum seeker policy is that it saves money. It’s got to be cheaper to stop the boats than to have people coming to our shores that way to seek refuge. Right? Wrong. It is not easy to find the actual total costs of Continue reading »
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John Menadue. Why health reform is so hard. It’s about power.
You may be interested in this repost. John Menadue. I have been actively involved in health policy for over twenty years. Throughout that period Medicare has been the shining light that has well and truly stood the test of time. But necessary health reforms are hard. They are deferred or avoided. Without ministerial leadership Continue reading »
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John Menadue. What does Labor stand for? Part 5
Democratic Renewal At the same time as addressing overarching ‘Labor’ principles that could guide Labor policies and programs, there are two immediate issues which must be given high priority. The first is democratic renewal in our public institutions, including the ALP Our democratic systems, almost everywhere, are under great challenge. We are increasingly alienated from Continue reading »
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John Menadue. What does Labor stand for? Part 4
Ethical responsibility Those in prominent office should promote those qualities which draw on the best of our traditions and the noblest of our instincts. The duty of those with public influence is to encourage hope and redemption rather than despair and condemnation, confidence rather than fear. It is to promote the common good – to Continue reading »
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John Menadue. What does Labor stand for Part 3
Citizenship We are more than individuals linked by market transactions. Our life in the public sphere is no less necessary than our private lives. As citizens we enjoy and contribute to the public good. It is where we show and learn respect for others, particularly people who are different. It is where we abide by Continue reading »
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John Menadue. What does Labor stand for. Part 2
From values to principles The purpose and role of a Labor Government could be to give expression to the values set out below – to achieve as far as possible the ‘common good’. Values such as fairness, freedom, citizenship, stewardship and ethical responsibility would be generally accepted by most people. As the values are translated Continue reading »
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John Menadue. The Great Complacency
Professor Ross Garnaut has spoken many times about our great complacency and our unwillingness to undertake the types of economic and social reform that we saw in the Hawke/Keating periods and in the early days of the Howard Government – think, GST. Have the golden days of reform gone forever? The former head of Treasury Continue reading »
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Rod Tucker. Broadband projects fail reality test.
In an article in The Conversation on 8 September 2014, Rod Tucker points out that the broadband projections will fail a reality test. He said ‘If they [the Vertigan report] had used realistic data for growth in demand, their cost benefit analysis may well have shown that a FTTP network will provide Australia with the Continue reading »
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Michael Keating. The mining tax debacle
Tony Abbott has finally achieved another “triumph” with the end of the mining tax. Of course mining royalties continue, and have even been increased recently, and oil and gas are subject to a similar sort of resource rent tax that Abbott decried when it was applied to mining. No doubt the mining industry, their largely Continue reading »
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Ian McAuley. A Year Of Tony Abbott.
The Abbott Government was elected one year and one day ago. Ian McAuley celebrates the countless successes that have slipped under the radar. A year into the Abbott Government’s term we can reflect on its impressive economic achievements. The highlight is the repeal of the carbon tax. It’s easy to stand up against tree huggers Continue reading »
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John Menadue. Who owns Medibank Private (continued)
In my blog of August 14 I examined the question of who owns Medibank Private (MBP) particularly in light of the Abbott Government proposal to privatise the business. This is not an idle question or an academic issue only. MBP has 3.5 million members and the government has estimated its sale value at $4 billion. Continue reading »
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Michael Keating. Budget Choices
Faced with the rejection of a significant part of its Budget, the Government is reportedly looking around at alternative compromises. Essentially the Government wants to ensure that the Budget is balanced by 2017-18. Consequently if some of the present savings are rejected the Government wants to insist that alternative expenditure cuts are adopted or there Continue reading »
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Michael Keating. Government Concedes and Declares Victory
For months the government and its various spokesmen in the Australian have been warning us that the nation faces a catastrophe if the Budget does not pass the Parliament intact. Essentially we were told that there was ‘no alternative’ if economic progress and certainty were to be maintained. Indeed Paul Kelly, to the considerable delight Continue reading »
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John Menadue. Who owns Medibank Private?
The government has announced that it hopes to raise $4 billion from the sale of Medibank Private. But like many of its budget ‘savings’ it might find that it has to rely in this case on the High Court rather than the Senate to decide if the $4 billion ‘saving’ can be realised. The case Continue reading »
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Peter Sivey. Health budget: GP care isn’t the problem, costly specialist care is.
The opening of eight new medical schools in Australia in the past decade has seen a massive increase in the number of new doctors entering the workforce. The number of new junior doctors graduating in Australia doubled between 2004 and 2011. But while fears of an overall shortage of doctors seem assuaged, we don’t have the right mix Continue reading »
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Michael Keating. Australia’s productivity performance.
For most of our history too much of Australian business was focussed on rent seeking, rather than the creation of wealth. Manipulating government to obtain protection, or other forms of favoured treatment by way of regulation or taxation, was far too often pursued as the easiest way to increase profitability. While the economic reforms of Continue reading »
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Wiryono Sastrohandoyo. The new Indonesian President Joko Widodo.
Joko Widodo is an upright, decent and honourable person. It is the general feeling in Indonesia that his election is a victory for the Indonesian people and the generally peaceful election process. This is a sign of the growing maturity of Indonesia’s young democracy. Jokowi was great during his two terms as mayor of Solo, Continue reading »
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John Menadue–King Coal to be dethroned.
On May 1 last year I posted “A canary in the coal mine”. It focussed on the growing and wide concern about the damage to the climate caused by coal fired electricity generation. It also drew attention to the action of Jonathon Moylan who sent a hoax email concerning Whitehaven Coal to the ANZ Bank Continue reading »
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John Menadue–A lot of nonsense about productivity.
A lot of nonsense about productivity For years the Business Council of Australia and News Corp have been warning us about our poor productivity record and the need to change our industrial relations laws to bring trade unions to heel. A part of this campaign against unions is now being played out in the Royal Continue reading »
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Michael Keating. An alternative budget strategy – part 3
Part 3. An Alternative Budget Strategy The previous comment in this series showed that there are alternatives to the Government’s particular strategy for restoring a Budget surplus over the next four years. In particular, it was shown that action to protect the revenue could raise around $42 billion in 2017-18. That is about 2¼ per Continue reading »
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Michael Keating. An alternative budget strategy – Part 2
Part 2. An Alternative Budget Strategy In the previous part of this comment, I suggested that the Budget did need to return to surplus over much the same time path as intended by the Government. There is nothing new in that, and as previously noted, Labor also had the same intention when it was in Continue reading »
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John Menadue–Power prices – we ain’t seen nothing yet!
We have seen wild exaggeration about the effects of the carbon tax on prices and the economy. It has all turned out to be quite a fizzer. The price increases we have seen have little to do with the carbon tax and the economy continues to grow steadily. Whyalla has survived. But we have a Continue reading »
