Category Archives: Economy

PAUL O’CALLAGHAN. For Caritas Australia, bankrolling the Pacific misses the mark.

At Caritas Australia we have long been in the business of supporting the grassroots development of our Pacific neighbours.

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CHRIS MILLS. Australians’ Choice: A Wasted Hourglass or Golden Egg Economy?

These simplifying images of Australia’s future Federal, State and Territory economies have been deliberately chosen to be evocative and provocative.  Our stark choice is to continue to pursue the Neoliberalism ideology that is failing so many ordinary Australians, of take … Continue reading

Posted in Economy | 3 Comments

EVAN JONES. Systemically corrupt capitalism.

Capitalism has been analysed to death in academia and elsewhere. Thus we know that capitalism is structurally conducive to exploitation, to the production and reproduction of class-based inequality, to the degradation of nature, and so on. Such analysis is of … Continue reading

Posted in Economy | 2 Comments

BRENDAN COATES, JOHN DALEY, TONY CHEN. Abolish stamp duty. The ACT shows the rest of us how to tax property.

This week we’re exploring the state of nine different policy areas across Australia’s states, as detailed in Grattan Institute’s State Orange Book 2018. Read the other articles in the series here. This article was published by The Conversation on the … Continue reading

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LATIKA BOURKE. Forget Barnaby Joyce’s affair – this is why he should not return to the leadership

Although Barnaby Joyce’s name is not mentioned, it is his legacy that informs Philip Moss’ damning report into the Department of Agriculture’s performance as the regulator of the live exports industry. 

Posted in Economy, Politics | 2 Comments

JOHN DALEY, BRENDAN COATES, TONY CHEN. To make housing more affordable this is what state governments need to do.

This week we’re exploring the state of nine different policy areas across Australia’s states, as detailed in Grattan Institute’s State Orange Book 2018. Read the other articles in the series here. This article was published by The Conversation on the … Continue reading

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JESSICA IRVINE. Labor’s housing tax changes will help cure our property addiction (SMH 1.11.2018)

It seems a requirement of modern political scare campaigns that they be not only breathless, but logically inconsistent. And so it is with the mounting fear campaign being waged against Labor’s policy to, if elected, reform the tax treatment of investment … Continue reading

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RICHARD HOLDEN. The best way to boost the economy is to improve the lives of deprived students. (The Conversation 25.10.2018)

What if we had an opportunity to double the size of the tourism industry, or to quadruple the size of the beef industry, or to boost the economy by more than any of the presently proposed tax switches?  What if we … Continue reading

Posted in Economy, Education | 1 Comment

ROSS GITTINS. World growth a toxic danger for the environment. (SMH 27.10.2018)

If the world’s population keeps growing, and the poor world’s living standards keep catching up with the rich world’s, how on earth will the environment cope with the huge increase in extraction, processing and disposal of material resources?  

Posted in Economy, Environment and climate | 1 Comment

MICHAEL KEATING. Privatisation: When does it work, and when doesn’t it work?

Opponents of privatisation accuse it of being a key part of neo-liberal ideology. But blanket opposition to privatisation seems to me to be equally ideological. Instead, privatisation should be considered on a case-by-case basis. Accordingly, this article discusses the criteria … Continue reading

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IAN McAULEY. The finance sector – value creation or value extraction?

The Government and the finance sector would have us believe that the finance sector makes a valuable contribution to our economy. But is it simply a bloated overhead? Economist Mariana Mazzucato, who will deliver the second John Menadue Oration in … Continue reading

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BRAD CHILCOTT. The deck is stacked against average Australians

Corporations exist to deliver profits to their shareholders. Unions exist to deliver fair wages, access to benefits like annual and sick leave to workers and to ensure workplaces are safe for all employees.

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ROSS GITTINS. Tax reform is pushed by rich males, for rich males (SMH 24.10.2018)

I know it’s a shocking thing for an economics writer to confess, but I’ve lost my faith in the Search for the Golden Tax System. I no longer believe that reforming our tax system is the magic key to improving … Continue reading

Posted in Economy, Politics | 1 Comment

JOHN MENADUE. Privatisation is a clear example of the failure of neoliberalism.

Neoliberalism puts markets and companies before society and the public interest. That is why after 23 successive years of economic growth there is a widespread sense that the economy is working for a privileged few  and at the expense of … Continue reading

Posted in Economy, Politics | 14 Comments

MICHAEL KEATING. The Future Demands for Government Revenue

At The Australia Institute’s Revenue Summit on Wednesday I presented a paper that showed that the Federal Government’s future economic and budget forecasts are most likely wrong. Instead, I showed why a modest increase in the ratio of revenue to … Continue reading

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HENNY SENDER. The weaponisation of the dollar risks rebounding on the US.

One consequence of the America First policies will be to create a bipolar financial world. 

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RICHARD DENNISS. Trump’s tax cuts will increase inequality. Australia shouldn’t follow his lead.

The fiscal policies of conservatives like Trump and Scott Morrison are eating away at the fabric of society. 

Posted in Economy, International Affairs | 1 Comment

‘Divisive’: Former RBA governor Bernie Fraser turns on neoliberalism (the New Daily, 17.10.18)

Former Reserve Bank governor Bernie Fraser has called for a radical rethink to policy-making, saying the way to a fairer, more equal society is with a pragmatic approach.

Posted in Economy, Politics | 1 Comment

MICHAEL KEATING. The Change from Turnbull to Morrison: What Difference has It Made?

Now that Scott Morrison has passed the fifty-day landmark as Prime Minister, this article considers what has changed since the demise of Malcolm Turnbull and what difference Scott Morrison will make in resolving the major policy challenges that Australia is … Continue reading

Posted in Economy, Environment and climate, International Affairs, Politics | 3 Comments

PETER RYAN. ‘Big four’ accounting firms should face banking royal commission to prove independence, former ASIC investigator says.

A former forensic investigator at the Australian Securities and Investments Commission (ASIC) has called for the major accounting firms hired to audit and approve sensitive company reports to be brought before the financial services royal commission to prove their independence.

Posted in Economy | 1 Comment

WILLIAM PESEK. ‘Great Depression’ ahead? IMF sounds dire warning.

Massive government debts and eroded fiscal buffers since 2008 suggest global dominos await a single market crash. 

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ADAM MORTON. In a canter? Climate experts say Australia will not meet emissions targets. (Guardian 11.10.2108)

Guardian Australia spoke to 12 economists and scientists – almost all reject government’s claim to be on track. Leading climate researchers have overwhelmingly rejected the federal government’s claim it is on track to cut greenhouse gas emissions as promised under … Continue reading

Posted in Economy, Environment and climate, Politics | 1 Comment

JOHN MENADUE. Ignore the planet and our grand children at our peril.

The government has thrown in its lot with climate sceptics, the loony right which includes the Murdoch media and the coal miners. We have a government with no policy on climate change at all. The responses by the Prime Minister, … Continue reading

Posted in Economy, Environment and climate, Media, Politics | 3 Comments

MARK BUTLER. There is only one energy future: firmed renewables. (AFR 10.10.2018)

Australia is in the deep throes of the most severe energy crisis in living memory. Power and gas prices have skyrocketed in recent years and are continuing to go up in spite of claims from the Liberal government that they … Continue reading

Posted in Economy, Environment and climate, Politics | 2 Comments

ANDREW TILLETT. Deputy PM Michael McCormack shelves inquiry into road pricing

A raft of economists have called for a road-user charge, including former Treasury Secretary, Ken Henry, in his tax review, and former Productivity Chair, Peter Harris.  [We continue to waste billions of dollars on more and more roads, but refuse … Continue reading

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ROSS GITTINS. Why businesses are behaving badly. (SMH 6.10.2018)

While we digest the royal commission’s evidence of shocking misconduct by the banks and insurance companies, there’s another unpalatable truth to swallow: they have no monopoly on bad behaviour.   

Posted in Economy, Politics | 3 Comments

ROSS GARNAUT. Where Australia’s at 10 years after climate change review. (AFR 8.10.2018)

Energy costs will be lower if there is more investment in renewables capacity.  

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WAYNE MCMILLAN. Insecure work by another name

The NSW Business Chamber and the Australian Small Business and Family Enterprise Ombudsman (ASBFEO) are leading the charge on behalf of employer business interests. It’s obvious that both their main concerns are to create a new class of insecure workers … Continue reading

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SALVATORE BABONES. Australia -the world’s first immigration economy.

Australia’s economy is addicted to immigration, requiring ever-increasing infusions of new people to stave off an inevitable collapse. 

Posted in Economy, Refugees, Immigration | 4 Comments

JOHN MENADUE. The failings of our corporate sector- and not just the banks and insurance companies.

Our politicians are rightly receiving a hammering for their failures . We really do need to restore public trust in our political system. I have suggested a national summit after the next election on democratic renewal, different in subject but … Continue reading

Posted in Economy, Politics | 5 Comments