An attempt by a branch of the ACT Labor Party to protest the tripartite AUKUS security pact was blocked over the weekend in what members believe is a consequence of Anthony Albanese wanting to quell dissent on the issue, writes Phillip Coorey in the Australian Financial Review Amid significant unrest among rank-and-file members – primarily Continue reading »
Economy
Australia’s first wellbeing framework, announced by the Treasurer under the Measuring What Matters banner, is important and can play a vital part in setting national direction and navigating significant challenges for Australia in the years to come. The framework uses larger and more diverse data to bring depth and resolution to the picture drawn by Continue reading »
Accountancies have bolted on non-accounting services in the same way pharmacists dispensers bolted on front-of-house sales of cosmetics and liquorice. Like tinkers of old they knocked on the doors of organisations: ‘Any jobs we can do for you?’ Craftsman: Definition. One proficient in a craft or trade. (One who knows how to fix their stuff Continue reading »
Peter Dutton incessantly declaims about the cost of living crisis, blaming the government. But what would he do instead? First, we need to remember that the Albanese Government inherited the cost of living crisis. Indeed, like Dutton does now, Labor similarly complained about the cost of living crisis when they were in Opposition. The difference Continue reading »
Increasing interest rates hasn’t quite done the job; now we are told we need to increase unemployment to curtail inflation! Roll on the lunacy of conventional central banking and treasury inflation policy. Can some lessons never be learned? In 1989, I was a junior member of the Hawke Government Caucus Economic Policy Committee. We regularly Continue reading »
The ground has been shifting under the feet of the world’s central bankers, including our own Dr Philip Lowe, the outgoing chief of the Reserve Bank. This has weakened the power of higher interest rates to get inflation down. Like all economists, central bankers believe their theory – their ‘‘model’’ – gives them great understanding Continue reading »
Australia is now at a key point in our Defence major project acquisitions planning. We are looking at a very dodgy AUKUS scam which will be the driver of our largest ever Defence expenditure. Brian Toohey in this publication recently pointed out some of the serious problems of buying obsolete 2nd hand nuclear submarines from Continue reading »
“Of all of these four objectives that I call sustainable development. 1. Material Sufficiency; 2. Social Justice; 3. Environmental sustainability; and 4. Peace; we’re off track on all of them” – Prof. Jeffrey Sachs. “Nothing about the international economy guarantees the end of poverty or social justice. There’s nothing in the global economic system that Continue reading »
I just read a disturbing paragraph in a New Yorker article about the Instant Pot, a popular electronic pressure cooker whose parent company recently filed for Chapter 11 bankruptcy: “So what doomed the Instant Pot? How could something that was so beloved sputter? Is the arc of kitchen goods long but bends toward obsolescence? Business Continue reading »
It’s to be hoped that as much as possible can be squeezed from the Robodebt disaster not only to avoid a repeat but more generally to improve the working of the Australian government and its public service. The Holmes Royal Commission report is boundlessly useful but the Government would letting the country down if it Continue reading »