The key to economic development and ending poverty is investment. Nations achieve prosperity by investing in four priorities. Most important is investing in people, through quality education and health care. The next is infrastructure, such as electricity, safe water, digital networks, and public transport. The third is natural capital, protecting nature. The fourth is business Continue reading »
Economy
In 2022, Australia exported a record 81.4 million metric tonnes of LNG, earning the industry $92.8 billion (when expected revenue was $44 billion). If all of these windfall benefits were taxed, the revenue could be used to completely rewire the nation and accelerate the shift to a clean energy future. This has not happened and Continue reading »
The historian of American foreign policy Gabriel Kolko would often say that those who seek to determine the destiny of humankind were in for surprises and, ultimately, disappointment. Any vainglorious and limitless ambition to rule the world is doomed to failure, regardless of the state. The world, whether it be the global economy or the Continue reading »
OECD data shows China sustains net gain of scientists while US suffers net loss as ethnic Chinese researchers fear US government surveillance and prosecution. The United States may want to choke off vital supplies of hi-tech gear, especially advanced semiconductors, to China. But, thanks to a “red scare” about industrial espionage and intellectual property theft Continue reading »
At a time when the Reserve Bank’s interest rate rise is adding to cost of living pressures and increasing the chances of a recession, Albanese is finding it hard to justify the staggering $368 billion cost of AUKUS nuclear submarines. Anthony Albanese says it only took him 24 hours to decide to back the AUKUS Continue reading »
The nation is bracing for austere budgets. Grim foreshadowing has prepared us for a challenging federal budget. The Victorian Premier has warned of “very difficult measures” in his state’s budget, and NSW has delayed its budget while the new cabinet grapples with “tough choices”. Budget expectation management is a perennial rite of autumn. But with Continue reading »
In three weeks or so, a little after the second Labor budget, the Albanese government will mark its first year in office. It is not just journalistic laziness which marks it as a convenient moment for some report cards, and reviews of how the government is travelling. In straight political terms, of course, it is Continue reading »
The biggest choice facing this country is between poor public services and inadequate government income support or more taxes. Unfortunately, I fear that next week’s Budget will seek to avoid this choice. The purpose of government is to choose, and the best record of those choices and consequently a government’s priorities is its Budget. Service Continue reading »
Recently, the former senior Singaporean diplomat and respected geopolitical consultant Kishore Mahbubani offered Australia some acute advice: Stop betting on the past. Mahbubani’s article was figuratively bookended with visits to Beijing by President Emmanuel Macron of France (shortly before publication) and President Lula da Silva of Brazil (soon after publication). It looks clear that these Continue reading »
This week the Federal ALP Government announced a significant cutback in the number of tanks to be stationed in the north to repel whatever is expected to land there to take our beautiful country away from us. Why – because tanks just won’t do the job in future. We are going to arm ourselves instead Continue reading »