There are two misnomers regarding the Asian currency crisis. The first is that it is an Asian crisis and the second that it is a currency crisis. This is a global, not a regional, crisis. It is not a currency crisis but an
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The Wallis Inquiry recommendations, released on April 9, head back towards the days of 19th century unfettered capitalism. While Wallis recognises that bank profitability is already in the "middle to upper range", the thrust of
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You can hardly pick up a paper or watch the news without being bombarded with stories on the terrible state of Australia's current account deficit. The message is that we are all spending beyond our means, and therefore
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The federal budget on May 9 contained very little for the 8.3% of the labour force officially classified as "unemployed". In effect, they were told to sit and wait for the economy to pick up. The problem is that the economy
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Four years after the collapse of the Soviet Union and the economic crisis that followed in Cuba, the Cuban economy is starting to grow again. Cuba's real GDP grew 0.7% in 1994, marking what is believed to be the beginning of a
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World financial market are in turmoil: interest rates soaring, stock markets plunging and the US dollar in free fall against the yen and the mark. On June 27, the Australian stock market lost $10 billion, its
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The budget purports to give us everything: jobs, low inflation, growth and a spending boost. But its underlying assumptions are no more than the same old economic orthodoxy propounded by the Liberals — small government and a
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The government's long-awaited white paper, optimistically titled "Working Nation", has promised to cut unemployment to 5% by the turn of the century by implementing "reforms" in the labour market and in industry which will cost