Economy

The Order of Mates celebrated beside Sydney Harbour the other day. This is a venerable masonry in Australian political life that unites the Labor Party with the rich elite known as the big end of town. They shake hands, not hug, though the Silver Bodgie now hugs. In his prime, the Silver Bodgie, aka Bob Hawke or Hawkie, wore suits that shone, wide-bottomed trousers and shirts with the buttons undone. A bodgie was an Australian version of the 1950s English Teddy Boy and Hawke’s thick grey-black coiffure added inches to his abbreviated stature.
Green Left Weekly spoke to Peter Boyle, the national convener of the Socialist Alliance, about the political climate of the 2010 federal elections. * * * Many progressive people are feeling depressed about the federal election. How do you see it? Labor and the Liberal-National Coalition are in a “race to the bottom”, as Socialist Alliance lead Queensland Senate candidate and Murri community leader Sam Watson aptly put it.
A draft program for the Climate Change Social Change conference, over November 5-7, has been released and is available on the conference website. Major conference sessions include topics such as: “A safe climate — what will it take?”; “Climate justice: their agenda and ours”; “Food sovereignty for surviva”l; and “The global economic crisis and the ecological revolution”.
A spectre is haunting the healthcare system — the spectre of Big Pharma. Fears over the side effects of a widely used diabetes medication in Australia have revealed the power of big money and its influence on the healthcare system. The medication — known as Avandia — is under fire for potentially causing heart attacks and strokes in patients. The manufacturer, GlaxoSmithKline (GSK), is accused of hiding evidence of the drug’s harmful side-effects.
Brain science — neuroscience — is big business, big science and big research. Neuroscientists are offering to explain, mend and manipulate the mind. Many see no problems with this. For example, Eric Kandel, who won a Nobel Prize for his work on memory, said: “You are your brain.” This is an extraordinary, arid reductionism. This is the idea that you can collapse the complex phenomenon that goes on in the human mind into being simply the working of cells or molecules.
In one of her first policy changes after replacing Kevin Rudd as leader of the Labor Party, Prime Minister Julia Gillard dumped Rudd’s idea of a “big Australia”. On June 26, Gillard said “Australia should not hurtle down the track towards a big population”. Instead, she called for a “sustainable population”. Almost four weeks on, however, Labor’s policy has no details — just lots of rhetoric designed to pander to fears that immigration (particularly asylum seekers) is causing a raft of social problems.
Forget about the climate science and the record high temperatures. Prime Minister Julia Gillard has decided she doesn’t need a serious climate change policy to win the federal election. In its place, she kicked off her election campaign on July 18 with a “sustainable Australia” policy. It promised a future of low population growth, which “preserves our quality of life and respects our environment”. Opposition leader and climate denier Tony Abbott was quick to say he fully agreed with this vision, but was even more committed to it than Gillard.
Five hundred people rallied outside the Perth Supreme Court Gardens on July 11 to demand that the coronial investigation into Mr Ward's tragic death be reopened. Mr Ward, a respected Aboriginal elder, was literally cooked to death in the back of a prisoner van while being driven from Laverton to Kalgoorlie to face court for a traffic offence in January 2008. The coroner found that temperatures inside the van reached 47° Celsius and that metal surfaces in the van would have reached 56°C.
Twenty years ago, superannuation was an employment benefit enjoyed only by public sector workers and management level employees in the corporate sector. Most workers had no access to superannuation. Today “super” is an “industry” of great value and interest to finance capital. The $1.3 trillion in superannuation funds came in handy when the ongoing “great financial crisis” (GFC) began in 2008. It was a lifeline for Australian corporations caught short. What happened to create this behemoth?
Terrorism and the Economy — How the War on Terror is Bankrupting the World By Loretta Napoleoni Seven Stories Press, 176 pages Review by Thomas Kollmann With no end in sight to operations in Afghanistan, an incisive review of how the much-hyped international events of the last nine years have led us there is very welcome. Economist Loretta Napoleoni is renowned for throwing light on the murky world of the financing of terrorist groups.

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