Economy

A public debate has erupted over a decision by Moreland council, in Melbourne’s inner-north, to install armrests on benches outside Coburg Library.

Of all the points raised by the federal government in its latest bid to drug test welfare recipients, no one seems willing to say the obvious: just let the unemployed get wasted if they want.

Imagine you came across a 150-year-old message in a bottle that predicted the world would face a catastrophic crisis as a result of profit-driven capitalism.

Imagine that prediction also explained why capitalism — sustained for generations through the exploitation of nature and human labour — would push aside all moral, rational and scientific objections in the blind pursuit of profit.

National accounts figures released by the Australian Bureau of Statistics (ABS) on September 4 show economic growth was slower over the 2018–19 financial year than at any time in the past 10 years.

In Risking Together, Dick Bryan and Mike Rafferty look at how the financialisation of the global economy has swept up the lives of ordinary people who had nothing to do with playing the financial markets. In the process, their lives have come to mirror the risks of stock exchange, derivative and currency market speculation.

Under the banner of “SOMething Rotten” Sydney University staff, including members of the National Tertiary Education Union (NTEU) and Community and Public Sector Union (CPSU), as well as students protested against university management's Sydney Operating Model (SOM) on August 14.

Residents of the troubled Mascot Towers apartment complex have targeted the state Coalition government over a series of building defects they say point to a serious failure in the regulation of construction standards.

Welcome attention was drawn to the issue of poverty with the 2014 publication of Thomas Piketty’s Capital in the Twenty-first Century, which became an international bestseller.

The Political Economy of Inequality by Frank Stilwell, Emeritus Professor of Political Economy at the University of Sydney, gives a more rounded overview of the issue in a more manageable volume than Piketty’s hefty magnum opus.

It is fast becoming a recognised fact — almost a truism — that the Newstart Allowance is too low. For unemployed people trying to get by on about $300 a week ($277 without rent assistance, $227 for those under 21), this is not news.

Let’s stop putting our hopes in billionaires like Elon Musk and Jeff Bezos to save humanity. The billionaire class has benefited from the inequities of the capitalist system, and so is incapable and unwilling to change it, writes Rupen Savoulian.

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