Economy

Victoria’s scorching January heatwave has focused a lot of attention on the problem of coping with the immediate fallout from climate change. According to the Victorian Institute of Forensic Medicine, in the period January 13 to 23 there were 139 deaths in excess of the expected average. There were reports of homeless people being forced away from airconditioned areas as they sought relief from the relentless heat. http://m.smh.com.au/victoria/anger-over-spike-in-deaths-during-record-victorian-heatwave-20140126-31gxb.html

Since their founding in 1896, every Olympics has arrived with the promise to unite the world. One can still hear the lyrical words of the man who presided over the 1936 Berlin games, Chancellor Adolf Hitler, who said that he hoped his Nazi Olympics could help “knit the bonds of peace between nations”. Hitler’s dreams of using the vessel of what is known as “the Olympic Movement” to create a harmonious world has tragically never come to pass, despite the best efforts of the aristocrats in the International Olympic Committee.

If you want evidence that the corporate rich are turning “sustainable” into a dirty word, then consider the recent award won by Australian bank Westpac. At last month’s World Economic Forum in Davos, Switzerland, the bank was named the most sustainable company in the world.

The movement for boycott, divestment and sanctions (BDS) against Israel has captured headlines around the world after actress Scarlett Johansson signed a promotion deal with Israeli company SodaStream. Johansson signed the deal to become SodaStream's first “global brand ambassador” on January 1. A Super Bowl halftime commercial starring the actress airing on February 2. However, the deal resulted in an instant furore due to the company's use of an Israeli occupied industrial settlement zone in Palestinian West Bank to make their home soda machines.

Food giant Coca-Cola Amatil has threatened to close the SPC Ardmona fruit canning company in Victoria, unless the federal government and Victorian government give it $25 million each in assistance. The company wants to spend $161 million on upgrading and restructuring its manufacturing facilities in Shepparton. If the plant is closed, about 3000 jobs in the Goulburn Valley, and many small orchard farms, would be lost.

The irony of fracking is that it destroys the natural resource it needs most. The tragedy for those living near fracking operations is that natural resource is the fresh ― and increasingly scarce ― water supply on which they, too, depend. Fracking ― or hydraulic fracturing ― is the fracturing or rock by pressurised liquid. It is used to access several natural resources, such as shale gas and coal seam gas, in otherwise out-of-reach places.

The decision of the National Union of Metalworkers of South Africa (NUMSA) to cut ties with the ruling African National Congress (ANC) has been badly analysed. Comment has tended to focus on the possibility of a new political party in 2019, or whether suspended general secretary of the Congress of South African Trade Unions (COSATU) Zwelinzima Vavi will get his job back. But the greater significance of the biggest trade union in the country throwing in its lot with a growing movement in opposition to the neoliberal order, and thus to the left of the ANC, is being missed.

The growing ecological crisis and impending environmental catastrophe is leading more on the left to recognise that we need both red and green in our politics ― we have to be ecosocialists. One without the other is not going to work. That is the strong message from the French Left Party, which has called for the founding of a European network, opposing the environmental degradation caused by capitalism’s relentless drive for profit.

Venezuelan President Nicolas Maduro said he would take “the most radical measures to protect our people's economy” as a deadline for businesses to adhere to new price controls approaches. “We will expropriate whatever needs to be expropriated,” Maduro said during a February 4 speech in Caracas amid commemorations of the 22nd anniversary of a 1992 failed military rebellion. The coup was led by Maduro's predecessor, Hugo Chavez. Although he was jailed for the insurrection, Chavez became a popular figure with the poor majority. He won the 1998 presidential elections by a landslide.

“The age of entitlement is over,” Treasurer Joe Hockey has bluntly told the Australian people. Hockey, entitled to a six-figure pension every year when he retires, suggests we must learn to get on with less.

Venezuelan President Nicolas Maduro has called for an “eradication” of “colonialism” in Latin America at the annual summit of the Community of Latin American and Caribbean States (CELAC). During the summit held in Cuba’s capital, Havana, over January 28 and 29, Maduro called for Puerto Rican independence and an end to British administration of the Falklands/Malvinas Islands, to which Argentina claims sovereignty. Puerto Rico was offered full membership of CELAC under a proposal made to the summit by Venezuela.

Venezuelan President Nicolas Maduro has called for an “eradication” of “colonialism” in Latin America at the annual summit of the Community of Latin American and Caribbean States (CELAC). During the summit held in Cuba’s capital, Havana, over January 28 and 29, Maduro called for Puerto Rican independence and an end to British administration of the Falklands/Malvinas Islands, to which Argentina claims sovereignty. Puerto Rica was offered full membership of CELAC under a proposal made to the summit by Venezuela.