The Australian summer has become synonymous with bushfire risk. Tasmania, New South Wales and Victoria have witnessed devastating bushfires generating millions of dollars of damage. Many individuals have…
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Bob Brown’s opinion piece for Fairfax today seems to endorse Jonathan Moylan’s “activism” as a form of civil disobedience. The thoughts echo the sentiments expressed earlier in the week by his former colleague…
The Group of Governors and Heads of Supervision (GHOS), the oversight body of the Basel Committee on Banking Supervision (BCBS), met earlier this month to consider the Committee’s amendmentsto the rules…
In the midst of genuine economic and political challenges, Tea Party Republicans have been hard at work generating additional problems. From the debt-ceiling showdown that cost the US its AAA credit rating…
Once again, bushfires are laying waste to Australian homes and communities, this time in Tasmania, with reports of 65 or more properties destroyed in Dunalley alone. Fire emergency services in other states…
It has has been suggested a hoax by anti-coal activist Jonathan Moylan wiping million of dollars from Whitehaven Coal’s share price was an act of “civil disobedience”, akin to chaining a person to a tree…
In a rare volte-face, the International Monetary Fund this week admitted that it grossly underestimated the impact of the austerity regime it advised Europeans to adopt. A paper authored by IMF chief economist…
The term “precariat” conveys the idea that the old working class, the proletariat, has transmuted into a new social class where work and life are characterised by precariousness and risk. While the old…
The construction industry is a major part of the Australian economy. Construction sites are everywhere. Some of them are recognisable from kilometres away due to their impressive tower cranes. You may…
The essence of the legal relationship known as a trust is the separation of legal ownership of assets from beneficial ownership of those assets. The trustee is the legal owner and beneficiaries are beneficial…
This year, the Basel process of banking regulation is 25 years old. In 1988, the first set of global banking regulations, known as Basel I, was adopted by the world’s senior banking regulator, the Basel…
Australia’s approach to retirement incomes policy has three pillars. The first pillar is the means-tested age pension, which dates from 1909, and is intended to provide a safety net should the other pillars…
Right now, the Australian accounting industry is in uproar about financial planning. The new standard APES 230 Financial Planning Services, issued by the Accounting Professional and Ethical Standards Board…
China’s exceptional economic growth performance in the last three decades has coincided with equally remarkable demographic change. There is now plenty of evidence to suggest the potential demographic…
The last Space Shuttle recently returned to Earth. That reminded me that 45 years ago I was undertaking a PhD in physics at Australian National University, investigating the re-entry of the space shuttle…
This Asian century will be important for a lot of reasons, and fascinating for many more. Capitalism for better or worse has migrated from Western economies to many parts of post colonial and communist…
Around the world, Belgium is famous for its beers and its brewing tradition. However, there is another link between beer and Belgium: historically, the country owes its very existence to beer. Surprisingly…
Different year, same crisis. Around this time last year, the United States was looking down the barrel of economic disaster with the debt ceiling. As we approach 2013, it peers over the fiscal cliff. That…
Debt, it seems, is an idea with currency. Cities, states, nations and individuals are indebted, with creditors at the door, demanding repayment. This year, the US Federal Reserve even had David Graeber…
In his 2012 State of the Union address US President Barack Obama lamented the fact that billionaire Warren Buffett faces a lower tax rate on his income than his secretary. The situation arises because…
Amid the emerging decline in Australia’s terms of trade and drop in commodity prices, there is general consensus among most commentators that improving Australia’s productivity is critical. Looking back…
Imagine if we discovered that the monthly setting of the Reserve Bank of Australia’s cash rate was rigged. There would quite rightly be outrage. We trust the RBA Board to make these calls, month after…
A famous quote from Albert Einstein states that doing the same thing over and over again and expecting different results is insanity. Yet this is exactly what has occurred in the car industry which has…
Australia Post has survived more than a hundred years of shipping information and goods. Then came the internet, which massively shrunk hardcopy mail, bills, brochures and so on. But with the rise of the…
The Australian Government is looking – very quietly – at pathology payola. Pathology services in Australia are big business, reflecting the shift from the days when your kindly family physician – the one…