The Sydney Morning Herald reports on the Government’s proposed tax concessions for superannuation. They quote figures from the paper Reforming Australia’s Hidden Welfare State written by the CPD’s Ben Spies-Butcher and Adam Stebbing to show how the tax breaks will overwhelmingly benefit the well-off. Read the full story here.
Monthly Archives:: February 2009
Ian Dunlop | Global warming is a global emergency
CPD fellow and former Australian Institute of Company Directors CEO Ian Dunlop explains why global warming has become a global emergency in Crikey. He says that key players in the global warming debate are making policy decisions based on information that is at least five years out of date and warns that there is increasing risk of a sudden and … more
Reforming Australia’s hidden welfare state: Tax expenditures as welfare for the rich
One of Australia’s least fair and least effective forms of public investment is still growing like topsy. In this paper for the Centre for Policy Development Dr Ben Spies-Butcher and Adam Stebbing uncover Australia’s hidden welfare state. more
Lessons in Greed, Gullibility and Ignorance
High risk financial activities are not sustainable, writes Joe Nagy, in this review of the lead-up to last year’s meltdown: “The recent global financial meltdown began in America and spread far beyond its borders. It produced a crisis of confidence in how money is extended and invested in financial markets by individuals and financial institutions: primarily banks, other mortgage lenders, insurance companies, investment banks, pension funds and hedge funds.” more
Learning from the Asian Financial Crisis and the Dot-Com Boom
Monetary policy should orient itself towards stability and take into account the recent precedents to the Global Financial Crisis, writes Imogen Halstead: “The Asian Financial Crisis and the dot.com boom and bust ignited great debate on the conduct of monetary policy, with the prevailing inflation-targeting framework coming under review. While this common approach to central banking had worked effectively to support price stability in the preceding years, some commentators suggested that central banks might simultaneously play a more explicit and active role in promoting financial stability.” more
The Fabians present: The Global Financial Crisis: How bad will it get?
CPD fellow Steve Keen will join Bernie Fraser and Gary Weiss for the first Fabian forum of 2009 in Sydney. The forum will ask the question: “The Global Financial Crisis: How bad will it get?” more
Remaking the Economy and the Financial System
In the wake of the global financial crisis, a rethink of our ideas about money and interest is overdue, writes Shann Turnbull: “The financial system and the economy need to be remade if President Obama is to “Remake America” as proposed in his inaugural address. To fix modern economies over the longer run an old type of interest-free money (Free-Money) is required to supplement and/or replace existing money. Current money encourages investment in financial assets whereas Free-Money creates an incentive to invest in the real economy. The real economy includes physical assets that increase productivity and counters inflation. It also includes technology that allows humans to live lightly on the planet.” more
Steve Keen | Confidence not the key to ending the financial crisis
ABC News Online reports that key indicators are pointing towards a recession in Australia this year. Associate Professor of Economics and Finance at the University of Western Sydney and CPD fellow Steve Keen reminds us of the root causes of the Global Financial Crisis and says that we can’t rely on consumer confidence and increased spending to fix the problems.
Launch of ‘Contemporary Society’: a new book by James Arvanitakis
Join CPD fellow James Arvanitakis at Gleebooks, Sydney on March 27 2009 to launch his new book Contemporary Society. more