Economy

Why the daunting economics of elder care are about to get much worse

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My sister Carol loves movies, but she hasn’t been out to see one in years. When she tries to watch one at home, she’s frequently interrupted. Patricia Smith The Conversation She shrugs this off, saying “Who needs to see movies when you’re living one?” You see, my sister is living the plot from the movie “Groundhog Day.” She takes care of our mother, who suffers from dementia. Our mom asks the same questions over and over and only wants to ... Read More »

The Formal Economy as Patriarchy: Vandana Shiva’s Radical Vision

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To achieve economic equality, activist and author Vandana Shiva says we need to recognize the value of women’s work and start counting production, not just profits. Jumana Farouky NewsDeeply LONDON – In the middle of a conference ringing with the latest development lingo, Vandana Shiva cuts a lonely figure. Anti-“empowerment,” anti-“jobs,” and anti-“formal economy,” she rejects many of the narratives that are usually used to promote the cause of women’s advancement. Yet she’s come to the Bond conference on international development in London to ... Read More »

South Australia is fine after the car industry closed: Downer

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London: Former foreign minister Alexander Downer has downplayed the effect on Australia of losing its car industry, saying unemployment in South Australia is “pretty low” and young car manufacturing workers had found it relatively easy to get new jobs. Nick Miller Brisbane Times Downer, the outgoing high commissioner in London, was spruiking the benefits of trade liberalisation to a UK parliamentary committee. Australia’s free trade deals with the US and China had “exceeded expectations”, he said. Opening Australia’s markets to the… ... Read More »

How Europe’s Band-Aid Ensures Greece’s Bondage

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All the happy talk about impending “debt relief” and a “clean exit” from Greece’s third “bailout” obscures an uglier truth: the country’s debt bondage is being extended to 2060. Yanis Varoufakis Project Syndicate Worse, by ossifying Greece’s insolvency, while pretending to have overcome it, Europe’s establishment is demonstrating its refusal to fix the eurozone’s flaws. ATHENS – Greece’s never-ending public-debt saga has come to signify the European Union’s inept handling of its inevitable eurozone crisis. Eight years after its bankruptcy, ... Read More »

Paul Keating says Australia’s sycophancy to US damaging its own interests

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Former Labor prime minister says there should be greater independence within alliance and South China Sea ‘is not our fight’ Ben Doherty Guardian Australia’s “client state” obsequiousness towards the US was damaging its own interests and ignoring the rise of China as the nascent “primary economic state of the world”, Paul Keating has argued. Speaking at the Lowy Institute in Sydney, the former Labor prime minister said the alliance with the US did not mandate slavish devotion to American demands “as the ... Read More »

Tony Abbott’s economic argument against immigration is flawed

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Former Prime Minister Tony Abbott graduated with a bachelor’s degree in economics from the University of Sydney in 1979. Jessica Irvine The Canberra Times But having since derided the dismal science as “boring”, it appears he may have snoozed off at a crucial point in his lectures. In a speech to the Sydney Institute last Tuesday, Abbott explained his logic behind his call for a reduction in Australia’s annual rate of immigration from 190,000 to 110,000 a year. “My issue ... Read More »

Drill, drill and drill

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Global energy demand will continue to grow, and even though the trend will be toward renewables, the government of Newfoundland and Labrador believes that oil and gas will remain an important part of the global energy mix for some time. by Mark Sabourin EcoLog It says the oil and gas industry is adapting to a long-term market of stable, lower prices. The province that once feasted at the table of hundred-dollar oil and that is now nibbling on its crumbs ... Read More »

Big investors backed shareholder campaigns on climate, human rights

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It had already been a challenging year for BHP by the time its new chairman, Ken MacKenzie, took to the stage at the company’s AGM last November. Ruth Williams The Age The complex repercussions of the deadly Samarco mine disaster in Brazil two years before rolled on and combative hedge fund Elliott had spent much of the year using its toe-hold shareholding to push for a radical shake-up. Against that backdrop a resolution lobbed by a tiny group of retail ... Read More »

Russian Expansion in the Black Sea and the Sea of Azov: Economic Consequences for Ukraine

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Moscow’s appetite in the Black Sea and the Sea of Azov has not decreased after Russia’s annexation of Crimea in 2014. By: Ihor Kabanenko Eurasia Daily Monitor Russia has gradually advanced its presence into significant areas of the exclusive maritime economic zone of Ukraine, which, in accordance with international law, is subject to the sovereign rights of Ukraine. This expansion aims to establish control over critical maritime areas and transport communications nodes. In violation of the UN Convention on the ... Read More »

‘Britain Would Collapse If It Tried to Pay Back the Money it Drained From India’

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Britain drained more than 9 trillion pounds from India over 173 years, says economist Utsa Patnaik. Newsclick Report Britain would collapse if it tried to pay back the money it drained from India, eminent economist Utsa Patnaik said at a conference at Jawaharlal Nehru University, New Delhi on Wednesday. Delivering the inaugural lecture at the three-day Sam Moyo Memorial Conference on “Land and Labour Questions in the Global South”, Utsa Patnaik said that the estimated drain from India to Britain ... Read More »

Merkel eyes overhaul of EU finances for post-Brexit bloc

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BERLIN: Brexit offers the EU an opportunity for a broad rethink of its financial set-up, German Chancellor Angela Merkel said on Thursday before an EU summit that will tackle the bloc’s future budget. Reuters Arab News Addressing the Bundestag (lower house of parliament), Merkel made clear that the future of the EU would be a priority in her fourth term, provided a coalition deal between her conservatives and the pro-EU Social Democrats is approved by SPD members. “We need a ... Read More »

Ukraine’s National Bank to prolong sanctions against banks with Russian capital

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Earlier Ukraine’s President enforced the decision of Security and Defense Council to impose sanctions against five banks with Russian capital 112.International The National Bank of Ukraine believes that the sanctions against banks with Russian state capital, expiring on March 16, should be prolonged. Vitaliy Vavryshchuk, the Head of the National Bank Financial Stability Department said this, as Interfax-Ukraine reports. “Yes, there is a need to prolong them,” he responded. He also mentioned that the presence of banks with Russian capital within the… Ukraine’s National ... Read More »

Delek, Noble sign accords for $15b in sales of Israeli natural gas to Egypt

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Partners in the offshore Tamar and Leviathan fields ink deals with Egypt’s Dolphinus Holdings Ltd. for the sale of some 64 billion cubic meters over coming decade By Shoshanna Solomon The Times of Israel The partners in Israel’s Tamar and Leviathan natural gas fields, including a unit of US Noble Energy Inc and Delek Drilling LP, have signed $15 billion in deals to export natural gas to Egypt over 10 years. In a filing to the Tel Aviv Stock Exchange ... Read More »

PH giving China ‘too much, too early, too soon’, says UP prof

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The Philippines has given “too much, too early and too soon” in seeking rapprochement with China and may end up with the short end of the stick, a maritime law expert warned on Saturday. By: Jhesset O. Enano – Reporter INQUIRER “We are trading away too much, too early and too soon in dealing with China,” said Jay Batongbacal, director of the University of the Philippines Institute for Maritime Affairs and Law of the Sea. “Even though we have had ... Read More »

UK Government-backed investment bank needed for small business lending, think tank urges

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A new report says a new national investment bank could address the lack of long-term investment in SMEs Ravender Sembhy The Independent Britain should set up a state-backed investment bank to focus on small business lending as part of efforts to tackle poor productivity, a think tank has urged. A new report by Civitas argues that the creation of a new “national investment bank” will address the “market failure” that has led to a lack of long-term investment in SMEs. The new lender ... Read More »

Japan thinks Brexit is an ‘act of self harm’, says former ambassador

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Sir David Warren says Britain’s withdrawal from EU could have ‘grave’ consequences for bilateral relations Chris Baynes The Independent Japan sees Brexit as an act of economic and political “self-harm” that will weaken the UK as a world power, according to the former British ambassador to Tokyo. Sir David Warren, who served in the post between 2008 and 2012, said Britain’s withdrawal from the EU could have “grave” consequences for relations with Japan. His comments came after the Japanese ambassador to London warned Prime Minister Theresa ... Read More »