Hugh McDermott for Prospect


Pages tagged "globalisation"

A financial storm gathers: one we can weather

by James Dunn

Recently it has seemed as if a grey cloud has swept across the world economy with the major players battling crises in Europe and North America, with worrying implications for the rest of us.

As a relatively small player it seems we, Australia, are watching helplessly. But times have been particularly difficult for Barak Obama lately, who struggled to end the impasse with the fiery Republican opposition in Congress; achieving an outcome that impressed few.

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The Storm after the Calm

By Michel Rocard

Could the financial crisis of 2007-2008 happen again? Since the crisis erupted, there has been no shortage of opportunities – in the form of inadequate conclusions and decisions by officials – to nurture one’s anxiety about that prospect.

Over the course of the three G-20 summits held since the crisis, world leaders have agreed to tighten financial regulation slightly, but only for banks, while leaving other market players free of restrictions and scrutiny. As was true before the crisis, no one is monitoring the almost limitless “virtual” market for derivatives, where money moves freely without official rules or contact with the real economy.

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Australia and ASEAN: partnership for the region

by Dr Nattavud Pimpa

Australia has been ASEAN's dialogue partner since 1974. In fact, we are the first single nation that partnered with ASEAN for a number of economic, political and cultural reasons. Since the establishment of our relationship Australia has been working with ASEAN on a number of key issues. Some examples include (1) combating terrorism in the region, (2) fighting transnational crimes, (3) aid and development in infrastructure and education, (4) disaster risk reduction, (5) prevention of human trafficking and disaster management in the region.

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The Future of Economic Growth

by Dani Rodrik

Perhaps for the first time in modern history, the future of the global economy lies in the hands of poor countries. The United States and Europe struggle on as wounded giants, casualties of their financial excesses and political paralysis. They seem condemned by their heavy debt burdens to years of stagnation or slow growth, widening inequality, and possible social strife.

Much of the rest of the world, meanwhile, is brimming with energy and hope. Policymakers in China, Brazil, India, and Turkey worry about too much growth, rather than too little. By some measures, China is already the world’s largest economy, and emerging-market and developing countries account for more than half of the world’s output. The consulting firm McKinsey has christened Africa, long synonymous with economic failure, the land of “lions on the move”.

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Immigration reform Obama style

by Jo Coghlan

America has more than 11 million (and as possibly as high as 20 million) people living inside its borders who do not have legal status. They account for 3.7% of America’s population. For American President Barrack Obama, immigration is the political elephant in the room particularly as he faces re-election next year. Recently Obama has significant speeches on immigration ‘reform’ but it is domestic politics that is driving his policies.

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The angry white men and their motives

by Matthew Goodwin

The potent combination of anti-immigrant hostility and political dissatisfaction is at the core of understanding support for the far right. Attempts to win back support must involve not only addressing border control and economic concerns, but also confronting questions about identity and feelings of cultural threat.

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Asylum and refugee politics torment Australian Labor

by David Hetherington

Asylum and refugee politics drives a wedge through the left’s core constituencies, opening the floor for a debate driven by fear and xenophobia. It’s the issue that never goes away, one which bedevils 21st century social democratic parties around the world. The treatment of asylum seekers is a minefield for progressive politics, splitting the twin bases on which social democrat electoral success has historically been constructed.

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The cost of inaction on carbon emissions

by David Leigh


With so much deliberately generated uncertainty on climate change and the extenuation of same, it is little wonder that the polls show poor support for the Multi Party Committee on Climate Change (MPCCC) decision to introduce a carbon tax. The Liberal National Coalition decided not to participate and yet its’ leader, Tony Abbott has made it his prime objective to destroy the work of the MPCCC. There have been bold statements about Australia’s premature action. According to Mr Abbott, nobody else is doing anything to mitigate climate change.

One of the countries touted by the Opposition as inactive is the U.K. and yet Britain has just presented its 4th Carbon Budget. The follow up to that is the white paper “Planning Our Electric Future”.

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The Ideological Crisis of Western Capitalism

by Joseph Stiglitz

Just a few years ago, a powerful ideology – the belief in free and unfettered markets – brought the world to the brink of ruin. Even in its hey-day, from the early 1980’s until 2007, American-style deregulated capitalism brought greater material well-being only to the very richest in the richest country of the world. Indeed, over the course of this ideology’s 30-year ascendance, most Americans saw their incomes decline or stagnate year after year.

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Live animal abuse - and Australia's “hidden” foreign policy

By John August

The recent exposure of animal cruelty at Indonesian abattoirs has generated a flurry of interest.  It's becoming clear that the MLA and private concerns had some idea of what was going on, but allegedly "sanitised" the reports.  There was a vested interest in not looking further, and accepted them at face value.

In fact this sort of thing is ingrained.  Long ago, the Australian Government decided to put profits and exchange above human rights.  It may have seemed reasonable at the time, but we've been sliding down the slippery slope ever since.

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