Category: economics

11 Jun


Post-Budget: Just what the hell is Abbott up to?



In today’s Sydney Morning Herald, Economics Editor Ross Gittins portrays Tony Abbott as a political “chameleon” who went from being a soft “populist” before the election — backing Labor’s spending commitments, promising minimal cuts despite saying that the Budget deficit needed to be reversed, etc. — to “an inflexible ‘conviction politician’ who doesn’t seem much worried […]

18 May


Dazed & confused: The Left, Palmer & Budget 2014



We are very concerned about the risk that savings are falling too heavily on some families and young people trying to find work. —Jennifer Westacott, Chief Executive of the Business Council of Australia I don’t think even the colleagues realise the extent to which Tony has locked in a strategy from which he cannot turn […]

09 May


Abbott & Hockey’s ‘age of (political) incoherence’



It was great fun speaking alongside ACOSS policy officer Emily Hamilton and radical economist Steve Keen at the Northside Forum in the heart of Joe Hockey’s electorate last Saturday. Close to 100 people packed into the function room at the Union Hotel to hear us speak and participate in a Q&A. Thanks to the organisers for inviting us — the […]

23 Sep


The modern crisis of Australian Laborism (Part 2)


What happens now?

By MARC NEWMAN This article continues the analysis of Labor’s crisis — especially in terms of its meaning for trade unions and social movements — begun here. Despite the defeat of the ALP, the election was not a crushing victory for the conservatives. Fewer seats fell than expected, and some of the LNP gains in the lower […]

18 Sep


The modern crisis of Australian Laborism (Part 1)


Hawke Keating colour

In the first of two posts on the modern crisis of Australian Laborism, MARC NEWMAN looks at the roots of the ALP’s problems in its embrace of neoliberalism in the 1980s. *** Labor’s voter base remained stable for the bulk of the 20th century, through numerous changes in political circumstances. It only dipped below a 40 […]

09 Jul

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Jacobin Book Club: The Making of Global Capitalism



Jacobin magazine has just started their inaugural Book Club seminar on Panitch and Gindin’s The Making of Global Capitalism. Up today is my contribution, ‘Within or Against the State‘, which is chiefly in response to how the authors conceive of the state in relation to class struggle. Also available to be read, with more to follow, […]

15 Feb


Truth, lies & narratives: What ALP’s crisis is not about



In a considered piece at ABC’s The Drum on Thursday, Jonathan Green highlighted a phenomenon that seems to overwhelm Australian politics — the inability of simple facts about the Gillard Government’s performance to overcome the stench of crisis hanging over it. He is correct to point out “that in assuming that the mere facts of its […]

17 Aug


Trapped by orthodoxy: The Greens and the myths of the market


Are Greens campaigns like this soon to be a thing of the past?

In the last week the Australian Greens have played an important role in denying the illusion of consensus over the asylum policy “compromise” reached between the major parties. However, in recent years they have also increasingly adapted their economic policies to neoliberal orthodoxy. The Tasmanian Greens have led the charge, with leader Nick McKim becoming […]

Filed under: economics, Featured, Greens

04 Jul


Steve Keen’s critique of Marx’s Theory of Value: A rejoinder


Steve Keen

With good reason Sydney-based economist Steve Keen has developed a local and international reputation as a sharp critic of neoclassical economics. For performing this valuable service he has earned the scorn of the neoliberal ideologues dominating mainstream economic commentary. Yet Keen is also a critic of Marx’s approach to political economy, and Left Flank here […]

08 May


The moment has passed: Megalogenis & the twilight of the reform agenda



Today, I’ll be reviewing George Megalogenis’ book, The Australian Moment, for you*. It is notable for two things. Firstly, it is hymn to Australia’s class war from above reform era of the 1980s and 90s — but tinged also with regret that since about 1993 the political class has lost the will to fight the good […]