Way back in 1927 German physicist Werner Heisenberg described the Uncertainty Principle that applies to quantum mechanics. It states that the more precisely the position of a particle is determined, the less precisely its momentum can be known, and vice versa. With apologies to Heisenberg and quant... Read More
Yes, you read the title correctly. Donald J Trump will be the 45th President of the United States of America after amassing more ‘Electoral College’ votes on 8 November 2016. It doesn’t matter that Clinton won the popular vote as the ‘Electoral College’ is where you need to outperform. The reality i... Read More
Housing affordability is perceived to be an issue in Australia. In some areas of Australia, the median price of a house is in excess of $1million and there is some justification in the common questions around how on earth can a young couple ever be able to afford a house in that market. There are a ... Read More
In the past fortnight, the Turnbull Coalition government announced proposed legislation to ensure that each person on Manus Island or Nauru sentenced to the cruel and unusual punishment for no legal or moral reason since an arbitrary date in 2013, will never come to Australia. That’s never ever; doe... Read More
Inequality has been the subject of several pieces on The Political Sword. They have focussed primarily on income and wealth inequality, which afflicts massive swathes of the world’s peoples, consigning them to constrained lives where poverty, underprivilege, disadvantage, and lack of opportunity has... Read More
[The bookcases that were too big to move]
A lot of employers place significant levels of trust in their employees. Retailers trust their employees to charge the customers the correct amount for the products they sell and put the money into the register; airlines trust that their employees are fit ... Read More
On 20 October, the ABS released its labour force survey data for September 2016. The media duly reported the drop in unemployment from an upwardly revised 5.7% for the previous month to 5.6% but most also picked up that this was largely a result of a drop in the participation rate, from 64.7% to 64.... Read More
There are two outcomes of the US presidential election that should horrify us all: Trump wins or Trump loses.
The horror of his winning leaves little to the imagination. We can see from his words and actions that on the personal front he is an ugly misogynist and a womanizer, yet is disrespectful... Read More
Banks have been in the news recently and there is a clear difference in the approaches of the government and the opposition. While some may suggest that Bill Shorten is being populist in his call for a Royal Commission into the activities of the banks, particularly the ‘big four’, it is clear that T... Read More
Let’s stand back from the daily tumult of federal politics momentarily, hard though it is to ignore, and look into the distance. What do we see? Given that politicians believe their role is to make this nation a better one for us all, where is the evidence of them planning to make it so? Where is th... Read More
Donald Trump, in his mind anyway, is the next President of the United States of America. Last week, he was in deeper hot water than usual when a tape of a conversation between Trump and a reporter from Access Hollywood regarding his sexual exploits with women, made a decade ago, was released. Trump ... Read More
It was Karl Marx who said History repeats itself, first as tragedy, second as farce. Malcolm Turnbull gives contemporary credence to these words.
Seven years ago, in August 2009, as Malcolm Turnbull’s time as Leader of the Opposition seemed close to its end, I wrote The Turnbull endgame? Fou... Read More
Assuming the Opposition agrees, there will be a plebiscite on the proposition to allow same sex marriage in Australia in February 2017. The independents in the parliament have (mostly) stated their positions on the matter and the Greens are against the plebiscite but in favour of same sex marriage.&... Read More
In my inbox each day I get an e-mail from The Washington Post called The Daily 202. This year it has been, as is to be expected, mostly about the American Presidential primaries and forthcoming election but, in reporting Bernie Sanders’ primary win in West Virginia back on 10 May, it stated the win ... Read More
I expect most of you would answer with a resounding YES. They make us sick when they lie, break promises, assail us with mendacious rhetoric, engage in adversarial behaviour, fail to recognise this nation's problems, seek to blame their opponents for any ills we have, and exhibit incompetence in doi... Read More
In 1930 John Maynard Keynes predicted widespread technological unemployment ‘due to our discovery of means of economising the use of labour outrunning the pace at which we can find new uses for labour’.
In the decades since there has been rapidly increasing technological change but employment ha... Read More
When you reflect on the dilapidated state of federal politics; when you question how on earth we have become encumbered with so many appalling policies, do you ever ask: 'Why is it so?'
I do often. And when I do, one culprit emerges over and again. Who is it?
Who in this motley co... Read More
Modern Monetary Theory (MMT) is a macroeconomic theory for the current age in which governments have abandoned the gold standard and also floated their currencies. It is ‘macroeconomic’ and ‘monetary’ because many of its conclusions relate to the money supply in an economy. Does it offer scope for a... Read More
At the risk of earning a Godwin Award in the first sentence, according to those who staffed his office, Hitler was a kind and paternal man. Apparently Goebbels was kind to his family as are no doubt most of the world’s leaders today.
However, the same people who make sure they are kind to ... Read More
Last week I suggested that modern economic theory has lost sight of people but the reality is now becoming that many segments of the economy require fewer people to undertake the work and that has serious implications not just for the people losing their jobs but for the broader economy.
T... Read More