Banking on Profits

Letter to The Age October 10th, 2017 How ironic that boss Ian Narev is concerned that global wage growth has been “relatively weak” (‘CBA boss says sorry over ATM scandal’, The Age, 7/10). Adam Smith noted in Wealth of Nations that privatised...

Boom-bust and the Australian banks

Australia experienced an increasingly gigantic bubble in land prices during the 1880s and the beginning of the 1890s, and the city of Melbourne became bubble-central. Michael Cannon provides an excellent account of the period in The Land Boomers. Henry George’s...

The bank cartel has a new enemy

The federal Treasurer Scott Morrison used parliament yesterday to fire an extraordinary broadside at Australia’s banking cartel. Conservative governments rarely indulge in the public thrashing of such major supporters of the status quo. Morrison and the Turnbull...

Challenging the banks

The Bernie Sanders-Hillary Clinton contest in the debates for Democratic Party presidential nominee is paring back to whether Main Street should challenge the Big End of Town. Sanders has questioned Clinton’s judgment at least, in accepting $225,000 to speak...