australia

A collection of 98 posts

australia

Building the blocks of blockchain: Part two

Thus far, we have looked at the blockchain and its elements in isolation, and thus, we have yet to explain the most well-known feature of blockchain technology, decentralisation. Consensus in a Distributed Network To achieve decentralisation, the model of the blockchain that we have been discussing so far is distributed

australia

The case for increasing Australia's humanitarian intake

The war in Ukraine has caused the fastest growing refugee crisis since WWII with over 4 million people having fled the country in the past five weeks. In response to the crisis, there are three durable solutions, in which refugees can reclaim rights associated with citizenship: repatriation, local integration, and

australia

Avoiding the disasters of disaster management - Part II

In part 1, we discussed the importance of governments promoting risk-mitigation measures and regulation in the insurance market to reduce insurance premiums and to ease policyholders’ ability to select appropriate insurance coverage. However, these policies alone may not alleviate the most unaffordable insurance premiums in the most risk prone areas,

australia

Avoiding the disasters of disaster management - Part I

Australia has been plagued by unprecedented natural disasters in recent years. Natural disasters cost the Australian economy $18.2 billion annually, a figure that is expected to rise to $39 billion by 2050 due to climate change and urbanization into risk-prone areas. In response, insurance premiums have doubled in the

australia

Black Wednesday: How one man broke the Bank of England

When I talk about foreign exchange (FX) markets, what do you think of? I’m sure you have some memory of being at the airport in a foreign country, standing at a little stall as screens flash a constant stream of numbers telling you how much your AUD is worth

australia

Building the blocks of blockchain: Part 1

‘Commerce on the Internet has come to rely almost exclusively on financial institutions…While the system works…it still suffers from the inherent weaknesses of the trust based model’. The year was 2008, Satoshi Nakamoto, the creator of Bitcoin announced to the world that they have solved this weakness in

australia

Our Economy in 40 Years: Insights from the 2021 Intergenerational Report

Since its first edition in 2002, the Intergenerational Report has served as the government’s economic crystal ball by providing a peek 40 years into the future of the nation. Arguably Treasury’s biggest exercise in macroeconomic forecasting, the report examines current policies and historical trends to paint a picture

australia

Tensions Expose Australia’s Over-Reliance on China

Australia faced one of its biggest challenges in the twenty-first century, in flattening the curve of the coronavirus epidemic. The coronavirus pandemic has torn the economies of many countries to shreds, requiring their reserve banks to implement unprecedented fiscal and monetary policy. Another solution in countries maintaining their economy, was

acemoglu

The Politics of Growth: How Institutions Shape Our World

The world has been permanently changed ever since the inception of the Industrial Revolution in 1760, the main consequence being an era of ‘modern economic growth’. This new age has been characterised through an increase in life expectancy, population explosion, rapid urbanisation, dynamic labour markets and rising per capita income

australia

Fixing our gas woes to power Australia out of recession

Australia’s National Covid-19 Coordination Commission (NCCC) has recently had its draft interim report leaked to the media. It centres around the Manufacturing Taskforce (a project which I discussed in my last article), which has been looking at solving how Australia might recover from the ‘Great Shutdown’ as a more

australia

Getting the market ready for the NDIS

Touted as the largest social policy reform since Medicare,[1] the National Disability Insurance Scheme (NDIS) is a transfer from a state government-run, bulk-funded service delivery for people with disability to a national, market-based individualised system. Its establishment in 2013 marked the NDIS as the only national scheme of its

aquaculture

The rise of aquaculture in Australia

Four hundred and fifty kilometres inland, the small town of Bilbul in southern New South Wales may seem like an unlikely hub of aquaculture in Australia. Yet its water from the Murrumbidgee River and hospitable climate is resulting in the town quickly becoming an ideal hub of fish farming in

agility

How do you solve a problem like inequality?

The ideal of income equality seldom fails to attract fervent support in society. It is one of those concepts that every reasonable person can advocate. It is now apparent that income inequality has been rising over the past decade. Figure 1 from the OECD’s  2015 report In It Together:

australia

Australia and the GFC: a pair of star-crossed lovers

Australia, a few key themes tend to spring up: success, the theories of John Maynard Keynes, and increased production. A bit of context is in order. Firstly, Australia successfully avoided a recession during one of the most impactful global crises in decades. Secondly, John Maynard Keynes is the mind behind

above the line

Double Dissolution, Double Jeopardy: The Senate

A chaotic Senate was one of the defining characteristics of the Coalition’s term in government. It was a key motivating factor in Malcolm Turnbull’s decision to trigger a double dissolution election, which puts all 76 Senators, rather than just half, up for election. The early results, however, suggest

AEC tally room

Australia Doesn't Quite Decide: The House of Reps

First, to the makeup of the parliament. Here’s the headline: a hung Parliament looks increasingly likely. Different websites have different tallies, but, based on their methodologies, some are more useful than others.[1] The ABC only lists seats for either party when one candidate has a 2PP above 51%

Andrew O'Shea

Election 2016: Unimelb Presidents' Pitches

So, after 8 weeks of gaffes, selfies and high-vis vests, the moment of truth has finally arrived. Tomorrow, Australians cast their vote to decide our political future (at least for the next few months, before our traditional mid-term ministerial mutiny). Over the last 24 hours, ESSA has brought you comprehensive

aboriginal and torres strait islanders

Election 2016: Indigenous Affairs

Constitutional recognition All parties have cited a commitment to pursuing a referendum to recognise Indigenous people in the Australian Constitution. Both parties supported, this year, the establishment of a Referendum Council to discuss the proposal and when the referendum should be held, which is currently ongoing. According to the Recognise

auspol

The (empty) ideas boom

Saturday 2 July 2016 will mark the day when the seemingly endless battle between the Coalition and Labour finally draws to an end. Perhaps the most fundamental issue of this campaign has been that of the economy. Both parties have been asked important questions about Australia’s future; how will

ALP

The problems with Australia's political duopoly

With the election only a couple of weeks away, do you feel that your vote will be insignificant? No matter who you vote for, chances are the resulting policies will be bland and unadventurous, lacking innovation we need to lift Australia out of its slumber. In 2014, the ABC reported

atms

The cashless economy: convenience, or an instrument of control?

Arriving at your favourite cash-only coffee shop at uni only to open your wallet and find you are $1 short of a flat white is a familiar experience for plenty of uni students. It is true that many of us have changed our behaviour to preference those card friendly coffee

asia

The Trans-Pacific Partnership: where economics and power politics collide

The Trans-Pacific Partnership is “the next big thing” in international trade. Its 12 members account for about 40% of the world GDP, concentrated around the economically dynamic Pacific region. The deal promises to slash tariffs across a range of products, and to deal with sensitive yet vital issues of 21st

australia

A 30 minute commute? Sprawling in the world’s most liveable city.

In figures released in July 2015, Victoria has become Australia’s largest growing state. Despite the lowest national growth rate since 2011 of 1.4%, Victoria topped the state average with a growth rate of 1.8%. Contrastingly, Malcolm Turnbull seeks a “30 minute city”. At this stage, this is

australia

Economics: an intro

One of the authors of a secondary school textbook that I swotted over doing economics at secondary school died recently. His name was Neville Drohan. He was a highly regarded teacher and Principal at Melbourne High School and a graduate of the University of Melbourne. He also trained economics teachers

australia

The disconnect between economic policy and thought

One of my old economics lecturers used to advise the government on economic policy. He once told me that presenting economic policy to the government can be very unrewarding. He said that what the government considers to be sound policy is often rejected under the guise of being bad politics.