Posts in Finance and economics
Don’t believe what they say about inequality. Some of us are worse off

Professor Peter Whiteford examines the Productivity Commission research paper Rising inequality? A stocktake of the evidence released last week and cautions us not to believe the media spin that all Australians are better off. To tackle inequality, he argues, we need both policies that generate economic growth and policies that ensure it’s well spread. This piece was originally published in The Conversation on 31 August 2018.

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The Cashless Debit Card: Flawed Beyond Technological Redemption

In this article, Dr. Shelley Bielefeld, Professor Eva Cox, and the Accountable Income Management Network Secretariat critique the Mindaroo Foundation’s report on the Cashless Debit Card (CDC). They cite the ‘cherry picking’ of results to support claims of success, a lack of attention to human rights, and security issues, among other points. Ultimately, they argue that the benefits of the CDC for communities are “negligible to negative” and that the proposed expansion of the trial would further marginalise those purported to benefit from the CDC.

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ASIC’s MoneySmart is encouraging women to have regular money conversations

Women face specific challenges when it comes to managing money. They tend to spend more time out of the paid workforce to care for others and this impacts on their ability to generate wealth. The Australian Securities and Investment Commission (ASIC) is aiming to address this issue by normalising conversations about money. Check out these interviews where ASIC’s Laura Higgins chats with five influential and inspirational Australian women about their experiences with money.

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Modern Slavery Bill a step in the right direction – now businesses must comply

This week has seen a significant milestone in the fight against modern slavery as the Modern Slavery Bill was introduced into the Australian parliament. When passed, the law will require companies with an annual turnover of more than $100 million to report annually on the risks of modern slavery in their operations and supply chains, and on the actions to address these. Fiona McGaughey (University of Western Australia) and Justine Nolan (UNSW) explain more.

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Why we don't need to prepare young people for the 'future of work'

While there is little consensus about the “future of work”, one thing is certain – young people are at the coalface. Young workers experience insufficient opportunities for work experience, a mismatch between work and education, a lack of career management skills and scant entry-level jobs, according to a report from the Foundation for Young Australians. In this post, Shirley Jackson from the University of Melbourne, says we need to stop fixating on increasing the supply of talented young people, and start addressing the lack of demand.

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Australian Government Budget 2018-19: Response from the Centre for Social Impact

What does the 2018-19 Budget mean for society? Is this budget creating the Australia we want? This piece summarises the Centre For Social Impact's response to last week's budget release. The Centre for Social Impact is a collaboration between the University of New South Wales Sydney, the University of Western Australia and Swinburne University of Technology, with the purpose to catalyse social change. According to the Centre's Chief Executive Officer, Professor Kristy Muir, the budget does not do enough to support the most disadvantaged or to address key social issues.

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Financial inclusion, basic bank accounts, and the Cashless Debit Card

The Cashless Debit Card Symposium was held at both the University of Melbourne and the Alfred Deakin Institute on Thursday, the 1st of February 2018. The Power to Persuade is running a series of blogs drawn from the presentations made on the day. In this piece, David Tennant of FamilyCare Shepparton and Policy Whisperer Susan Maury (@SusanMaury) of Good Shepherd Australia New Zealand assess the Cashless Debit Card (CDC) as a tool for promoting financial inclusion, and find it comes up well short. ​​​​​​​

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Looking at the Australian Social Security System through a Trauma-Informed Lens

The Cashless Debit Card Symposium was held at both the University of Melbourne and the Alfred Deakin Institute on Thursday, the 1st of February 2018. The Power to Persuade is running a series of blogs drawn from the presentations made on the day. In this piece, Katherine Curchin from Australia National University uses a trauma-informed lens to assess the effectiveness of the Cashless Debit Card to address the social issues it was introduced to address.

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Trailblazers working together in cross-sector initiative to address financial exclusion

The Financial Inclusion Action Plan (FIAP) is an innovative collaboration that sees organisations across industry, government, not-for-profits and education coming together to improve financial inclusion and resilience across Australia. Here Vinita Godinho and Abigail Powell explain the importance of a program such as this and reveal findings from the evaluation of phase one of the FIAP program.

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How the ‘child penalty’ matters for domestic and family violence (and what we can do about it)

The ‘gender pay gap’ is a major contributor to conditions that enable and perpetuate domestic and family violence. That women on average earn much less than men increases their vulnerability to financial abuse, makes it difficult for them to leave violent relationships, and leaves them much worse off financially if they do leave. Recent research suggests that it’s the ‘child penalty’ more than anything else that is currently driving the pay gap. ANZSOG Research Fellow Sophie Yates (@MsSophieRae), who is completing a PhD on gender and domestic and family violence, reflects on the importance of changing our expectations about who will take care of children if we want to significantly reduce family violence.

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It’s time for Australia to think bigger on big data

In the new age of big data, firms are gathering comprehensive information about consumers - transaction and consumption data, browsing history, social network, or location data - that is increasingly tipping the scales in the firms' favour. In this post, Lauren Solomon, Chief Executive Officer of the Consumer Policy Research Centre,  reflects on the need to broaden our understanding of consumer data issues in Australia, beyond establishing a Consumer Data Right and the Review into Open Banking. This piece was originally published in The Mandarin.

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Nicholas Gruen: The academy and partners try wellbeing frameworks

Economist Nicholas Gruen looks at problems with various attempts to measure wellbeing and the struggle to get from noble principles to practical outcomes. This is a repost from the Mandarin of a part three of Nicholas Gruen’s essay series about the difficulty of translating policy into outcomes. Read part one, on wellbeing frameworks, and part two on commonsense hacks government could use to bolster Australians’ wellbeing.

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A Universal Basic Income may be a good idea, but... we will still need social security that works

The idea of a Universal Basic Income (UBI) is gaining traction in Australia and around the globe. While a UBI has the potential to lift people and communities out of poverty, Michael Fletcher from the Aukland University of Technology warns us that it is not a panacea; government still needs to provide comprehensive services and tailored support. This policy analysis originally appeared on the New Zealand web site Briefing Papers, and can be viewed here.

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The value of a home cooked meal: Economic theory and productive and non-productive work

Tanya Corrie of Good Shepherd Australia New Zealand facilitated the recent Good Conversation – Economic Frameworks and Women’s Human Rights. The panel discussion concerned gender equity and the limits of economics in examining public policy and welfare. This is an edited version of Tanya’s introduction to the event.
 

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The Cost of Collaboration: More than budgeted for?

Collaboration remains the ‘go to’ or ‘gold-star’ strategy as governments, business and community look to connect people, break down silos, cross boundaries, build partnerships and generate collective impact. All of which leads to collaborative advantage.  It is likely that this preference will continue well into the future. The allure of collaboration is seen as self-evident: by leveraging the synergies formed from working together, innovation is possible, new knowledge is built, and complex, intractable social and economic problems can be resolved. In addition to these social benefits are the expected cost savings to be had from working in more connected or integrated ways. Robyn Keast*, Michael Charles* and Piotr Modzelewski** discuss the cost of collaboration.

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Federal Budget’s support of universal services undermined by divisive welfare approach

The 2017 Federal budget unveiled by the Coalition held many surprises, mainly in the efforts it went to achieve distance from the disastrous 2014 budget.  With significant investment into education, health and housing, some even called it a ‘Labor light budget’.  However, these positive inputs are offset by the increasingly punitive approach to people on welfare, contrary to what evidence indicates is effective policy. In today’s post Kathy Landvogt highlights some of the most concerning aspects of the government’s stance towards people on welfare and how it will set Australia back as the land of the ‘fair go.’ This blog originally appeared on the Good Shepherd Australia New Zealand web site.

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