Penalty rates: Why should Sunday stay special?

Thu, 02 Mar 2017  |  

Click on the link to hear the podcast of me on The Minefield talking Sunday penalty rates, among other things, with Scott Stephens and Waleed Aly.

https://www.abc.net.au/radionational/programs/theminefield/penalty-rates:-why-should-sunday-stay-special/8310496 

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Late last week, the Fair Work Commission handed down its long awaited decision to reduce penalty rates for Sunday workers in fast-food, retail and hospitality.

Federal politicians promptly framed the matter in the predictable terms of the conflict between the interests of Capital and the interests of Labour, and took their sides accordingly. But is the tension between Capital and Labour – the sustainability of small business versus the rights of workers – really what is at the heart of this matter, or is there something deeper at stake?

One of the more conspicuous effects of secular modernity has been to de-sacralise or de-differentiate time: there are no more Sabbaths and no more holy days; leisure is more of an obligatory respite from work than an occasion to enjoy what is of greater worth; time is reduced to an undifferentiated commodity whose sole value resides in its ability to create more value. Within this logic, the very idea of ‘weekends’ cannot finally be anything more than quaint, an illegitimate leftover from a different age.

Questions of economic justice and the relationship between economy and society are, to be sure, central to the current arguments over penalty rates. But unless we revisit the relationship between time and non-economic conceptions of value, it is doubtful that any argument can long withstand the inexorable logic of capitalism.

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THE LATEST FROM THE KOUK

Why are Bill Shorten and Labor scared to run on the economy?

Tue, 21 Mar 2017

This article first appeared on The Guardian website at this link: https://www.theguardian.com/australia-news/2017/mar/16/why-are-bill-shorten-and-labor-scared-to-run-on-the-economy 

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Why are Bill Shorten and Labor scared to run on the economy?

The dust is settling from the Western Australian election and there are some implications for the way the federal Labor party should conduct itself from now until the next election if it is to enhance its chances of winning.

For the Liberal party, the lessons are clear. It might sound trite to mention it but its electoral success will depend almost exclusively on its ability to deliver materially better economic conditions between now and election day.

For Labor, the task is easier. It needs to take the initiative on the economy, economic policy, the budget deficit and government debt and highlight how poor the Coalition has been in most aspects of economic managements since the 2013 election.

In those three-and-a-half years of the Coalition being in charge of the economy and budget, growth has been sluggish despite favourable conditions in Australia’s major trading partners. The Australian economy should be stronger because of the welcome news of the Australian dollar falling sharply in recent years, which has provided a boost to domestic economic conditions. What’s more, interest rates have been cut to record lows, yet the economy has been struggling to register annual GDP growth near 2.5%, the unemployment rate is the same as when the Coalition won the 2013 election, wages growth has plummeted to a record low, and the government debt has grown significantly faster than during the previous Labor government, which of course included the fiscal stimulus measures that kept Australia out of recession.

Ever since the mid-1990s, the Labor party has been reluctant to run hard on issues to do with the economy. For some reason, it is riddled with self-doubt that stems, it appears, from the high interest rates of the late 1980s and early 1990s, and its proactive use of budget debts and moderate debt accumulation during the global crisis to ensure Australia kept growing and to protect an estimated 200,000 jobs.

A $2 billion national building snow job

Sat, 18 Mar 2017

Prime Minister Malcolm Turnbull reckons his Snowy Hydro $2 billion investment is a “nation building project”.

Yes, that is what he said. Really. Turnbull think a one-off $2 billion government infrastructure project is “nation building”.

Let’s look at $2 billion in the context of the Australian economy.

In the December quarter 2016, Australia’s GDP was $435,445 billion dollars (seasonally adjusted). This works out at $4,769 billion a day which makes the $2 billion snow job about 10 hours GDP.

Useful? Sure!

Nation building? Ha!

By 2020, Australia’s GDP will be around $510,000 billion a quarter and $2 billion will be akin to about 8 hours GDP.

Here’s what elese $2 billion is now days.