17 September 2015, The Conversation. Australia is among the most liveable nations, but it lags other countries on sustainability. Australia may be one of the most liveable places in the world, but a new report ranks us in the middle when it comes to sustainability. Of the 34 OECD countries, Australia ranked 18th. The report compared OECD countries’ performance against the new Sustainable Development Goals, to be formalised in New York at the end of this month. The top five countries were Sweden, Norway, Denmark, Finland and Switzerland. The bottom five were Mexico, Turkey, Hungary, Chile and Greece. The United States came in 29th, New Zealand 16th, the United Kingdom 15th, and Canada 11th. So how did Australia get such a mediocre result? Sustainable development: a matter for everyone. Later this month, the UN General Assembly will make a final decision on the adoption of the post-2015 development agenda including the articulation of 17 Sustainable Development Goals that have been developed over the past three years through an extensive international and cross-sector process of consultation. The 17 SDGs extend the original Millennium Development Goals) that were established in 2000 with a target date of 2015. Progress against the MDGs is largely regarded as satisfactory, but it is well accepted that further progress on sustainable development is required, as articulated in the outcome document of the 2012 Rio +20 Summit. Unlike the Millennium Development Goals, the new goals include developed countries. Sustainable development is a global matter to which all countries must turn their focus, whatever their development status. How Australia measures up? Read More here
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17 September 2015, The Conversation, Free trade agreements fail to boost Australian agriculture and food manufacturing. Many claims are made that Free Trade Agreements (FTAs) with select trading partners will benefit Australian agriculture. OECD statistics say otherwise. The balance of trade positions of Australian agriculture and food manufacturing have deteriorated since FTAs with New Zealand, the United States and Thailand have come into play. The long-standing 1983 New Zealand arrangement shows growing imports of processed food products, especially since 2000. Australian food exports to New Zealand have levelled off since 2011 with a US$600 million Australian deficit on food products in 2014. Agricultural goods have been close to balance with just over US$270 million of raw or minimally processed product flowing each way. The net result (shown in black) has been a persistent and generally worsening deficit for Australia in its agriculture and food trade with New Zealand for the whole period. Read More here
16 September 2015, The Daly News, What is Wrong with a Zero Interest Rate? The stock market took a dip, so the Fed will likely continue to keep the interest rate at zero, in conformity with its goal of supporting asset prices by quantitative easing. What is wrong with a zero interest rate? Doesn’t it boost investment, growth, and employment? There are many things wrong with a zero interest rate. Remember that the interest rate is a price paid to savers by borrowing investors. At a zero price, savers will save less and receive less return on past savings. Savers and pensioners are penalized. At a near zero price for borrowed funds, investors are being subsidized and will invest in just about anything, leading to many poor investments and negative returns, furthering the economy’s already advanced transition from economic to uneconomic growth. Zero interest promotes an infinite demand for savings with zero new supply. But the “supply” is provided artificially by the Fed printing money. Read More here
16 September 2015, The Guardian, Stopping fracking won’t stop climate change. I am neither pro nor anti-fracking, but green campaigners must look beyond future threats and tackle the present impacts of fossil fuels if we are to combat climate change…. My concern with the current debate about fracking stems not from any love of the technology but from the fact that it is currently absorbing people’s time and energy fighting potential future impacts, when all around us are far worse existing activities, such as burning Russian coal in 1960s’ power stations. It seems some in the green movement work on the basis that their best chances of making a difference lie in stopping threats that have yet to happen, rather than the impacts that are already with us. Anti new road protests, anti GM, anti incinerators, anti biofuel, anti new nuclear, even stopping the building of the new Kingsnorth coal fired power station – all are examples of this brand of campaigning. Done well they can penetrate the political discourse and change the debate. The problem, however, with whipping up fear of future threats is that it can also lead to fixed ideological positions being adopted in the absence of any actual evidence of harm, and, unless we start blocking the things that are already happening, we risk locking ourselves into the flawed and damaging system we have today. This is of particular concern because it is not just the green movement that has learned the game of how to stop new things from happening. Stoking nimbyism can carry risks for all who seek action on global issues. Read More here