Until 1844 commercial banks in Britain could print their own banknotes. In 1844 the Conservative Government of Robert Peel passed the Bank Charter Act 1844. This gave exclusive powers to the Bank of England to issue paper money and coins. Likewise, the Reserve Bank of Australia “designs, produces and issues Australia’s banknotes, with the objective […]
China, the US and Intellectual Property Theft
Allegations of intellectual property theft and forced technology transfer are one of the primary grounds that the Trump administration relies upon in the trade war against China. Of the many criticisms of China from the Trump administration, those on forced technology transfer have been among the fiercest. “Forced” Technology Transfer Forced technology transfer means that […]
La amenaza tecnológica al igualdad
A lo largo de la historia, las clases altas siempre han alegado que su riqueza era resultado de su inteligencia, fortaleza y superioridad con respecto a las clases más bajas. Estas afirmaciones fueron, y siguen siendo, en gran parte, ilusiones. Las ventajas de las clases altas son socio-políticas, no “biológicas”. Pero con los nuevos desarrollos […]
Labor’s economic policies and modern monetary theory
In some ways the policies Labor took to the last election were the most progressive policies it has adopted for years. But in other ways Labor policies conformed to economic orthodoxy. For example: the federal government’s budget should return to surplus as soon as possible; in order to be economically responsible, all new spending programs […]
Three Long Years
Some time, around 2005 or 2006, Bill Shorten was seeking to knock off the sitting member for Maribynong Bob Sercomb. They were both members of Labor’s right. But for various reasons the left, or parts of it, wanted to block Shorten’s pre-selection. Shorten gained a front page headline in ‘The Australian’ calling for Australia’s top […]
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