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Author: Paul Cleary
Publisher: ReadHowYouWant.com
ISBN: 1459625064
Category : Political Science
Languages : en
Pages : 210
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Book Description
We think we are the lucky country, but what we really have is dumb luck - too much luck, more than we know what to do with.' - Paul Cleary In Too Much Luck, Paul Cleary shows how the resource boom, which seems a blessing, could well become a curse. We have never seen a boom quite like this one. Under - taxed and under - regulated, multinational companies are making colossal profits by selling off non - renewable resources. New projects are being rushed through weekly, but who is looking out for the public interest? As the boom accelerates, it will drive the dollar higher and higher, and force up the cost of doing business for everyone else. Industries that involve many jobs, such as tourism and education, will fade away. What happens if commodity prices suddenly collapse, as they have in the past? Or worse, when the resources run out? Many countries before us have been caught by the resource trap: a heady period of boom and growth, followed by a painful bust. Paul Cleary maps out the pitfalls, counts the human and environmental costs, shows what has worked overseas and suggests a better way forward - one which would turn this one - off windfall into a lasting legacy.
Author: Paul Cleary
Publisher: ReadHowYouWant.com
ISBN: 1459625064
Category : Political Science
Languages : en
Pages : 210
Get Book Here
Book Description
We think we are the lucky country, but what we really have is dumb luck - too much luck, more than we know what to do with.' - Paul Cleary In Too Much Luck, Paul Cleary shows how the resource boom, which seems a blessing, could well become a curse. We have never seen a boom quite like this one. Under - taxed and under - regulated, multinational companies are making colossal profits by selling off non - renewable resources. New projects are being rushed through weekly, but who is looking out for the public interest? As the boom accelerates, it will drive the dollar higher and higher, and force up the cost of doing business for everyone else. Industries that involve many jobs, such as tourism and education, will fade away. What happens if commodity prices suddenly collapse, as they have in the past? Or worse, when the resources run out? Many countries before us have been caught by the resource trap: a heady period of boom and growth, followed by a painful bust. Paul Cleary maps out the pitfalls, counts the human and environmental costs, shows what has worked overseas and suggests a better way forward - one which would turn this one - off windfall into a lasting legacy.
Author: Justin Healey
Publisher:
ISBN: 9781921507922
Category : Australia
Languages : en
Pages : 60
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Book Description
Contains previously published information sourced frpm newspaper, magazines, journals, government reports, surveys, websites and lobby group literature. --Publisher.
Author: Royce Kurmelovs
Publisher: Hachette Australia
ISBN: 0733638732
Category : Business & Economics
Languages : en
Pages : 304
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Book Description
This is a cautionary tale. About greed, irresponsibility and failing to learn from the past. Australia's mining boom is still talked about with a sense of awe. This once-in-a-lifetime event capped off 25 straight years of economic growth. Thanks to mining we sidestepped the worst of the Global Financial Crisis. To the rest of the world Australia was an economic miracle. And then the boom ended. Now Australia is grappling with what that means at a time of rising economic inequality and political upheaval. The end of the boom isn't about money - it's about people. Boom and Bust looks at what happens to those who came into vast wealth only to watch it dry up. To those who thought they had a good job for life, but didn't. The bust didn't just happen on stock-market screens - it was lived, and is still being lived right now, in dusty towns and cities all around the country. As he did in his bestselling book The Death of Holden, Royce Kurmelovs reveals the reality behind the headlines. Boom and Bust is a dirt-under-the-nails look at the winners, the losers and the impact of the boom that wasn't meant to end. This is a book all Australians should read. 'Brilliant and powerful' Nick Xenophon on Royce Kurmelovs' THE DEATH OF HOLDEN
Author: Trevor Sykes
Publisher: Allen & Unwin
ISBN: 1743432313
Category : Business & Economics
Languages : en
Pages : 410
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Book Description
Until September 1969, Poseidon was a name known only to a handful of investors. Then, in the space of four months, the stock rocketed from 80 cents to $280 a share, and pushed the speculative share market sky-high. All of a sudden, thousands of ordinary Australians who had never seen a mine or even a stock exchange were gambling in the wildest stock market boom the nation has ever seen. Millions of dollars were won and lost in a matter of hours. Sadly, just about everyone lost in the end. So what happened? And why? In The Money Miners, Trevor Sykes writes of how and why mining shares rose and fell so dramatically, and traces the scandals and collapse of many companies - Poseidon, Tasminex, Queensland Mines, Minsec, Patrick Partners and others. Ultimately, this is a story of greed, a story of those who were more interested in mining money rather than minerals.
Author: Allan Trench
Publisher:
ISBN: 9780980756494
Category : Investments
Languages : en
Pages : 475
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Book Description
The Australian Mining Industry is a major contributor to the national economy. The export revenues from the various metals and minerals mined from 'The Lucky Country' read like telephone numbers; make those international telephone numbers. Dubious investors may be concerned whether what has become a hot sector of the Australian sharemarket will continue to show growth in 2011. Or has all the future value of high commodity prices already been priced into resources company share prices? For some resources stocks, the answer is yes: The values of some companies in this author's opinion have become stretched. But for other resources stocks the answer is absolutely not: There are still spectacular share price gains around the corner for a number of resources stocks. 'A Sharebuyer's Guide to Investing in the Australian Mining Boom' will help you evaluate which stocks in the mining sector have the best chance of outperforming the market. Includes an A to Z (Aluminium to Zinc) of commodities and company profiles of 40 Emerging ASX-listed Resources Companies.
Author: Peter Downes
Publisher:
ISBN:
Category :
Languages : en
Pages : 44
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Book Description
Author: W. Max Corden
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
'Dutch Disease' refers to the adverse effects through real exchange rate appreciation that the mining boom can have on various export- and import-competing industries. The distinction is made between the booming sector (mining), the lagging sector (exports not part of the booming sector and import-competing goods and services) and the non-tradeable sector. What should the government do to reduce this Dutch 'disease'? The principal options are: do nothing, piecemeal protectionism, moderate exchange rate effects by running a fiscal surplus, combined with lowering the interest rate, and possibly establishing a sovereign wealth fund. The costs of the latter measures may be considerable.
Author: A. Fitzgibbons
Publisher:
ISBN:
Category :
Languages : en
Pages : 16
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Book Description
Author: Robert G. Gregory
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
Author: Ian W. McLean
Publisher: Princeton University Press
ISBN: 0691171335
Category : Business & Economics
Languages : en
Pages : 300
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Book Description
This book is the first comprehensive account of how Australia attained the world's highest living standards within a few decades of European settlement, and how the nation has sustained an enviable level of income to the present. Why Australia Prospered is a fascinating historical examination of how Australia cultivated and sustained economic growth and success. Beginning with the Aboriginal economy at the end of the eighteenth century, Ian McLean argues that Australia's remarkable prosperity across nearly two centuries was reached and maintained by several shifting factors. These included imperial policies, favorable demographic characteristics, natural resource abundance, institutional adaptability and innovation, and growth-enhancing policy responses to major economic shocks, such as war, depression, and resource discoveries. Natural resource abundance in Australia played a prominent role in some periods and faded during others, but overall, and contrary to the conventional view of economists, it was a blessing rather than a curse. McLean shows that Australia's location was not a hindrance when the international economy was centered in the North Atlantic, and became a positive influence following Asia's modernization. Participation in the world trading system, when it flourished, brought significant benefits, and during the interwar period when it did not, Australia's protection of domestic manufacturing did not significantly stall growth. McLean also considers how the country's notorious origins as a convict settlement positively influenced early productivity levels, and how British imperial policies enhanced prosperity during the colonial period. He looks at Australia's recent resource-based prosperity in historical perspective, and reveals striking elements of continuity that have underpinned the evolution of the country's economy since the nineteenth century.
