A Viable Rival Currency

People often say of LETS (Local Exchange Trading System) “I don’t know why it hasn’t taken off – it’s such a good idea!”

In this opinion piece, I look at what’s holding LETS back, and suggest a solution.

We can buy almost anything with the Aussie dollar, so why do we bother with LETS? Read More …

Capitalism is idealism, perfected

For many of us, the market is an actual gathering of human buyers and sellers, chatting, tasting and sharing produce, which is often fresh and artisanal. At market benches and shop counters, people display and take in a community meal. Mainstream economists turned that market Read More …

The gig economy – winners and losers

Workers in the ‘gig economy’ might be delivering your pizza, programming the app that allows the transaction, or own the platform and 15% of each transaction. Like the internet itself, the gig economy is proof that equality of opportunity has no relationship to equity or equality of outcome.

It is easier than ever to own one’s own business – Jeff Bezos does, he owns Amazon. Valued at $156 billion he’s the world’s richest. The median salary of an Amazon employee is $AUS 39000. The bike riders that deliver food get paid as little as $6.70 per hour. In many ways the gig economy represents uber-casualisation and income polarisation of the workforce.

Read More …