Download or read book Too Much Luck written by Paul Cleary and published by ReadHowYouWant.com. This book was released on 2011-08-10 with total page 210 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Boom and Bust written by Royce Kurmelovs and published by Hachette Australia. This book was released on 2018-08-28 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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
Download or read book Australia s Mining Boom written by Justin Healey and published by . This book was released on 2012 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: Contains previously published information sourced frpm newspaper, magazines, journals, government reports, surveys, websites and lobby group literature. --Publisher.
Download or read book The Money Miners written by Trevor Sykes and published by Allen & Unwin. This book was released on 1995-05-01 with total page 410 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book A Sharebuyer s Guide to Investing in the Australian Mining Boom written by Allan Trench and published by . This book was released on 2011 with total page 475 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book The Effect of the Mining Boom on the Australian Economy written by Peter Downes and published by . This book was released on 2014 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The causes of the Australian mining boom written by A. Fitzgibbons and published by . This book was released on 1974 with total page 16 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Dutch Disease in Australia written by W. Max Corden and published by . This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: '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.
Download or read book Living Standards Terms of Trade and Foreign Ownership written by Robert G. Gregory and published by . This book was released on 2011 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Why Australia Prospered written by Ian W. McLean and published by Princeton University Press. This book was released on 2016-05-24 with total page 300 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book The Pilbara written by Bradon Ellem and published by Apollo Books. This book was released on 2017 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Pilbara, a large, thinly populated region in the north of Western Australia, has become central to the Australian economy and imagination. With millions of tons of iron ore shipped to China, the Pilbara is a media staple, through stories of mining companies' profits, the earnings of fly-in-fly-out workers, and the wealth of new entrepreneurs. For all this, what we know about a vital region such as the Pilbara remains incomplete. The boomtime stories do not reveal much about the Pilbara itself, a place completely transformed across fifty years of mining. No one has acknowledged the Pilbara's ancient history, or the men and women who worked there from the 1960s, building unions and making communities as they worked the mines. In those days, the Pilbara excited both hope and dread about its workers and their power. "From the deserts prophets come," AD Hope wrote years before in his poem, Australia. And it appeared that the Pilbara might be the site of a novel kind of unionism, with workers winning not only high wages but control of the places where they worked and the towns where they lived. But it was not to be. Starting in the 1980s, the companies fought back, defeating the unions and remaking the Pilbara. The managers were now the prophets, with new ways of organising work and managing workers. The companies reinvented the Pilbara through workplace control, fly-in-fly-out labor, and twelve-hour shifts. Their vision reshaped not just the desert but the cities, not just the work in mines and ports but in offices and shops. When the biggest boom in mining history came along, it unfolded across a Pilbara landscape very different from a generation earlier. The union prophets were gone; the companies' profits grew. This book reveals the story of fifty years of conflict over work and life in the Pilbara, and how this conflict has affected the rest of Australia. [Subject: Australian Studies, Labor History]
Download or read book The Cambridge Economic History of Australia written by Simon Ville and published by Cambridge University Press. This book was released on 2014-10-08 with total page 710 pages. Available in PDF, EPUB and Kindle. Book excerpt: Australia's economic history is the story of the transformation of an indigenous economy and a small convict settlement into a nation of nearly 23 million people with advanced economic, social and political structures. It is a history of vast lands with rich, exploitable resources, of adversity in war, and of prosperity and nation building. It is also a history of human behaviour and the institutions created to harness and govern human endeavour. This account provides a systematic and comprehensive treatment of the nation's economic foundations, growth, resilience and future, in an engaging, contemporary narrative. It examines key themes such as the centrality of land and its usage, the role of migrant human capital, the tension between development and the environment, and Australia's interaction with the international economy. Written by a team of eminent economic historians, The Cambridge Economic History of Australia is the definitive study of Australia's economic past and present.
Download or read book Beating Around the Bush written by Matt Grudnoff and published by . This book was released on 2012 with total page 11 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Since the beginning of the mining boom Australia's rural sector has lost $43.5 billion in export income. This includes $14.9 billion in 2010-11 alone. These losses have occurred because the mining boom has forced the Australian dollar to historic highs. The damage the mining boom is doing to other sectors has created what has been dubbed the 'two speed economy'. The booming mining industry has pushed up the Australian exchange rate and in doing so has cut the export earnings of trade-exposed parts of the economy. ... The idea that any growth in the mining sector will serve to enhance Australia's income is simply untrue. The macro economy is far more complex, with unintended consequences like the high Australian exchange rate negatively impacting on non-mining sectors - particularly, as has been shown here, the rural sector. The mining boom has not been managed well. It has been allowed to expand with little consideration for the collateral damage it causes to other sectors of the economy. The rural sector is one part of the economy that has been badly affected. There needs to be a stronger focus on the boom's full effects rather than a reliance on the simple belief that unrestrained growth in the resource sector is in Australia's national interest."--Summary.
Download or read book Mining and Australia written by W. H. Richmond and published by St. Lucia ; New York : University of Queensland Press. This book was released on 1983 with total page 344 pages. Available in PDF, EPUB and Kindle. Book excerpt: Some references to Aboriginal land rights; papers by H. Saddler and J.B. Kelly and R. Gostand annotated separately.
Download or read book Dirty Money written by Matthew Benns and published by Random House Australia. This book was released on 2011 with total page 306 pages. Available in PDF, EPUB and Kindle. Book excerpt: "They put the boys into the Anvil mining truck. They came for my dad. I asked them 'where are you taking him?' and they didn't answer." The Australian mining company trucks had come roaring into the African village and disgorged over 100 heavily armed Government soldiers.
Download or read book Benefits of the Mining Boom written by and published by . This book was released on 2009 with total page 14 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The perception of most Australians is that the mining boom delivered unambiguous benefits for the Australian economy, including more jobs, exports, tax revenues and, for the majority of people, higher incomes. But was this the case? This paper looks more closely at the extent to which Australians have, in fact, benefitted from the boom, which it dates as beginning after the December quarter 2004 when commodity prices clearly began to show the impact of the increased demand from the rest of the world. Developments after 2004 are taken to reflect the effects of the mining boom."--Page 2.
Download or read book Trillion Dollar Baby written by Paul Cleary and published by Biteback Publishing. This book was released on 2016-09-02 with total page 173 pages. Available in PDF, EPUB and Kindle. Book excerpt: For most of its history, the remote and near-Arctic nation of Norway has eked out a marginal existence from fishing, forestry and shipping. That is, until Christmas Eve 1969, when oil was discovered off its southern coast. Rather than squandering the profits (as the UK did with its North Sea oil), when the revenue began flowing, Norway put in place the most robust and visionary framework for extracting maximum benefit from non-renewable resources found anywhere in the world. Less than twenty years after the country began investing in what is now called the Government Pension Fund, Norway has the largest sovereign wealth fund in the world, with assets of US$870 billion. What's more, the fund is on track to hit the US$1 trillion mark by 2020. Not only is every Norwegian now a (krone) millionaire and enjoying the highest standard of living in the world, they will be able to hand down this endowment to their children and grandchildren. Norway's savings strategy means that it has taken a non-renewable resource and turned it into a financial asset that can last long after the oil wealth has been completely exhausted. This is the story of how they did it.
