Richard Aedy
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Curious broadcaster 📻🎙 Presents The Money & makes series for @RadioNational. Born at 320 ppm. RT = interesting. My opinions, not the ABC's.
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Articles by Richard Aedy
Laura Tingle joins us to talk tax again - this time company tax, how and why is financial risk being passed around and the story behind the torture of Sekai Holland and the organisation that helped her back on her feet, STARTTS.
Program: ABC loses in AFP raid case, US bases in Australia and ten convict rogues
Denis Muller considers the ABC's loss in the AFP raid case and what it means for journalism. Felicity Ruby assesses the risk of hosting US bases here in Australia. Peter Grose and the rollicking tale of ten rogues and how a group of convicts escape from Tasmania and head for Chile.
Why the NDIS is not enough
People living with disability make an enormous contribution to Australia's economy. But because the NDIS was not designed to do everything, we need to increase philanthropic support, and assist those who want to start their own businesses or enjoy easeful, diverse travel experiences.
Dangerous Mondays and Black Fridays
Not many of us care for Mondays, and statistically it really is the most dangerous day of the week, as opposed to Black Friday where the biggest danger is watching your money disappear. Milad Hagani from the University of NSW Also, why are we not spending more on upskilling and training our workforce?
Is German economic power under threat? - ABC listen
Germany's economic dominance as Europe's biggest economy is in danger. A new book argues that weaknesses have been brewing for decades, leaving Germany over-reliant on Russian gas, too focused on old industries and unable to adapt to the digital realities of the 21st century. Guest: Wolfgang Munchau, former Financial Times associate editor, and author of Kaput: The End of the German Miracle, outlines the myriad economic problems and a possible way out.
Trumpenomics 2.0 - ABC listen
Donald Trump's economic agenda is clear: less taxation and regulation; more tariffs. But some of his programs will require a lot of money, which means America will need to borrow more. Those borrowings and the impact of tariffs will affect small, open trading economies, like Australia.
Should dental care be part of Medicare? - ABC listen
Australians fork out much more on dental care than any other kind of health care. Which is why increasingly, people are delaying or skipping dental care, and 27% of kids aged between 5 and 10 have untreated decayed or missing teeth. So should, or could dental care be brought under the Medicare umbrella, and what might this cost?
As America goes to the polls, the economy is doing well, but people aren't feeling it
Program: As America goes to the polls, the economy is doing well, but people aren't feeling it 3h ago3 hours agoThu 31 Oct 2024 at 7:00am Space to play or pause, M to mute, left and right arrows to seek, up and down arrows for volume.
The true cost of AI
There is a seismic change heading our way driving electricity and water usage, and it has to do with the uptake of generative AI, including ChatGPT. Giant tech companies are investing in nuclear power for their AI-fuelled race, however data centres also need clean, drinking-quality water. Guests: Ben Geman, energy reporter at Axios.com, and the author of the daily Axios Generate newsletter, covering the world of energy business and politics.
Can we afford weight-loss drugs for all? - ABC listen
Obesity and associated health problems cause a significant burden on health systems, but should weight-loss drugs be offered under our PBS just for weight loss? In Britain, there is to be a trial of the weight loss drug Mounjaro, that will also seek to measure the economic impact of those benefits. Britain's Health Minister argues that weight loss drugs will be '"life-changing, help them get back to work and ease the demands on our NHS".
The global weapons industry and what it's worth
The continuing wars in Ukraine and the Middle East have horrified the world with the loss of life and devastation, raising the question, what does war and weaponry cost? In 2022, world military expenditure surpassed $US2.44 trillion for the first time ever. Latest available figures show the United States spends the most on its military at $US 916 billion, and it's also the largest global exporter of weapons.
How religions work as businesses
In a new economic analysis of religions, Paul Seabright argues that religions are not the antithesis of economics, instead he likens them to competing businesses, attracting people by providing services such as community and a greater sense of meaning in life. The Divine Economy, published by Princeton University Press Guest: Paul Seabright, teaches economics at the Toulouse School of Economics. Prior to that he was a Fellow of All Souls College at the University of Oxford.
Should card fees on everyday transactions be reduced? - ABC listen
Australian's love affair with paying by card - instead of cash - has now surpassed 90% of transactions. And each time we tap our card, the merchant incurs a cost that's passed onto you, the customer, to the tune of billions of dollars a year. The Reserve Bank of Australia has warned banks, credit card companies and payment terminal companies that regulation is on the way to force them to cut processing costs by using what's called 'least cost routing'.
Should ASIC be split to ensure better corporate regulation?
The recent Senate Economics Reference Committee chaired by Andrew Bragg, delivered an extremely critical report on the performance of the corporate regulator, ASIC. It was recommended that the Australian Securities and Investments Commission be split into two bodies to address a perceived lack of competence.
Is the Reserve Bank doing a good enough job? - ABC listen
Treasurer Jim Chalmers recently said that high interest rates had 'smashed the economy'. And the Albanese Government has been set on driving through changes recommended in last year's independent review of the RBA - the biggest overhaul of the Reserve Bank in decades. But after the LNP withdrew its support for reform, Labour is now looking to the Greens. So how will we know whether the RBA is doing a good job or not?
Will the escalating cost of media sports rights change what we can watch?
Free to air TV was once the only place to watch your favourite football match, but that could change as streaming services and tech companies now compete for sports media rights. Sports bodies sell their rights to broadcasters, who then sell advertising slots or subscriptions, so the clubs and athletes get paid.
what are the long term implications of less cash? - ABC listen
We're almost a quarter of the way into the 21st Century and already it's clear money has changed. It's increasingly mobile. It's (relatively) cheap and more and more digital. Economist Richard Holden is charting the changes. Guest: Richard Holden, Professor of Economics at the University of NSW Business School Author of "Money in the 21st Century; Cheap, Mobile, and Digital' published by University of California Press.
The global race to the moon is on again
During Science Week we focus on the business of space and the new global race to put people on the Moon. The space economy is predicted to be worth $US1.8 trillion in ten years time and one of the first steps is the construction of a Lunar Gateway, serving as a pathway to Mars. So what are the likely benefits for us on earth from this re-energised space race?
The Olympics are amazing, but what do they cost?
The Paris Olympics were designed to be 'infrastructure light' to avoid outlandish construction costs, yet the overspend is estimated at $US1 billion. Since the 2016 Rio Olympics' budget overrun by 352 per cent, many cities withdrew their bids in the face of strong public opposition. So should Olympic Games be held in one permanent location every four years? And how are plans for Brisbane's 2032 Olympic Games progressing? Andrew Zimbalist, Professor of Economics at Smith College, Massachusetts.
Do CEOs deserve their huge salaries - ABC listen
How have Corporate Executive salaries and bonuses reached such stratospheric levels? What do chief executives have to do to get them and how does getting them influence how they run the business? Researchers have found that CEO bonuses can lead to some sneaky corporate behaviour. And the incentives often don’t align the interests of the boss and the shareholders.
Our love affair with shopping malls
Shopping malls are very big business globally, and Australia's no different, with the twelve largest centres earning over $1 billion annually. Initially designed in the 1960s to accommodate hundreds of cars, targeting the suburban housewife, today they come in all sizes - from the big guns, to mini guns - and are much more responsive to diverse cultural needs, changing consumer trends, and the latest in entertainment.
Indigenous business and housing ownership is on the up
Indigenous business and home ownership is on an upward trajectory. The role played by Indigenous owned and operated businesses in Australia's economy has expanded, contributing over $16 billion to the economy, and over $4.2 billion in wages. And Indigenous Business Australia has helped tens of thousands purchase their own home. No mean feat during this cost of living crisis.
How do people plan to use extra money from Stage III tax cuts?
This week, everyone who's got a job will have more money in their pocket, thanks to the introduction of the Stage III tax cuts. So how do people plan to use the extra money? And is it good policy? In addition, hundreds of tariffs on imports will also be cut, a decision that economists love and applaud.
Immigration: Costs and benefits
If we reduce the number of immigrants will that reduce pressure on infrastructure and the cost of housing? The short answer is yes, but it will cost us in other ways. So how should we choose our skilled immigrants and help them make the biggest contribution? Guests Diana Mousina:Deputy Chief Economist, AMP. Brendan Coates: Economic Policy Program Director, Grattan institute.
High-tech laundering - how crims use technology to make dirty money clean - ABC listen
Making bucket loads of money from crime is one thing but what do you then do with it all? Investigative journalist Geoff White explains how big time crims are making their dirty money clean. Guest: Geoff White, author of Rinsed: From Cartels to Crypto, How the Tech Industry Washes Money for the World’s Deadliest Crooks.
Low or No Alcohol: The Economics of Moderation
People are drinking less alcohol, especially Millennials and Gen Z. And the drinks industry has noticed. Low-alc and no-alc drinks make up a tiny fraction of the market. But it’s growing at 7 percent a year. And, as more of us either moderate our drinking or stop altogether, the future for these drinks look bright. But the way they’re advertised, marketed and packaged makes them look very like alcoholic drinks and there’s some concern they may act as a gateway to alcohol.
The TikTok Economy - ABC listen
TikTok, the phone app that sends a stream of viral videos to every user, is in trouble in the United States. The company must either change its Chinese ownership, or leave the American market. In response, TikTok is underlining its economic contribution, in Australia and elsewhere. So how much difference does it make?
Diamond Disruption: Lab Grown vs Mined, which gem would you choose?
As they say a “diamond is forever”. But does it matter if that diamond is grown in a lab or mined from the Earth? Especially if they both are chemically, physically, and optically identical. And given that cost of living pressures are colliding with consumers’ desire to not compromise on size or quality, more and more Australians can see the logic behind lab grown gems. In America, lab-grown may have peaked.
Marking the Treasurer’s work: Three leading economists discuss the federal budget.
This year’s Budget tries to do several things at once. In the short term it offers cost-of-living relief but tries not to contribute to inflation. In the longer term it departs from decades of economic orthodoxy by picking industries to invest in. Specifically, green hydrogen and critical minerals. But will it work? And how responsible is it? Three of the country’s leading economists offer their views.
The Sleepless Economy: The High Costs of Losing Shut Eye
Australians have a sleeping problem. The most conservative estimates show one in 10 have a sleep disorder, which is having an impact on their safety, wellbeing and productivity. This ends up costing almost a $1 billion a week. And that’s not all. The total cost of inadequate sleep is thought to be as high as $75 billion a year. We’re not alone either. International research shows places like the US, the UK and Europe are facing similar problems, with similar costs.
Global Growth: The Benefits vs The Consequences
You don’t need to be paying too much attention to be aware that economic growth matters. Growth is central to economics and it's the growth of the past 60 years that has delivered. We’ve seen a rise in prosperity, and developments in health and education. But the pursuit of growth has also had consequences. In his new book Growth: A Reckoning, Daniel Susskind explores the tension between the positives and negatives created by the pursuit of growth.
All By Myself: The Economics of Loneliness.
Research shows loneliness costs the Australian economy $2.7 billion per year or $1565 per person. The World Health Organisation has also declared loneliness to be a global health concern. And it’s estimated loneliness has an equivalent health impact on the body to smoking 15 cigarettes a day. Before the pandemic older Australians were found to be the loneliest in the nation. But now the data now shows this has shifted and younger Australians are the feeling the effects of being alone and isolated.
Hackenomics - ABC listen
The growth of cyber-crime is considered to be the biggest challenge facing Australian businesses. Collectively cyber-attacks cost the economy $42 billion dollars last year, with ransomware the most disruptive type of hack, costing $3 billion. So what is the government doing? And what can organisations do, both to lower their risk of attack, and if the hackers succeed in accessing their systems?
Puffed out: The Costs of Vaping
New research suggests that the increase in vaping across Australia will cost the health system an extra $180 million each year and that’s a conservative figure. Vaping has been framed as a way to stop smoking tobacco, however it can also be a gateway to taking it up. It’s estimated that 13 per cent of people who vape transition to cigarettes. The Australian government has called vapes a public health menace and introduced restrictive anti-vaping policies.
The Economics of Daylight Saving: It’s All In The Timing
Twice a year most Australians are made to deliberately mess with our body clocks. When we go into daylight saving and when we come out. Many of us love the longer summer evenings. What we don’t love is the sleep adjustment that makes us feel tired, fuzzy and out of sorts. There are plenty of arguments about whether daylight saving is a good or bad thing. So in this episode we look at the costs and benefits and whether it’s time to rethink the concept.
Choconomics: The Rising Cost Of Chocolate - ABC listen
As we head into Easter you may have noticed the price of your seasonal sweet treats like chocolate bunnies and eggs are a bit higher than last year. The main reason is the price of cocoa beans or actually, the price of cocoa futures. They’ve skyrocketed by more than 100% in 2024 alone and tripled over the past year. But why is that and will we be prepared to keep paying higher prices for the sweet stuff?
Sharing the Benefits of Innovation
Innovation sparks thoughts of tech giants, inventions and Silicon Valley. While those companies in Cupertino may be good at generating extreme wealth, they’re not so good at spreading it across the communities they benefit from. Other places do better, particularly Switzerland, Sweden and Austria. What can we learn from them? Neil Lee, Author, Innovation For The Masses: How To Share The Benefits Of The High-Tech Economy
The Cost of Wage Theft
Wage theft costs Australia’s workforce at least a billion dollars a year. Some industries, like retail, hospitality and horticulture are renowned for it. But the practice is widespread across many sectors. There’s been wage theft cases against franchises like 7 Eleven and Bakers Delight, institutions like universities and the ABC, and corporate giants like Coles and the Commonwealth Bank. So which workers are most vulnerable and what can be done to protect them?
The Economic Cost of Illiteracy
Illiteracy in our classrooms is a problem. It's a problem that doesn't go away as children become adults. It's costing the Australian economy $40 billion a year and that's a conservative estimate. The good news is, there are ways to improve reading proficiency in our schools. If just one billion is spent in one year, the economic benefit will be $12 billion. What is needed is a long term commitment by governments.
Pay attention to subscriptions, drip pricing and the cost of online shopping returns
During this month of January whilst most people are on holidays, money is being spent, but you need to pay attention. Subscriptions to a range of services have grown four-fold in the last decade. Many are renewed automatically, even for services we no longer use. Neale Mahoney, Professor of Economics at Stanford University and co-author of: Selling Subscriptions delves into these costs.
The Money - ABC listen
PNG and the IMF and, the future of cities
The economic crises that shaped globalisation. Beyond the now: The case for long term thinking.
Why not all economic crashes are the same. From the potato famine in the 1840’s to crashes caused by rampart speculation in railways to the bursting of the dotcom bubble and the GFC. Economic history is punctuated by a series of dramatic collapses. So what does a close look at seven big crashes tell us?
Inheritocracy: The lasting generational advantages of home ownership
Inheritocracy: The lasting generational advantages of home ownership In the country’s most expensive housing markets, family help and the ‘bank of mum and dad’ is increasingly necessary for younger people to buy homes. But could this entrench and perpetuate lasting advantage for those already part of the property owning class?
Competition in Australia. When a few financial institutions control everything.
Competition and concentration in Australia Most sectors of the Australian economy aren’t competitive enough, with a few firms dominating. It isn’t good for the economy or the consumer. Dan Andrews: Research Director and Head of Policy Engagement, e61 The state of competition in Australia Could the asset managers eat the economy? In the US laws were passed to prevent banks and insurance companies from becoming too big and powerful.
Getting to sustained full employment. Financial contagion and the GFC. Golf participation climbs when people are ‘working’ from home.
Getting to sustained full employment The Government’s white paper on employment lays out an ambitious goal of giving everyone who wants one, a job, without searching for too long. So how does it propose to do this? Jeff Borland: Professor of Economics, University of Melbourne Remembering the Global Financial Crisis September 2008 and it’s the early days of what would become known as the GFC.
Menopause is costing the economy a fortune. El Nino weather and its impact. Central Bank Digital Currencies explained. - ABC listen
Menopause: much, much more than hot flushes 27 billion dollars - it’s a lot of money and that’s a conservative estimate of the costs to employers and women. Why is it a problem in the workplace, and what we can do about it. Hint: talking about it would be a start.
We shouldn’t be as alarmed about an economic slowdown in China: Here’s why. - ABC listen
China’s slowing economy and its impact on Australia “If China sneezes” is it a cold, pneumonia, or a mild case of the sniffles for the Australian economy? Professor James Laurenceson: Director of the Australia-China Relations Institute (ACRI) , University of Technology, Sydney. Rise and rise of the new consumer class It’s one of the great success stories of modern times. Half the world’s population have escaped poverty to join the consumer class.
Sucked in by drip pricing.
A soft landing? What the latest figures tell us about the health and state of the Australian economy. Cherelle Murphy: Chief Economist, EY Oceania How we get sucked in by drip pricing You’re lured in by a low headline price but at each step of the purchasing journey unavoidable extra costs are added and the price goes up and up. Why does drip pricing work so well for sellers and what are the psychological mechanisms at play?
What’s holding up the green energy transition?
Our carbon emissions must be 43% below 2005 levels by 2030. To get there, renewables are meant to provide 82% of our energy. But we probably won’t make it. So what’s the hold up ? Emma Muir. Chair of the Moorabool and Central Highlands Power Alliance.
The 2023 Intergenerational report: Getting ready for 2063
Australia in forty years time What does the 2023 Intergenerational Report say about how we should prepare for 2063 and how have previous reports helped to inform and shape public policy.
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