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Editor's note
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In the early days of Western mathematics, there was no such thing as a negative number. Even after the idea was imported from India and China, negative numbers were known as “absurd numbers” because it was thought that for practical purposes no-one would need a number less than zero.
That’s how many of us feel about negative interest rates today. Yet “quantitative easing”, adopted in Japan, the US, the UK and Europe, has as good as brought it about – pouring enough money into the economy to achieve the effect of an official interest rate below zero. It’ll happen here if the Reserve Bank needs to cut much further. This morning Stephen Kirchner explains how the process would work and argues there’s nothing to be frightened
of. He says the key takeaway from the US experience is to be bold.
Also, just a reminder we still need readers, like you, to give to our 2019 donations campaign. If you’ve already donated, thank you! If you haven’t, please give today.
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Peter Martin AM
Section Editor, Business and Economy
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Top story
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Road tested. Quantitative easing worked in the US, and can work even better here.
Shutterstock
Stephen Kirchner, University of Sydney
There's nothing unusual about quantitative easing. Our biggest mistake would be to be to wait.
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An activist scales a coal heap in Queensland to protest against Australia’s intensive fossil fuel use.
AAP Image/supplied
Matt McDonald, The University of Queensland
Yes, Australia's greenhouse emissions are a small part of the global total. But we're a rich, emissions-intensive country that could and should be setting a much better example to the world.
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Cities
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Sergio Brodsky, RMIT University
Companies have an opportunity to reframe brand communications from the promotion of conspicuous consumption to becoming a regenerative force in urban economies.
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Arts + Culture
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Ari Mattes, University of Notre Dame Australia
A flawless French film, a Macedonian parable and a documentary following alt-right strategist Steve Bannon are three of the stand out films from this year's festival.
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Louise Pryke, Macquarie University
Writing has only been a part of the human story for the last 5,000 years. In comparison, humans began to communicate using speech some 50,000 years ago.
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Environment + Energy
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Rodney Stewart, Griffith University; Hengky Salim, Griffith University; Oz Sahin, Griffith University
Australia urgently needs to prepare for a coming tsunami of solar panel and battery waste.
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Politics + Society
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Adrian Beaumont, University of Melbourne
According to election results, areas with low levels of tertiary education swung strongly to the Coalition in NSW and Queensland, helping propel Scott Morrison to victory.
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Michelle Grattan, University of Canberra
Albanese last week had Setka suspended from the party and will move for his expulsion when its national executive meets on July 5.
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Caitlin Byrne, Griffith University
Hong Kong’s protesters are galvanised by their cause, but whether they can sustain their momentum and bring about real change remains to be seen.
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David Belgrave, Massey University
New Zealand's coalition government has to balance strong martial and pacifist traditions. But ageing equipment and climate change will require taxpayers to fund expensive upgrades for the military.
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Science + Technology
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Corey J. A. Bradshaw, Flinders University; Laura S. Weyrich, University of Adelaide; Michael Bird, James Cook University; Sean Ulm, James Cook University
New research shows just how many first people were needed to create a viable population in what is now Australia.
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James Deverell, CSIRO
If the right changes are made today, Australia’s living standards could be up to 36% higher in 2060. This translates into a 90% increase in average wages (in adjusted, real terms) from today.
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Andrew Dowse, Edith Cowan University; Sascha-Dominik Dov Bachmann, Bournemouth University
Our increasing connectivity and reliance on information technology is a vulnerability being targeted by two key threats: cyber attacks and the subversion of our democratic institutions.
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Health + Medicine
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Michael Musker, South Australian Health & Medical Research Institute; Tiffany Gill, University of Adelaide
People with fibromyalgia live with chronic pain all over their body. And not all treatments work for everyone.
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Featured jobs
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University of Melbourne — Parkville, Missouri
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University of Western Australia — Mount Waverley, Victoria
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RMIT University — Melbourne, Victoria
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CSIRO — The Rocks, New South Wales
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Featured events
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Darwin Convention Centre, Darwin, Northern Territory, 0800, Australia — The Lowitja Institute
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Monash University Law Chambers, 555 Lonsdale Street , Melbourne, Victoria, 3000, Australia — Monash University
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The University of Sydney, Sydney, New South Wales, 2006, Australia — University of Sydney
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Monash University Law Chambers, 555 Lonsdale Street, Melbourne, Victoria, 3000, Australia — Monash University
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