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This paper explores a number of the ways in which globalization can accentuate the uncertainties and risks borne by Australians with retirement savings in superannuation funds or who are receiving superannuation benefits. It begins by addressing the impact of globalization on job prospects as a result of off-shoring. It then turns its attention to the impact of globalization on domestic inflation. The third area addressed by this paper is the vulnerability of superannuation funds to the ‘regular’ financial crises of the world financial system. Here, particular attention is given to the way international hedge funds operate in bear markets. Finally, the paper describes the increasing prominence of sovereign wealth funds and explores the implications of their growing role for future superannuation fund earnings. A major conclusion of the paper is that the certainty of the financial uncertainties and risks associated with the occupational superannuation pillar means that Australia's retirement income system needs to be modified in order to limit the exposure of workers' retirement savings and benefits in payment to some of the consequences of a globalized financial system. [ABSTRACT FROM AUTHOR]

As Leader of the Opposition in 1987, the current Prime Minister of Australia John Howard, stated unequivocally that he would dismantle Medicare at his first opportunity. By April 2000, the Health Minister in a Howard-led government proudly proclaimed to the Australian Parliament the Coalition was 'the best friend Medicare ever had'. Such a shift in ideology and policy position appears remarkable, overturning more than 60 years of conservative opposition to a universal, publicly funded, health care system. This paper traces the shift from the lead-up to the 1996 election until 2000, interrogating official policy texts to map how the Coalition reconfigured its own policy narrative about the Australian health care system. This paper argues that in order to understand contemporary reforms to the health care system, we must consider the way in which those reforms provide solutions to discursively, rather than objectively constructed, policy problems. [ABSTRACT FROM AUTHOR]

There is growing recognition that investment by governments on children in their early years is an important part of social policy. However there is currently little information either about how much governments invest on children of different ages, or about what the optimum investment in the early years would look like. Using currently available Australian datasets, this article explores two approaches to estimate the adequacy of investment in early childhood; comparing government expenditure between countries, and analysing one country (in this case Australia) in terms of expenditure over time on children of different ages. We find that, overall, Australia spends more than the average of OECD countries on the early years, but that a much higher proportion of this expenditure is spent on cash transfers to parents rather than on early care and education. Furthermore, spending on the early years has grown proportionately to spending on older children over the past several years. The paper ends with a number of suggestions for further research which will refine the analysis of investment in the early years. [ABSTRACT FROM AUTHOR]