Millionaire Tim Gurner’s refreshing honesty

Business Community and the Sustainable Development Goals

Every now and then a window opens into the soul of the business community, and we catch a glimpse of the values and goals that shape the actions of the captains of industry.

A striking example occurred this week at a business outlook conference sponsored by the Australian Financial Review.

In a panel discussion, Tim Gurner – founder and CEO of property developer Gurner Group, and personally worth almost $1 billion – discussed the state of the labour market.

The Impact on Sustainable Development Goal 8: Decent Work and Economic Growth

1. Historically low unemployment undermines work ethic and discipline.
2. Unemployment needs to rise by 40 to 50 percent to bring about change.
3. Emphasis on reducing arrogance in the employment market.
4. Governments worldwide are trying to increase unemployment.

Kalecki’s Prediction and Sustainable Development Goal 1: No Poverty

Kalecki was a contemporary of John Maynard Keynes. He simultaneously developed theories of aggregate demand management that could prevent depressions and achieve full employment.

• Business interests prefer to maintain unemployment to keep workers in line.
• Desirable cushion of unemployment to restrain labor costs.
• Government urged to focus on controlling inflation rather than reducing unemployment.

The Non-Accelerating Inflation Rate of Unemployment (NAIRU) and Sustainable Development Goal 8: Decent Work and Economic Growth

NAIRU thinking underpins central banks’ obsession with alleged overheated labor markets as the source of post-COVID inflation.

• Central banks focus on suppressing aggregate demand to reduce inflation.
• Unemployment rate needs to rise to allow inflation to return to target.
• Higher unemployment seen as a means to restore discipline and control workers.

Conclusion

Gurner’s remarks shed light on the choices being made in current monetary policy. Workers who expect too much are seen as a barrier to wealth accumulation. Higher unemployment is considered a means to restore discipline, and central bankers seem to agree.

Dr Jim Stanford is economist and director of the Centre for Future Work

SDGs, Targets, and Indicators in the Article

1. Which SDGs are addressed or connected to the issues highlighted in the article?

• SDG 8: Decent Work and Economic Growth
• SDG 10: Reduced Inequalities

The issues highlighted in the article relate to the labor market, unemployment, and the power dynamics between employers and workers. These issues are connected to SDG 8, which aims to promote sustained, inclusive, and sustainable economic growth, full and productive employment, and decent work for all. Additionally, the article touches on the concept of maintaining a desirable cushion of unemployment to discipline labor, which relates to SDG 10, which aims to reduce inequalities within and among countries.

2. What specific targets under those SDGs can be identified based on the article’s content?

• SDG 8.5: By 2030, achieve full and productive employment and decent work for all women and men, including for young people and persons with disabilities, and equal pay for work of equal value.
• SDG 10.4: Adopt policies, especially fiscal, wage, and social protection policies, and progressively achieve greater equality.

Based on the article’s content, the specific targets that can be identified are SDG 8.5 and SDG 10.4. SDG 8.5 focuses on achieving full and productive employment and decent work for all individuals, regardless of gender, age, or disability. SDG 10.4 emphasizes the adoption of policies that promote greater equality, including fiscal, wage, and social protection policies.

3. Are there any indicators mentioned or implied in the article that can be used to measure progress towards the identified targets?

• Unemployment rate
• Inflation rate
• Minimum wages
• Social welfare policies

The article mentions or implies several indicators that can be used to measure progress towards the identified targets. These indicators include the unemployment rate, which reflects the level of employment and job opportunities in an economy. The inflation rate is also mentioned, as it is often considered in relation to unemployment and monetary policy. Additionally, the article references minimum wages and social welfare policies, which can impact employment levels and equality.

Table: SDGs, Targets, and Indicators

Behold! This splendid article springs forth from the wellspring of knowledge, shaped by a wondrous proprietary AI technology that delved into a vast ocean of data, illuminating the path towards the Sustainable Development Goals. Remember that all rights are reserved by SDG Investors LLC, empowering us to champion progress together.

Source: thenewdaily.com.au

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