Social commentator and historian Humphrey McQueen to visit SCU

Capitalism is being pulled back from the edge of catastrophe by the same force that drove it to the brink - the escalation of debt, according to Humphrey McQueen, Australian author, historian, and cultural commentator.

Mr McQueen will share his view of the world and the current economic crisis when he delivers a lecture titled ‘Catastrophe Postponed?’ at Southern Cross University this Friday, September 25.

Mr McQueen believes Australia is not yet out of the economic woods and is, in fact, set for a double-dip recession.

“The current crisis erupted through the over-consumption of housing by US home buyers and investors,” Mr McQueen said.

“What people need to understand is that debts shift between three piles: government debt, corporate debt and consumer debt. All three sectors are currently confronting what might be termed ‘peak debt’ – a time in financial history when all three sectors are almost catastrophically over-extended.

“Governments have plunged further into debt by taking toxic assets off corporate balance sheets and by the stimulus packages they have been handing out.

“In the corporate sector, resource companies in Australia alone must roll-over $200-billion during the next 12 months just to keep their projects going.

“Meanwhile, Japanese consumers are saving more than ever because their government cannot cover their welfare needs.

“In their efforts to ward off global depression, governments around the world are now left with far fewer funds to throw at the double-dip recession which I believe lies ahead.”

Humphrey McQueen is the author of 19 books that cover history, the media, politics and the visual arts. His two classic books of Australian history ‘A New Britannia’ and ‘Social Sketches of Australia’ were re-issued in 2004. His latest work is ‘Framework of Flesh: Builders’ labourers battle for health and safety’– the first instalment of his research into the history of builders’ labourers and their unions.

For about the last 40 years he has been a self-employed writer, historian and intellectual – “working almost entirely outside both the advantages, fashions and restraints of the academic environment”, he said.

His SCU lecture is being hosted by the School of Arts and Social Sciences and the Centre for Peace and Social Justice.

It will be held in lecture theatre B-231 on Friday, September 25, from 12pm to 1.30pm. It is free and open to the public.

Following his lecture, Mr McQueen will launch his latest book, ‘Framework of Flesh: Builders’ labourers battle for health and safety’ at The Co-op Bookshop in Goodman Plaza, at 2.30pm.

Photo: Humphrey McQueen, Australian author, historian, and cultural commentator who will speak at Southern Cross University on Friday.