HackerNews Summary (2023-06-01 09PM)

Source: Profit-Price Spiral: Excess Profits Fuelling Inflation & Interest Rates, not Wages

Summary
Excess corporate profits, not wages, are the main driver of inflation in Australia. Inflation would have stayed within the RBA target band if corporate profits had not increased, and the focus of the RBA on wage restraint is misplaced.

Fact

💰 Excess corporate profits, not wages, are the main driver of inflation in Australia.

📉 Real wages in Australia fell 4.5% in 2022, the largest fall on record.

🎯 Inflation would have stayed within the RBA target band if corporate profits had not increased.

👀 The RBAs focus on wage restraint is misplaced.

📈 Excess corporate profits account for 69% of additional inflation beyond the RBA’s target.

Source: Gorongosa National Park’s Astonishing Comeback

Summary
Gorongosa National Park in Mozambique, which was devastated by the country’s civil war, has made a spectacular comeback due to restoration efforts led by the non-profit organisation Gorongosa Restoration Project. Dr. Marc Stalmans, the Director of Science, contributed to the project’s success by helping to restore the natural ecosystem by reintroducing animal species to the park.

Fact

🌱 The animals in Gorongosa National Park were depleted by 90% to 99%, depending on the species, during the country’s civil war. For example, there were around 14,000 buffalo in the system before the war, but after the war there were less than 100 left.

🦁 The reintroduction of animal species has helped to restore interactions between plants and animals as well as the insects and microorganisms that maintain the health of the ecosystem.

🌍 Located in the extreme southern part of the Great African Rift, Gorongosa’s alluvial soils, good rainfall, and frequent flooding support a tremendous productivity in terms of vegetation.

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