15 December 2025

Spending more on defence will not bring greater security in a sharply divided world, according to a report released today by the Australian Peace and Security Forum with the title “Money, Money, Money: It’s a rich man’s world”. Rather than deterring conflict, our proposed acquisition of eight nuclear-powered submarines at an estimated $368 billion escalates the likelihood of conflict between the United States and China in which we will become involved.

“We live in a world of profound inequality’, states the report. It quotes a study on inequality presented to the recent G20 meeting in South Africa which says, “between 2000 and 2024 the richest 1% captured 41% of all new wealth, while the bottom half of humanity captured 1%.”

Technology and AI have exacerbated the divide: growing the wealth of a tiny minority while adding to the impoverishment of millions who do not have access to the internet. Seven IT companies all headed by men have accelerated the concentration of wealth and OXFAM predicts 5 trillionaires within a decade.

‘Money, Money, Money’ is the fourth in a series by APSF taking a comprehensive look at peace and security for all. In this issue, six authors from a variety of perspectives address critical issues that impact on economic security and affordability for Australians and people everywhere.

Associate Professor Niusha Shafiabady of the Australian Catholic University notes that “forecasts suggest AI could add US$15.7 trillion to the global economy by 2030, making it one of the most powerful drivers of growth in modern history”. She emphasised “the question is not whether AI will change the world, but whether that change will reinforce dependency rather than cooperation”.

Professor Quentin Grafton of the ANU points out that “by failing to adequately support its disadvantaged, Australia risks ‘sleepwalking’ into heightened political risks of populist leaders capturing political power with the associated social and economic turmoil. He makes the case for one key action – “the effective implementation of Universal Basic Services.”

‘Money, Money, Money’ is available for free. Please download here.

A special webinar on the theme “What is needed for economic security in a sharply divided world?” will be held on Tuesday 16 December at 6-7pm (AEDT). Guest speakers will include Professor Shafiabady and Professor Grafton. To enrol click HERE.

Contacts: Quentin Grafton 0410 680 584 & quentin.grafton@anu.edu.au

Niusha Shafiabady  0437 623 419.