The practice of multiculturalism in modern liberal democracies has been hampered by lack of a clear definition of 'racism' and 'anti-racism' as well as confusion about the role of multiculturalism in addressing disadvantage and combating racism. This lack of clarity has contributed to a marginalization of anti-racism within multiculturalism. As a prerequisite to recentring anti-racist praxis within multiculturalism, this paper disentangles the concepts of 'equity' versus 'equality', 'racism', 'anti-racism', 'multiculturalism' and 'disadvantage'. We then distinguish between policies and practices designed to mitigate disadvantage, and those designed to address racism. Taking Australia as a case study, historical and contemporary notions of multiculturalism are examined before considering their relationship to racism, anti-racism and disadvantage. It is only through a clear understanding and inclusion of anti-racist praxis that the potential of multiculturalism to address the challenges of racial diversity in modern liberal democracies can be realized.
On 23 September 1993 the International Olympic Committee announced that Sydney would host the 2000 Olympic Games. Given the keen competition between rival cities bidding for the Olympics it could be argued that the winning city anticipates economic benefits to accrue from hosting the games. To the extent that this is valid, some stock market reaction may be found to the Olympic announcement. Testing the hypothesis for Australia the following results are found. First no overall impact on the stock market is found. Second, only a limited number of industries portfolios show a significant positive impact to the Olympic games announcement. Specifically the industry portfolios are: building materials, developers and contracts, engineering and miscellaneous services. This is consistent with the economic boost for the Olympics being in infrastructure and development and thus in the general building and construction sector. Third the results clearly demonstrate that for the industries where there was a significant positive stock market reaction to the Olympic Games announcement, that significant positive stock market reaction is confined to stocks based in the state which will host the games, New South Wales.
scite is a Brooklyn-based organization that helps researchers better discover and understand research articles through Smart Citations–citations that display the context of the citation and describe whether the article provides supporting or contrasting evidence. scite is used by students and researchers from around the world and is funded in part by the National Science Foundation and the National Institute on Drug Abuse of the National Institutes of Health.