Articles on GDP

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Treasurer Joe Hockey’s failure to talk about basic measures of the economy in his second budget speech is telling. AAP/Mick Tsikas

Three missing letters say it all about Hockey’s budget pitch

A budget speech that fails to discuss basic measures of how the economy going is revealing in itself. Joe Hockey is the first treasurer since at least 1981 not to mention GDP.
The long view: Australia is bidding to boost energy productivity by 40% by 2030, but other countries are already doing more. Mattingbn/Wikimedia Commons

Australia’s energy productivity plan: great idea, but is it ambitious enough?

Australia's federal government wants to boost 'energy productivity' by 40% by 2030. A good idea, but the plan needs to cut energy use, not just deliver more economic bang for the energy buck.
Celebrations in China for its lunar year see a seasonal plunge in output - but it’s good news for Australia. AAP/EPA/Rolex Dela Pena

New Year celebrations give Chinese economy a hangover

In China, the value of output produced in the December quarter drops a staggering 53%. And it's down to New Year celebrations.
Reserve Bank Governor Glenn Stevens has helped Treasurer Joe Hockey make his case for boosting the economy, but will it be enough? Alan Porritt/AAP

How to multiply the rate cut impact and unshackle the economy

This week’s Reserve Bank interest rate move surprised virtually everyone, bringing the cash rate to 2.25%, yet another historic low. Despite Australian Treasurer Joe Hockey suggesting the rate cut means…
More racket in your pay packet. John Garghan

The simple win-win case for higher wages in Britain

Two things stand out about the economic recovery in Britain. One is the sluggish growth in real wages. The other is the sluggish growth in productivity. That the two phenomena have coincided is no accident…
‘China forward!’ … but at a slight slower rate. How Hwee Young/EPA

China growth stalls but don’t believe the doomsayers

China’s 7.4% growth in GDP is the weakest full-year growth rate in more than two decades, and the government’s official growth target last year is missed. But don’t expect an overreaction from the government…
Global environmental and social welfare per capita has not improved since the 1980s. www.shutterstock.com

How the world’s economic growth is actually un-economic

The focus of the recently concluded G20 summit was economic growth. The final communiqué begins: “Raising global growth to deliver better living standards and quality jobs for people across the world is…
Cutting a dash. A 1957 Chevrolet. Randy von Liski

Hard Evidence: are we facing another financial crisis?

Taken at face value, David Cameron’s warning this week about risks in the global economy sounds like it might be wonderfully prescient. Here’s the country’s economic chauffeur, carefully checking his instrument…
Having a ball: How politicians can make smiley happy people. seanbjack

How to shape economic policy when we move beyond GDP

The day is not far off when the economic problem will take the back seat where it belongs, and the arena of the heart and the head will be occupied or reoccupied, by our real problems – the problems of…
China needs to adopt a productivity reform agenda to avoid falling living standards. AAP

Look to China’s productivity gains, not headline growth figures

China’s economy grew by 7.3% during the third quarter of 2014, meeting market expectations. Polling by Reuters and the Wall Street Journal put the consensus forecast at 7.2-7.3%, the slowest pace in more…

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