Articles on Economy

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How does Australia’s economy stack up when compared globally?

FactCheck: how strong is Australia’s economy?

“We have among the lowest of budget deficits and debt to GDP of any other major economies in the developed world… If it’s so bad, Mr Abbott, why have we been given by the three ratings agencies a AAA credit…
The last few years in Australian politics have seen the rise of a new definition of ‘lying’. AAP/Lukas Coch

Redefining the lie: politics and porkies

Lie (v.) (1) To make a politically unpopular statement; (2) [retrospectively applied] To make a statement which appears inconsistent with a more recent statement, indicating that its maker has changed…
Chris Bowen’s mini budget doesn’t tackle the structural problems facing the Australian budget. AAP/Lukas Coch

Bowen’s band-aid mini budget

Chris Bowen, the new Labor Treasurer, has announced the government’s plans for savings and new sources of revenue to meet a budget shortfall with the aim of bring about the elusive budget surplus in 2016/17…
Bearers of bad news: Treasurer Chris Bowen and Finance Minister Penny Wong deliver the government’s economic statement.

Economic statement: experts respond

A slowing economy and drop in government revenue has led to an increased budget deficit, new taxes and some cuts to existing programs. Delivering the Rudd government’s long awaited economic statement…
Chris Bowen and Kevin Rudd are facing the challenge of paying for their new policies while minimising political “nasties”. AAP/Lori Neilsen-Carr

Grattan on Friday: Boats done – the economy’s next on Rudd’s agenda

Now Kevin Rudd has ticked off emissions trading and unveiled his PNG solution on boat arrivals, he’s turning his full attention to trying to neutralise the “debt and deficit” issue. In other words, he’s…
Don’t bust out the champagne yet: not everyone will be able to afford it. Toni Blay

Recovery may not be enough to fix unemployment

With economic “green shoots” appearing, you might expect to see improvements in the labour market, with higher wages and lower unemployment. But don’t get the champagne out just yet: this crisis isn’t…
Competitiveness and productivity are top priorities in Kevin Rudd’s economic policy agenda. AAP

Rudd’s economic blueprint is a timely election pitch to business

Yesterday, Kevin Rudd set about outlining the broad terrain of economic policy to be pursued in this his second stint as Prime Minister. In his speech to the Press Club, the PM highlighted seven core drivers…
How should we measure the size of the Australian economy? AAP

Punching above our weight: sizing up Australia’s economy

Treasurer Wayne Swan recently noted that Australia now has the world’s twelfth largest economy. This suggests it has moved up three places during Labor’s period of office, and regained the three places…

Consumer confidence weak despite rate cuts

Wary consumers are unmoved by recent interest rate cuts and healthy economic figures, according to an index of consumer sentiment…
There are more jobs, but even more job seekers. Flickr/Victor1558

Unemployment up, but it’s a good news story

The rise in Australia’s jobless rate for May was “a good news story”, economists said, as the largest increase in full-time…
Managing Director of Google Australia and New Zealand Nick Leeder. AAP/Lukas Coch

Google boss: let internet flourish to boost productivity

The annual $27-billion boost to Australia’s productivity from internet innovation is at threat from policymakers who would…
In the UK, innovation and research has been at the forefront of the government’s economic policy agenda. bisgovuk

Innovation or stagnation? Lessons Australia could learn from the UK

After decades in the wilderness, industry policy is back centrally on the economic agenda in the UK. What is striking is how the policy is being driven by strong evidence on what works from years of accumulated…
Neither Anna Bligh nor Campbell Newman seem keen to talk about Queensland’s staggering debt. AAP

Standing in the shadow of debt in the sunshine state

In the run-up to the Queensland state election, politicians are making all sorts of pledges to win over constituents, but few are willing to tackle a potentially paralysing problem: the spectacular growth…
Tony Abbott has tough decisions to make on workplace reform before the next election. AAP

A return to WorkChoices: Why is business trying to hammer it home?

In one of the most significant moments of the 2010 federal election campaign, Opposition Leader Tony Abbott declared the Coalition’s unpopular WorkChoices policy “dead, buried, cremated.” In an interview…
Big sporting events often make a loss, but the locals still enjoy the party. AFP/Franck Fife

What will the Rugby World Cup be worth to New Zealand?

RUGBY WORLD CUP – In the latest of The Conversation’s series on the Rugby World Cup, Massey University’s Sam Richardson looks at the costs and benefits to the host country New Zealand. New Zealand has…
Iron ore is now Australia’s biggest export. AFP/CHRISTIAN SPROGOE RIO TINTO

The Boom: Iron ore and Australia

Australia’s economic future lies underneath our feet. The island continent is blessed with a variety of natural resources but none as plentiful or important as iron ore. Iron is a common element in soils…
Designer shopping in China can lead to an experience like no other. Flickr/Gadgetdan

Middle classes and the Party: changing faces of power in China

China’s phenomenal economic growth during the last three decades has significantly altered its pattern of social stratification. One of the most equal countries in the world has become one of the most…

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