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Articles on GDP

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The UN’s Sustainable Development Goals Summit drew an unprecedented show of support from the General Assembly of nations. Reuters/Mike Segar

Beyond GDP – how Australia could help redefine well-being

The widely accepted concept of economic prosperity - GDP - increasingly fails to measure human well-being.
University of Cape Town scientists work in the Drug Discovery and Development Centre. More needs to be done to keep Africa’s scientists on home ground. Epa/Nic Bothma

Closing the research gap between Africa and the rest of the world

If the continent is to grasp the science and technology revolution, then governments should take the lead in both policy formulation and implementation.
Victoria Island waterfront in Lagos. President Buhari needs to emulate China and South Korea by urgently investing in science and technology to take Nigeria’s economy to the next level. Reuters/Joe Penney

Science and technology hold the key to Nigeria reaching its full potential

Investing in science, technology and innovation can help give Nigeria a positive lift in many sectors of the economy.
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…

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