Governments can’t undo the technological changes behind frozen wages and rising inequality. The best policy is to invest in education and training to give workers skills of value in the new economy.
News that Australian CEO pay has soared to a 17-year high at a time when ordinary workers’ wages are flatlining is ultimately bad news for economic growth and prosperity.
The positive energy that’s greeted the new South African President, Cyril Ramaphosa, will turn to protest if economic challenges are not addressed quickly.
While many market observers blame the growing threat of inflation for the stock market crash, the real culprit may be concerns that the economy is about to slow.
President Jacob Zuma shouldn’t be allowed to detract from the momentum that Cyril Ramaphosa, the new president of the ruling ANC, has started to build.
The billionaires, business leaders and other elites who gathered in Davos praised the president’s policies, yet research on the politics of economic growth suggests it’s too soon to celebrate.
Principal Research Fellow, Melbourne Institute of Applied Economic and Social Research, and Professor of Economics, Department of Economics, The University of Melbourne