The Australian government’s spending is Keynesian, but its approach to wage growth is not.
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In these troubled economic times, skills and technology are key to lifting the UK out of the productivity doldrums.
An examination of 80,000 enterprise bargaining agreements finds that on average 80% of each increase in compulsory super has been at the expense of wages.
The Conversation’s 2020 economic survey points to a dismal year, with no progress on many of the key measures that matter for Australians and an increase in the unemployment rate.
Politics with Michelle Grattan: Mathias Cormann and Jim Chalmers on the mid-year budget update
The Conversation, CC BY29,7 MB (download)
The figures indicate a worsening economy, but the government has sought to put a positive spin on the situation, saying the Australian economy is showing resilience.
The projected surplus has been revised down from A$7.1 billion at budget time to $5 billion for this financial year.
In his second “vision statement” Albanese says he wants to pursue his “productivity project”, and paints himself as a fiscal conservative well removed from Bill Shorten’s tax and spend approach.
From wage growth to renewable energy to religion, projections are being treated as predictions. We’d be better off insisting on genuine forecasts.
Liberal senator Andrew Bragg is one of the Coalition backbenchers who oppose the scheduled superannuation guarantee rise to 12%. They are looking to the retirement incomes inquiry to leverage change.
The progress we were making has been slowed or reversed, at exactly the wrong time.
We’ve 41,000 more long-term unemployed than would be expected given the unemployment rate. Something has changed.
The Conversation’s distinguished panel predicts unusually weak growth, dismal spending, no improvement in either unemployment or wage growth, and an increased chance of recession.
In an election about wages, it is bizarre that both sides are planning to raid them to lift compulsory super.
Boosting productivity isn’t enough, no matter how much you do it.
The Conversation has assembled a forecasting team of 19 academic economists from 12 universities across six states. Together, they assign a 25% probability to a recession within two years.
Wage growth has been at near depression levels for half a decade. It needs a push.
Australia’s unemployment rate may have to fall much more before we see any wages growth.
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.
The new RBA monetary statement is just like the old one.
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.
Principales colaboradores
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Professor of Economics, UNSW Sydney
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Visiting Fellow, Crawford School of Public Policy, Australian National University
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Professorial Fellow, University of Canberra
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Professor of Economics, The University of Melbourne
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Michael Keating es Amigo de The Conversation.
Visiting Fellow, College of Business & Economics, Australian National University
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Economist and Director, Centre for Future Work, Australia Institute; Honorary Professor of Political Economy, University of Sydney
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Program Director, Economic Policy, Grattan Institute
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Professor of Economics, Dean of UWA Business School, The University of Western Australia
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Economist at Centre of Policy Studies, Victoria University
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Dean of Business School, University of Southern Queensland
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Associate Professor, Finance, The University of Western Australia
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John Bray Professor of Law, University of Adelaide
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Associate Professor, Centre for Social Research and Methods, Director, Centre for Economic Policy Research (CEPR), Australian National University
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Professor of Management, Co-Director of the MIT Sloan Institute for Work and Employment Research, MIT Sloan School of Management
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Professor of Economics, The University of Western Australia
