The daily commute is not worth as much as before.
Lower real living standards now represent the price of being in paid work.
‘Fingers crossed for a glorious 2022.’
There’s a long list of pre-announcements, but it remains to be seen how much turns out to be smoke and mirrors.
Australia’s living standards have remained remarkably stable compared to those of other countries. Losing access to China wouldn’t change that much.
The avocado latte is indeed a thing, but young Australians are spending less on luxuries than they used to, while older Australians are spending more.
A new Grattan Institute study finds that for the first time in a long time, young Australians are no better off than those who came before, and are likely to do worse.
Joseph Sohm / Shutterstock.com
Populism is on the rise in countries where inequality has been fairly stable over time, as well as countries where inequality has grown.
As uncertain as 2019-20 is, The Conversation’s team of 20 leading economists are in broad agreement that the outlook isn’t good. Scott Morrison and Treasurer Josh Frydenberg will also have to deal with the unexpected.
Wes Mountain/The Conversation
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.
Shorten is making wages one of the centrepieces of his election pitch.
But the ALP has not put a figure on the amount it believes would be appropriate.
Things will continue to look good enough for long enough to help the government fight the election. Beyond that, the Conversation Economic Panel is worried.
Wes Mountain/The Conversation
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.
The return of the historic problem of overcrowded dwellings points to a need in Australia for better understanding of the causes and regulatory responses.
Jacob Riis (1889)
The standards we use today were designed to help avoid the overcrowded housing that blighted cities in the past. But severe overcrowding is again on the rise, so what needs to be done?
Many Britons can’t afford more than one pair of shoes.
Stokkete / shutterstock.com
The latest data for UK living standards shows how they have fallen for all, except the wealthiest members of society.
Too much of a squeeze?
The SNP’s Nicola Sturgeon says austerity has held the economy back. Is she right?
Do you feel better off?
Household image via www.shutterstock.com
A defence that argues that ‘it depends on how you measure it’ does not wash.
If you want to know how well off you are, don’t ask a politician.
Dominic Lipinski/PA Wire
Labour says we’re worse off, but the Tories say living standards are on the rise - who’s right?
The policies Australia needs are being blocked in the Senate.
Much of the current political turmoil in Australia can be traced to Bill Clinton’s famous aphorism: “it’s the economy stupid” – in particular, the plunge in world commodity prices over the past few years…
Global environmental and social welfare per capita has not improved since the 1980s.
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…
Warnings of a drop in Australia’s real GDP per capita - a measure of living standards - still provide a stark contrast to Greece, where the real GDP per capita is likely to be 25% lower in 2013 than in 2008.
Last week, the Organisation for Economic Cooperation and Development (OECD) in a preliminary version of its 2012 Economic Outlook lowered its growth forecasts for Australia from 3.7% to 3.0% in 2013. This…