Michael Keating. This article discusses the extra stimulus which should be incorporated in the October Budget, and what form that stimulus should take. In the lead-up to the forthcoming October Budget, the government has encouraged speculation that its future support for economic recovery will mainly rely on: The already-announced extension of JobKeeper and JobSeeker assistance. […]
Australia’s youth has been hit hardest by the unemployment crisis, and is bankrolling the financial advantages enjoyed by older generations. Yet, they are told the pandemic is a good opportunity to grow and develop coping mechanisms. Michael Tanner reports on a new form of victim blaming. The mental health of young people – already teetering […]
Reaganomics and Thatcherism were characterised by huge transfers of income and wealth from the poor to the rich, writes Roger Beale. Even such august institutions as the Productivity Commission argue that there’s little to be gained by going down the road of labour market flexibility. Treasurer Josh Frydenberg has suggested we look to the Reagan […]
An alliance of Australia’s leading industry groups has called on governments to commit to reaching zero net emissions by 2050, warning that without a “coherent national response to climate change the future prosperity of the nation will be at risk”. The Australian Climate Roundtable, whose members represent the main business lobby groups including the BCA […]
The Covid-19 crisis has deepened sharply in Australia, with Victoria going into Stage 4 lockdown, and other states on edge. The situation in many other countries is far worse than this, and the prospects immediately ahead fill one with dread. Last month, our editorial noted that various of our articles were ‘urging policy makers to […]
Covid-19 presents us with an opportunity: increased equality in society, resilient to the challenges ahead, or a society ruled by power imbalances, struggling to cope with natural and man-made disasters. Pre-Covid Thirty years ago, it was demonstrated that, in an environment in which access to health care was equitable, health outcomes were determined by position […]
We live in the most interesting and uncertain times ever. This can be stated with certainty, because the rate of change today is an order of magnitude faster even than a hundred years ago. So let’s try a new economic policy mindset. The first technological steps—sharp edges, fire, the wheel—took tens of thousands of years. […]
Michael Mazengarb. A push towards zero emissions will create more than one million jobs in Australia, BZE says.
Beyond Zero Emissions has launched a new vision for an Australian economy embracing investments in zero emissions technologies which could create more than one million new jobs in Australia over the next five years. The plan, which proposes up to 90 gigawatts of new wind and solar projects be constructed, along with investments in improving […]
Few of us could have imagined that a virus invisible to the human eye could bring the world economy to its knees. Wealthy countries like Australia and New Zealand have cushioned the blow with modest support for businesses, workers, and the unemployed. But many poor countries are struggling even to keep people alive or working. […]
Brendan Coates. Money for social housing, not home buyers’ grants, is the key to construction stimulus.
Brendan Coates, Grattan Institute. Photo Dan Himbrechts/AAP. There’s no doubt Australia’s construction industry is facing tough times. COVID-19 has caused migration to slow to a trickle. Some 2.6 million Australians have in the past two months either lost their jobs, or had their hours cut. Many economists expect property prices to fall. It all adds […]
Photo Depression revisited. futureatlas.com/blog. flickr cc. 4 June 2020. Australia’s present budget deficit is unprecedented, but it represents an appropriate response to the recession. The resulting debt does not present a future problem, and the deficit should only be unwound as private demand recovers. Clearly Australia is in a deep recession. But with interest rates already […]