Australia has a strong hand. Are we playing it well?
Older, bigger, slower growing, more diverse. Living standards at risk of going backwards. These were the key takeaways from the latest Federal Intergenerational Report (IGR), writes Dr Liz Allen. The intergenerational bargain or contract, which implicitly suggests that the country handed to each subsequent generation is the same, if not better, than the socioeconomic conditions enjoyed previously, has been eroded. Increasing or maintaining living standards can no longer be guaranteed. Australia’s dumb luck has run out.
Finally, the value of nature is starting to be recognised in Australia, not only as something to protect, but as something businesses depend on and can increasingly invest in.
Read more Opinion article November 11, 2022For most of my time as economist, we have avoided or danced around discussion of industry policy in Australia, adopting a common narrative about not wanting or being able to ‘pick winners’ and reflecting on failed industry policies from days gone by.
Read more Opinion article October 30, 2018With house price falling and auction clearance rates as low as those seen in the GFC, there is some concern of an impending house price collapse. But according to Chris Richardson and Alex Hooper of Deloitte Access Economics, the drop in house prices against the backdrop of a strong economy is good news.
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