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.
With 2019 coming to a close, CEDA Chief Economist, Jarrod Ball, and Senior Economist Meg Cuddihy discussed the state of the Australian economy and the issues it will face in 2020. They say that while infrastructure investment and export demand has kept the economy afloat, consumer spending and business investment will need to increase if it is to reach its earlier heights.
Read more Opinion article June 25, 2018Dr Nicholas Gruen examines how we can make better economic forecasts.
Read more Opinion article May 4, 2015