Productivity is not a panacea

Growth in productivity is a vital dimension of economic success and higher living standards, but it doesn’t automatically deliver them.

People make the world go round

Australians are getting a stark reminder about how value is actually created in an economy, and how supply chains truly work.

Low paid workers get a small pay rise

Waiting for “market forces” to reverse recent record weakness in wage growth hasn’t worked. Nothing does more to create sustainable economic momentum than strong, sustained increases in the minimum wage. The Fair Work Commission is helping, but it could have been more ambitious.