Australia’s economic stagnation has become so widespread and persistent that it must be asked whether it is simply the product of bad luck or poor decisions, or is it the result of something more deliberate. Could the collapse in Australia’s productivity be the result of a calculated effort by parts of the political and bureaucratic elite, an elaborate exercise in quiet economic dismantling, carried out in plain sight?
At the April 2025 RBA Monetary Policy Board meeting, Governor Michele Bullock offered a reminder that should be obvious to anyone familiar with basic economics: ‘Productivity is how people get real wage rises.’...
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Dimitri Burshtein is a principal at Eminence Advisory. Peter Swan AO is professor of finance at the UNSW-Sydney Business School.
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