The COVID-19 pandemic is producing an unprecedented shutdown of large parts of the national and global economies. Our Director Dr. Jim Stanford provided an overview of the coming recession, how it differs from previous downturns, and the best ways for government to respond to protect Australians as much as possible from the economic fall-out.
Jim titled his presentation “Off the Cliff”, highlighting that the immediate shutdown of so much of Australia’s work and production is producing an economic contraction unlike anything experienced in history.
Watch a video recording of the webinar:
And/or download Jim’s slides below.
This webinar was part of the Australia Institute’s weekly pandemic webinar series.
This week Professor Allan Fels, the former head of the Australian Competition and Consumer Commission (ACCC), has begun an inquiry into price gouging across a range of industries, including banks, insurance companies, supermarkets, and energy providers. The inquiry commissioned by the ACTU comes off the back of the highest inflation in 30 years and the biggest falls in real wages on record.
Every inflationary episode embodies a power struggle within society over who benefits from inflation, who loses out – and who will bear the cost of getting inflation back down.
Commonwealth on Track for Diminutive Deficit or Surplus in 2022-2023 In the lead-up to its 2023-24 budget, the Labor Government finds itself in an awkward position, accepting that the Jobseeker payment is “seriously inadequate” and an impediment to regaining work, yet professing that it lacks the financial capacity to afford a meaningful increase anytime soon.
Millennials are not becoming more conservative as they age – and the rigged housing market is just one reason why
New research released on International Women’s Day reveals Australian women earn $1.01m less over their working lives than men, based on median income data. Women earn $136,000 less in superannuation over their working lives than men, based on median income data. Women earning the median wage will accumulate approximately $393,676 in super, $151,000 below what
An urgent overhaul of poorly paid and casualised disability support work is needed to ensure the National Disability Insurance Scheme’s viability and protect participants from substandard care, a new report by the Australia Institute’s Centre for Future Work says.