Productivity Growth

‘GDP tells us the cost of everything, and the value of nothing’. Alanna TranESSA Monash Clayton [Alanna is a third-year...

Australia’s productivity growth has averaged about 0.3 per cent a year over the past decade, and the familiar remedies of...

On the 4th of June this year, the ABS published its quarterly report on Australia’s economic growth. The statistics were tepid—0.2% growth in the March quarter, or 1.3% for the year ending in the March quarter. Hidden behind the main drivers of this sluggish growth—global uncertainty, extreme weather, level government spending—was another factor that led a  recent policy brief by the federal Parliamentary Library to conclude that Australia’s “long-term economic prosperity” is “under threat”.