The Economy, Stupid Why Has Australia's Economic Progress Stalled?
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Aug 21, 2025 Dan Ziffer, an ABC business reporter, and Amy Oster, a former senior Treasury official, dive into Australia's economic stagnation. They discuss the alarming decline in competition and the pressing need for reforms to revive the economy. With insights from a recent summit, they explore the challenges of government incentives and the impact of a crucial court ruling on workplace regulations. The conversation also sheds light on progress in gender pay equity and the ongoing wage gap, making for a compelling discussion on Australia’s economic future.
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Australian Productivity Has Stalled
- Productivity in Australia has flatlined: output per hour is no higher than six years ago.
- That stagnation signals the nation's growth engine has effectively stalled and needs structural fixes.
Industry Concentration Is Rising
- Australian industries are becoming more concentrated, with top firms growing market share over time.
- Increased concentration correlates with fewer new entrants and reduced competitive dynamism.
German Supermarket Pulled Out
- Dan recounted a planned German supermarket entry into Australia that was cancelled by its global board.
- The board concluded market incumbents made entry too slow and costly, so they pulled the pin despite earlier preparations.