Richard Holden, a UNSW economics professor, and Steven Hamilton, an assistant professor at GWU, delve into Australia’s impressive state capacity. They discuss the effective economic interventions during COVID-19, examining the successes and failures of vaccine procurement. The conversation shifts to the complexities of federalism and housing challenges, as well as the need for reforms in unemployment insurance. Holden and Hamilton also highlight the role of local governance in crisis response, advocating for improved strategies to enhance public trust and accountability.

Shane Oliver and Richard Holden dive into Australia's budget, analyzing cost-of-living relief, government spending on green tech, and the historical context of industry support. They question the sustainability of sector investments and explore the impact on productivity, fiscal management, and investments in green hydrogen and critical minerals processing.

In this discussion, Richard Holden, an economics professor at the University of New South Wales and author of "Money in the 21st Century: Cheap, Mobile and Digital," dives into the potential rise of private digital currencies and the power shift it could create. He highlights China's digital currency's vast influence and argues for the U.S. to create a 'Fedcoin' to combat competition. The conversation also touches on the challenges tech giants face entering the banking space and the implications of navigating a cashless society.