The Economy, Stupid

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.

Treasury has warned that Australia’s tax base is shrinking - and without reform, wage earners will carry more of the burden. So, who should pay more tax: workers, wealthy retirees, or big business?

This week on The Economy, Stupid: the biggest superannuation scandal in Australian history — and who should have stopped it.

Australians are still in work, and inflation is coming down, yet economic uncertainty is far higher now that it was during the peak of COVID.So why are so many of us feeling uneasy?

If you're not carrying any hard cash on you right now, you're not alone - and that might be a problem.This week we look at Australia’s crumbling cash system: why it’s costing millions to keep it alive, who’s footing the bill, and how close we really are to the end of cash.

In 2017, Donald Trump reportedly scrawled “trade is bad” in the margins of a speech — a blunt rejection of economic orthodoxy that has transformed global politics.  Economists tend to see international trade as good for everyone - a rising tide that lifts all boats. So why do so many voters, in the U.S. and elsewhere, feel like they’re being left behind?  

This week the Reserve Bank kept interest rates on hold, that was a shock for the industry, but the most surprising thing? For the first time, they told us the board didn’t agree. Six said hold, three said cut. Why does that matter? Because we know the room is divided and that changes everything.  Guests:Nicki Hutley - Senior economist and chief economist at all manner of financial institutionsMichael Pascoe - Writes for Michael West Media. Get in touch: We read all of your emails, and appreciate each one. Please keep them coming theeconomy.stupid@abc.net.au or use the #PeterMartinEconomy on Instagram to get our attention.

What if you could earn over $1 million and pay nothing in tax? Turns out some Australians already do. Is it time to rethink the rules?  

Miranda Stewart, Director of Tax Law at the University of Melbourne, and Ben Phillips, Principal Research Fellow at the ANU, dissect the complexities of Australia’s tax system. They delve into tax fairness, highlighting generational inequalities in superannuation and the burden on younger workers. The duo discusses the intricate relationship between tax reforms and economic growth, and tackle the challenges tied to Australia’s franking credit system and GST. Their insights spark ideas for a more equitable and efficient tax landscape.

Treasurer Jim Chalmers thinks Ezra Klein's book, Abundance, is a ripper. Building things directly and sweeping away red tape could soon be part of a productivity measure. An investment arm of the United Arab Emirates wants to buy Australia's Santos. Should the Treasurer impose conditions on approving Australia's biggest-ever resource takeover? Plus, a 'GST Guarantee' for the West. What’s wrong with doling out the revenue from Australia's resources on the basis of need? Guests:Matt McKenzie - Resources writer for the West Australian Megan Flamer - Senior Industry Fellow at RMIT Univesrity Get in touch: We read all of your emails, and appreciate each one. Please keep them coming theeconomy.stupid@abc.net.au or use the #PeterMartinEconomy on Instagram to get our attention.