Figures released yesterday by the Australian Bureau of Statistics (ABS) show that real net national disposable income (NNDI) fell by 1.1% over the year. In per capita terms this equates to a whopping 2.4% decline in per capita incomes for every man, woman and child across the country.
A cursory glance says Western Australia’s (WA’s) economy is doing okay. Real Gross State Product (GSP) is growing at a healthy pace, inflation is low and unemployment is a little high but a long way from the levels seen in the early 90s. But there is another story that doesn’t show up in those headline […]
The Australian road network is fundamental for society’s economic and social needs. The Harper Competition Policy stated that “Reform of road pricing and provision should be a priority. Road reform is the least advanced of all transport modes and holds the greatest prospect for efficiency improvements”.
The tax reform discussion has already started to narrow in on specific changes, such as increasing the GST, closing superannuation loopholes, and fixing negative gearing. However, beginning the reform conversation with critiques of individual taxes and suggestions for piecemeal fixes leaves us condemned to repeat the mistakes of past reform attempts.
Australia is a prosperous nation. In the decade to 2012 we reaped the benefits of a term of trade boom which further increased our wealth. But the boom has proved to be temporary and is unlikely to be repeated in the near future. Our next phase of growth will require measures that increase the productivity […]
People can spend money to buy many sources of happiness, such as living longer and healthier lives and having leisure time, yet the old adage that ‘money can’t buy happiness’ rings true. So why aren’t we like the rational, selfish homo economicus, for whom money always buys happiness?
A look at the role of prices and how they influence the buyers and sellers in a market.