Are we facing a low growth future? - Part 1
Grattan Institute26 Syys 2017

Are we facing a low growth future? - Part 1

One of the big policy debates in Australia and around the world right now is whether economic growth will be slower in the future than in the past. Nearly a decade after the Global Financial Crisis and economic growth remains weak in many rich nations. Australia has been an exception to the malaise, but growth has slowed as the mining boom winds down. A growing number of voices are wondering whether we’ve entered a “new normal” of slower economic growth, which would have big implications for Australians’ future living standards, our public policy choices and the state of our politics. In part 1 of this two-episode podcast, with the help of Australian Perspectives Fellow Brendan Coates and Productivity Growth Director Jim Minifie, we take a deep dive into the evidence that economic growth may be slower in the future and what might explain it. Stay tuned for part 2 where we will discuss what policymakers could do in response. Further readings To help listeners navigate the debate, below are a few references cited in the podcast discussion. Cardiff Garcia, Productivity and innovation stagnation, past and future, FT Alphachat, 2016 [warning: paywall]. A great overview of all the various explanations of why productivity growth has slowed (with hyperlinks). https://ftalphaville.ft.com/2016/03/11/2155269/productivity-and-innovation-stagnation-past-and-future-an-epic-compendium-of-recent-views Jim Minifie, Stagnation nation, Grattan Institute, 2017. Is Australia at risk of economic stagnation as the mining investment boom fades? While the decline in business investment is no cause for panic, policymakers must do more to ensure we remain a dynamic, growing economy. https://grattan.edu.au/report/stagnation-nation Lukasz Rachel and Thomas D Smith (Bank of England), Secular drivers of the global real interest rate, Bank of England, 2015. Real interest rates, both globally and in Australia, have declined sharply over the past 30 years. Population ageing, rising inequality, slower future global growth and a global glut of savings by emerging market governments (among other factors), have pushed down real interest rates. The authors conclude most of these forces will persist, which could leave real interest rates as low as one per cent for the foreseeable future. http://www.bankofengland.co.uk/research/Documents/workingpapers/2015/swp571.pdf Robert Gordon, The Rise and Fall of American Growth: The US Standard of Living since the Civil War, 2016 Robert Gordon’s weighty tome is the most prominent of the wave of economists warning that economic growth will be slower in future. But rather than reading the 750 pages of Gordon’s book, check out this review by The Economist instead. https://www.economist.com/news/books-and-arts/21685437-why-economic-growth-soared-america-early-20th-century-and-why-it-wont-be

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Prime Minister's Summer Reading List 2022 - Event Recording

Prime Minister's Summer Reading List 2022 - Event Recording

Listen to Grattan CEO Danielle Wood in conversation with renowned journalist Eleanor Hall, as they discuss Grattan's top six thought-provoking, compelling, and relevant books from 2022. It’s been an extraordinary year, and these are extraordinary reads – not only for the Prime Minister, but for all Australians interested in public policy. Danielle and Eleanor were introduced by the CEO of State Library Victoria, Paul Duldig, and joined by the authors of three of these wonderful books, Debra Dank, Sam Vincent, and Jessica Au. The Grattan Institute 2022 Summer Reading List for the Prime Minister is: Career & Family: Women’s Century-Long Journey toward Equity – Claudia Goldin We Come With This Place – Debra Dank My Father and Other Animals – Sam Vincent Cold Enough for Snow – Jessica Au Buried Treasure – Jo Chandler (in the Griffith Review) Healing: Our path from mental illness to mental health – Thomas Insel Read more about the books: https://grattan.edu.au/news/announcing-grattan-institutes-2022-prime-ministers-summer-reading-list/ Purchase the books from Readings: https://www.readings.com.au/collections/grattan-institute-prime-ministers-summer-reading-list-2022#

12 Joulu 20221h 27min

How to strengthen general practice in Australia

How to strengthen general practice in Australia

It’s hard to believe that Australia’s universal healthcare system, Medicare, is almost forty years old. Over that time, Australians’ health needs have changed significantly. We’ve got an ageing population, and mental illness and chronic disease are on the rise. GPs’ work is more complex – and Medicare hasn’t kept up. Our latest report, A new Medicare: Strengthening general practice, calls on Government to overhaul a system that is reaching a mid-life crisis. Host Kat Clay is joined by the authors of the report, Health Program Director, Peter Breadon, and Visiting Fellow Danielle Romanes, to discuss how to strengthen general practice in Australia.

8 Joulu 202217min

What the new safeguard mechanism should do

What the new safeguard mechanism should do

The Safeguard Mechanism is a key policy in Australia’s fight against climate change, which caps emissions from big industrial facilities and other large polluters. Greenhouse gas emitters, from LNG platforms to mines to airlines, must keep their emissions below a baseline, or pay. Now it faces reform, as the Albanese government has committed to amend the mechanism, to meet the 2030 target of cutting emissions to 43% below 2005 levels. But as ever, the devil is in the detail. Host Kat Clay is joined by Alison Reeve, Deputy Program Director, and Esther Suckling, Associate, to discuss the Safeguard Mechanism design issues facing the government. Read the Safeguard Mechanism reform paper: https://storage.googleapis.com/converlens-au-industry/industry/p/prj2135e8da0cf17d76c70fc/public_assets/Safeguard-Mechanism-consultation-paper.PDF For more information, visit: https://grattan.edu.au/

20 Marras 202217min

What is the motherhood penalty?

What is the motherhood penalty?

It won’t come as a surprise to the mums listening to this podcast, but there’s a price to pay for being a mother. Whether it’s the countless extra hours of unpaid labour, losing out on a promotion because you’ve got to pick the kids up from school, or even choosing to work part-time, this all has an enormous impact on lifetime earnings for Australian mothers. In this podcast, Kat Clay interviews Natasha Bradshaw, co-author of a Treasury paper on children and the gender earnings gap, alongside Owain Emslie, Grattan senior associate, on his policy recommendations to reduce the motherhood penalty. Read the Treasury paper: https://treasury.gov.au/sites/default/files/2022-10/p2022-325290-children-gender-gap.pdf Read Dad Days: https://grattan.edu.au/report/dad-days/ Read Cheaper Childcare: https://grattan.edu.au/report/cheaper-childcare/ Donate to Grattan: https://grattan.edu.au/donate/

13 Marras 202220min

How the National Housing Accord could ease the housing crisis

How the National Housing Accord could ease the housing crisis

One of the biggest announcements of the October federal Budget was the National Housing Accord, with the goal to build one million new, well-located homes over five years from 2024. Host Kat Clay and Economic Policy Program Director, Brendan Coates, discuss this ambitious goal, and how it could ease the housing crisis. For more information, visit: https://grattan.edu.au/

6 Marras 202223min

Federal Budget 2022: costs, cuts, and consequences

Federal Budget 2022: costs, cuts, and consequences

Treasurer Jim Chalmers handed down his first budget on Tuesday night, amid the usual fanfare of speculation, promises, posturing, and of course, photo ops. In this special Grattan podcast episode, Danielle Wood, CEO, and Kate Griffiths, Deputy Program Director, cut through the fanfare to the heart of this federal budget, and what it means for Australia's economic future.

27 Loka 202217min

What just happened in the Victorian energy market?!

What just happened in the Victorian energy market?!

The Victorian Government’s announcement of the revival of the State Electricity Commission, alongside bold targets for climate change and renewables, is the most dramatic in the last 25 years of Australia’s energy system. Tony Wood, Energy and Climate Change Program Director, and Alison Reeve, Deputy Program Director, break down this announcement and what it means for Australian policymakers, industry, and consumers. Donate to Grattan: https://grattan.edu.au/donate/

21 Loka 202227min

How to improve curriculum planning in schools

How to improve curriculum planning in schools

For teachers, deciding what to teach and how to teach it can be a big part of their job. Great teaching inside the classroom relies on great planning and preparation outside of the classroom and this takes time. But how do teachers find the time for this kind of curriculum and lesson planning? For our latest report, Ending the lesson lottery: How to improve curriculum planning in schools, our staff surveyed more than 2,000 Australian teachers and school leaders, about curriculum planning practices in their schools and what help they need. Listen to host Kat Clay in conversation with Senior Associate Amy Haywood, and Associate Nick Parkinson, on how to improve curriculum planning in Australian schools. Read the report: https://grattan.edu.au/report/ending-the-lesson-lottery-how-to-improve-curriculum-planning-in-schools/

16 Loka 202220min

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