Australia’s stagnant economy

For all the talk about ‘uninterrupted economic growth’, Australia’s economy has underperformed in recent years. Economic growth has slowed, wages growth has declined, and productivity is in reverse. For the median household, living standards have fallen since 2013. At the heart of the malaise is a complacent federal government, which has done little to encourage dynamism in the economy. Too many sectors are dominated by cosy monopolists, too few start-up firms are challenging the incumbents, and there is too little genuine innovation. Over the past generation, the Australian economy has been lucky. But without more diversity and dynamism, our economy risks failing to deliver the outcomes that are essential to long-term wellbeing.

Dr Andrew Leigh proposes innovative solutions for economic reform.

Dr Andrew Leigh MP is the Shadow Assistant Minister for Treasury and Charities, and Federal Member for Fenner in the ACT. He holds degrees with first class honours in Arts and Law from Sydney University and a PHD in Public Policy from Harvard. He was a Professor of Economics at the ANU. Andrew is a member of the Australian Academy of Social Sciences and a past recipient of the Young Economists Award from the Economics Society of Australia.

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