the actions of the previous 3 govts to suppress wages growth was simplistic and misguided. they thought that lowering real wages would improve productivity. it failed for the obvious reasons: depressed consumption and family financial distress resulting in the increased participation rate resulting in struggling families and mortgage/rental arrears.
this coupled with job insecurity causing people to be more careful with spending leads to a depressed economy. exactly what Lowe was upset about in early 2019 and why Frydenberg caught Lowe and dragged him by the scruff of his neck into F.'s office for his carpeting.
the damage to the Aus economy from Abbottesque 'economics' (not really economics but like Reagan's and Thatcher's failed drip down economics) is yet to be told.
I can't yet credit the Lab mob for good economic management as it will take time for the wages growth to stabilise and produce real, measurable results.
