What most people think is exactly what Professor Garnaut and his peers are now confirming. The article in it's entirety is highly worth reading.
Can these economists turn things around for Australia's betrayed generations? In recent weeks, key members of Australia's last generation of true economic reformers have been speaking up with urgency about the poor state of our economy.Professor Ross Garnaut, former Treasury secretary Ken Henry and former competition tsars Allan Fels and Rod Sims have each been in the news lately.All were deeply involved in the reform era of the 1980s and 1990s, when the Hawke and Keating Labor governments restructured Australia's economy to drag it out of a period of stagnation.And now, decades later, they're ringing alarm bells again."Why are you hearing more of these older voices? Because we've just had the worst decade ever for economic performance in Australia's history," Garnaut told me last week."This last decade, starting in 2013, was the first decade in our history where real wages were — on average — lower at the end than at the beginning. You can't find any other 10 years since Federation where that has happened."That's why old people like us feel like we can't keep quiet. It's a catastrophe." https://www.abc.net.au/news/2024-02-18/can-these-economists-turn-things-around-for-younger-australians/103480052?utm_campaign=abc_news_web&utm_content=link&utm_medium=content_shared&utm_source=abc_news_web
