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Older, bigger, slower growing, more diverse. Living standards at risk of going backwards. These were the key takeaways from the latest Federal Intergenerational Report (IGR), writes Dr Liz Allen. The intergenerational bargain or contract, which implicitly suggests that the country handed to each subsequent generation is the same, if not better, than the socioeconomic conditions enjoyed previously, has been eroded. Increasing or maintaining living standards can no longer be guaranteed. Australia’s dumb luck has run out.
CEDA Senior Economist Melissa Wilson writes that the results of the recently released 2021 IMD World Competitiveness Yearbook highlight the lack of dynamism in the Australian economy.
Percy Allan AM discusses positive and negative arguments for the future of the global economy, ranging from technological advancements, ageing populations, and global debt.
Read more Opinion article April 21, 2015