It’s easy to blame politicians for our grumpiness. It’s also valid
The author argues that Australian public dissatisfaction is driven by a combination of stagnant real wages and a perception that politicians prioritize short-term gains over long-term national interests. The piece suggests that current economic conditions are not just a result of inflation, but of structural changes in wage bargaining.
Why it matters
It provides a critical perspective on the intersection of economic policy and public trust in democratic institutions.
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Share A A A These are dog days for Australians, it seems. Some of this despondency is easily explained, but some requires us to dig deeper.
To an economist, it’s hardly surprising people are unhappy. To ordinary punters, their big complaint is the rapidly rising cost of living. But though we know that the rate of inflation – that is, the prices of the goods and services we buy – is above the Reserve Bank’s target range of 2 to 3 per cent a year, economists know that’s not the real problem.
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