The Economy, Stupid Why Has Australia's Economic Progress Stalled?
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Aug 21, 2025 Dan Ziffer, an ABC business reporter, and Amy Oster, a former senior Treasury official, dive into Australia's economic stagnation. They discuss the alarming decline in competition and the pressing need for reforms to revive the economy. With insights from a recent summit, they explore the challenges of government incentives and the impact of a crucial court ruling on workplace regulations. The conversation also sheds light on progress in gender pay equity and the ongoing wage gap, making for a compelling discussion on Australia’s economic future.
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German Supermarket Pulled Out
- Dan recounted a planned German supermarket entry into Australia that was cancelled by its global board.
- The board concluded market incumbents made entry too slow and costly, so they pulled the pin despite earlier preparations.
Competition Gains Could Boost GDP
- Restoring past levels of competition could lift GDP materially, with estimates ranging $3,000–$5,000 per person.
- The mechanism to achieve this centers on reducing market concentration and raising firm dynamism.
Launch A Funded Competition Reform
- Re-run a decade-long national competition reform similar to the 1990s Hilmer agenda with funded governance.
- Use dedicated institutions and long-term funding to identify and remove barriers to competition.