The Dismal Science

Unemployment keeps ticking down but wages still aren't moving. So is the relationship between unemployment and inflation broken? Plus, the latest confidence numbers, productivity in the care economy and BitCoin's wild ride.

This year's budget embeds the fiscal revolution that began last year. We look at what's in this big spending budget and whether the debt is sustainable. Plus, the RBA's latest forecasts and US jobs disappoint. Apologies for Ivan's awful audio this week - we had some technical difficulties recording remotely.

We parse the latest statements of the RBA and US Treasury Secretary Janet Yellen for hidden meaning on the recovery of the economy. Plus, house prices, a budget preview and sin taxes.

Mark says Treasurer Frydenberg has found the new fiscal religion on debt and deficits, plus weak inflation, jobs come off as JobKeeper ends and the latest from our own Director Sentiment Index.

Digital money is hot and central bankers want in. What is a central bank digital currency, how would it work and how would it be different from cryptocurrencies? Plus, more good news on the jobs front and what the European Super League proposal says about the global economy.

The vaccine rollout troubles continue as the government abandons its target. Is it time to downgrade forecasts? Will Australia be cut off from the world? And are we getting our risk calculus wrong? Plus, the latest confidence and jobs numbers.

The Australian property market is once again off to the races. What's driving it? What, if anything, should policymakers do about it? And will Ivan ever be able to afford a nice home? Plus, more trouble for the vaccine rollout, new IMF forecasts for global recovery and Biden's plan to have multinationals pay more tax. (We are a little late getting this one out, we recorded prior to the new advice on the Astra Zeneca vaccine for under 50s.)

We take a break from regular programming this week to bring you a conversation from the Australian Governance Summit between Mark and Harvard Business School professor Rebecca Henderson on her book Reimagining Capitalism in a World on Fire.

With fears it may once again be on the rise, we talk all things inflation. What causes it? Why is it bad? And is it coming back? Plus, how much slack is left in the labour market and has the fun stopped for GameStop?

Australia is a global laggard on the vaccine rollout and is well off the pace to meet its targets. So what is the rest of the world getting right, what are we getting wrong and should we be concerned? Plus, employment gets back to pre-pandemic levels and what is a non-fungible token?