Why are economists are so bad at predicting what’ll happen in the economy? Why is HECS indexed? And why do we measure labour as a cost but profit as a universal good? On the final episode of Dollars & Sense for the year, Greg and Elinor answer your questions about the economy.

This discussion was recorded on Thursday 12 December 2024 and things may have changed since recording.

Order What’s the Big Idea? 32 Big Ideas for a Better Australia now, via the Australia Institute website.

Host: Greg Jericho, Chief Economist, the Australia Institute and Centre for Future Work // @grogsgamut

Host: Elinor Johnston-Leek, Senior Content Producer, the Australia Institute // @elinorjohnstonleek

Show notes:

‘Politicians love talking about ‘middle Australia’. But beware of this misleading metric’ by Greg Jericho, Guardian Australia (December 2024)

The world’s youngest Nobel-winning economist with Esther Duflo, BBC Business Daily (November 2019)

Wealth and inequality in Australia by David Richardson and Frank Stilwell, the Australia Institute (August 2024)

‘Why won’t concrete fly? It’s a key question for Australia’s economy’ by Greg Jericho, Guardian Australia (July 2013)

Theme music: Blue Dot Sessions

We’d love to hear your feedback on this series, so send in your questions, comments or suggestions for future episodes to podcasts@australiainstitute.org.au.