Profits v Wages, what’s driving inflation?
Australians have been experiencing a dramatic rise in the cost of living thanks to inflation. While the business sector was quick to blame wages for rising inflation, the Australia Institute and the Center for Future Work took a look at the data, and it told a very different story.
This was recorded on Monday 5th June 2023 and things may have changed since recording.
The Australia Institute // @theausinstitute
Guest:
Richard Denniss, Executive Director, the Australia Institute // @RDNS_TAI
Host: Ebony Bennett, Deputy Director, the Australia Institute // @ebony_bennett
Producer: Jennifer Macey // @jennifermacey
Edited by: Emily Perkins
Theme Music: Pulse and Thrum; additional music by Blue Dot Sessions
Between the Lines Newsletter
The biggest stories and the best analysis from the team at the Australia Institute, delivered to your inbox every fortnight.
You might also like
Corporate Profits Must Take Hit to Save Workers
Historically high corporate profits must take a hit if workers are to claw back real wage losses from the inflationary crisis, according to new research from the Australia Institute’s Centre for Future Work.
Opening statement to the ACTU Price Gouging Inquiry
This week Professor Allan Fels, the former head of the Australian Competition and Consumer Commission (ACCC), has begun an inquiry into price gouging across a range of industries, including banks, insurance companies, supermarkets, and energy providers. The inquiry commissioned by the ACTU comes off the back of the highest inflation in 30 years and the biggest falls in real wages on record.
Blame Game on Inflation has Only Just Begun
Every inflationary episode embodies a power struggle within society over who benefits from inflation, who loses out – and who will bear the cost of getting inflation back down.