Reporting season has delivered another round of record bank profits. Yet, in itself, this is no bad thing. Former Reserve Bank governor, the late Sir Harold Knight, used to quip that profitable banks don’t…
- Professor Emeritus, The University of Melbourne
Treasurer Wayne Swan today announced that the mining tax had raised $126 million in the six months following its introduction, well below the $2 billion the government had expected it to yield this financial…
Various explanations have been offered for Prime Minister Julia Gillard’s decision to announce the date of the 2013 federal election almost eight months in advance. Most commentators, both those who applaud…
Reactions to my call this week for another inquiry into Australia’s financial system have been mixed. Most commentators seem to accept that there’s logic in having another inquiry, even if some think that…
A simple line graph of the share of mining investment in Australia’s GDP reveals the scale of what our economy is going through. It shows that mining investment is now twice as large relative to GDP as…
Australia’s stark comparative advantage in mining is both a boon and a bane to our economic development. Investment in the mining industry as a share of Australia’s GDP has already reached unprecedented…
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