Not many of us care for Mondays, and statistically it really is the most dangerous day of the week as opposed to Black Friday where the biggest danger is watching your money disappear. Guest: Fleur Brown from the Australian Retailer's Association Milad Hagani from the University of NSW Also, why are we not spending more on upskilling and training our workforce? Andrew Barker Head of Research at CEDA
Germany's economic dominance as Europe's biggest economy is in danger. A new book argues that the weaknesses have been brewing for decades, leaving Germany over-reliant on Russian gas, too focused on old industries and unable to adapt to the digital realities of the 21st century. Guest: Wolfgang Munchau, former Financial Times associate editor, and author of Kaput: The End of the German Miracle, outlines the myriad economic problems and a possible way out. Kaput will be published by Allen and Un...
Germany's economic dominance as Europe's biggest economy is in danger. A new book argues that the weaknesses have been brewing for decades, leaving Germany over-reliant on Russian gas, too focused on old industries and unable to adapt to the digital realities of the 21st century. Guest: Wolfgang Munchau, former Financial Times associate editor, and author of Kaput: The End of the German Miracle, outlines the myriad economic problems and a possible way out. Kaput will be published by Allen and Un...
Donald Trump's economic agenda is clear: less taxation and regulation; more tariffs. But some of his programs will require a lot of money, which means America will need to borrow more. Those borrowings and the impact of tariffs will affect small, open trading economies, like Australia. Guests Professor Susan Stone, Credit Union SA Chair of Economics, University of South Australia Win-Li Toh, Principal, Taylor Fry
Australians fork out much more on dental care than any other kind of health care. Which is why increasingly, people are delaying or skipping dental care, and 27% of kids aged between 5 and 10 had untreated decayed or missing teeth. So should, or could dental care be brought under the Medicare umbrella, and what might this cost? Guests: Peter Breadon, Program Director for Health and Aged Care at the Grattan Institute Dr Angie Nisson, Board Member of the Australia Dental Association and Clinical D...
One of the factors determining how people vote is the economy, and while America's is doing incredibly well right now, consumer confidence has slumped and most Americans are not feeling at all happy. Guests: Betsey Stevenson, Professor of Economics and Public Policy at the University of Michigan Robert Armstrong, US Financial commentator at the Financial Times Christopher Rugaber, covers the US economy and Federal Reserve for Associated Press
There's a seismic change heading our way that will drive up electricity and water usage and it has to do with the uptake of generative AI, including Chat GPT. Giant tech companies are investing in nuclear power for their AI-fuelled race, however data centres also need clean, drinking-quality water. Guests: Ben Geman, energy reporter at Axios.com and the author of the daily Axios Generate newsletter, covering the world of energy business and politics. David Berreby, science writer based in New Yo...
Obesity and associated health problems cause a significant burden on health systems, but should weight-loss drugs be offered under our PBS just for weight loss? In Britain, there is to be a trial of the weight loss drug Mounjaro, that will also seek to measure the economic impact of those benefits. Britain's Health Minister argues that weight loss drugs will be '"life-changing, help them get back to work and ease the demands on our NHS". Guests: Dr Norman Swan, co-presenter of ABC Radio National...
The continuing wars in Ukraine and the Middle East have horrified the world with the loss of life and devastation, raising the question, what's the cost of weaponry? World military expenditure surpassed $US2.44 trillion for the first time in 2022. Latest available figures show at $US916 billion, the US spends the most and it's also the world's largest exporter of weapons. Also US spending on Israel's military operations and related US operations in the Middle East this year total $22.76 billion,...
In a new economic analysis of religions, Paul Seabright argues that religions are not the antithesis of economics, instead he likens them to competing businesses, attracting people by providing services such as community and a greater sense of meaning in life. The Divine Economy, published by Princeton University Press Guest: Paul Seabright, teaches economics at the Toulouse School of Economics. Prior to that he was a Fellow of All Souls College at the University of Oxford....
Australian's love affair with paying by card - and not cash - has now surpassed 90% of transactions. And each time we tap our card, the merchant incurs a cost that's passed onto you, the customer, to the tune of billions of dollars a year. So who gets the money? As part of a Review of Retail Payments Regulation, the RBA is expecting the industry - the banks, card companies and payment terminal companies - to cut processing costs by using what's called 'least cost routing'. Brad Kelly, Managing D...
The recent Senate Economics Reference Committee chaired by Andrew Bragg, delivered an extremely critical report on the performance of the corporate regulator, ASIC. It was recommended that the Australian Securities and Investments Commission be split into two bodies to address a perceived lack of competence. Guests: Andy Schmulow, Associate Professor in the School of Law at the University of Wollongong Dr Jason Harris, Professor of Corporate Law, Interim Deputy Dean and Interim Deputy Head of Sc...
Treasurer Jim Chalmers recently said that 'high interest rates had smashed the economy'. And the Albanese Government has been set on driving through changes recommended in last year's independent review of the RBA - the biggest overhaul of the Reserve Bank in decades. But after the LNP withdrew its support for reform, Labour is now looking to the Greens. So how will we know whether the RBA is doing a good job or not? Guests: John Simon, former Head of Economic Research at the Reserve Bank, now A...
Free to air TV was once the only place to watch your favourite football match, but that could change as streaming services and tech companies now compete for sports media rights. Sports bodies sell their rights to broadcasters, who then sell advertising slots or subscriptions, so the clubs and athletes get paid. While this mostly remains the case in Australia, the global value of these rights will this year surpass $US 60 billion with Amazon Prime, NBC and ESPN joining up for the rights to both ...
We're almost a quarter of the way into the 21st Century and already it's clear money has changed. It's increasingly mobile. It's (relatively) cheap and more and more digital. Economist Richard Holden is charting the changes. Guest: Richard Holden, Professor of Economics at the University of NSW Business School Author of "Money in the 21st Century; Cheap, Mobile, and Digital' published by University of California Press.
It is a bird? Is it a plane? Well, yes, it is a plane, but it's also something much more. We all know that airlines fly passengers and freight around the country and the world. But they're also like banks, and data collecting businesses. And that's because of the growing importance of their frequent flyer programs. Though you no longer need to fly to gain points. As customers we're not sure what these points are worth. But to the airlines, loyalty programs are so lucrative that they are a core p...
During RN's Science Week we focus on the business of space and the new global race to put people on the Moon. The space economy is predicted to be worth $US1.8 trillion in ten years time and one of the first steps is the construction of a Lunar Gateway, serving as a pathway to Mars. So what are the likely benefits for us on earth from this re-energised space race? Peggy Hollinger, Space Industry Editor for the Financial Times Professor Anna Moore, Director of the ANU's Institute for Space Ryan B...
The Paris Olympics were designed to be 'infrastructure light' to avoid outlandish construction costs, yet the overspend is estimated at $US1 billion. Since the 2016 Rio Olympics' budget overrun by 352 per cent, many cities withdrew their bids in the face of strong public opposition. So should Olympic Games be held in one permanent location every four years? And how are plans for Brisbane's 2032 Olympic Games progressing? Andrew Zimbalist, Professor of Economics at Smith College, Massachusetts. A...
How have CEO bonuses reached such stratospheric levels? What do chief executives have to do to get them and how does getting them influence how they run the business? Researchers have found that CEO bonuses can lead to some sneaky corporate behaviour. And the incentives often don’t align the interests of the boss and the shareholders. Anna Bedford, Associate Professor at UTS Geoff Martin, Professor of Strategy at Melbourne Business School Dr Rebecca Bachmann, Lecturer, Department of Account and ...
What does the Crowdstrike outage have to teach us about risk management and relying on cyber?
Shopping malls are very big business globally and Australia's no different, with the twelve largest centres earning over $1 billion annually. Initially designed in the 1960s to accommodate hundreds of cars, targeting the suburban housewife, today they come in all sizes - from the big guns, to mini guns - and are much more responsive to diverse cultural needs, changing consumer trends, and the latest in entertainment.
Indigenous business and home ownership is on an upward trajectory. The role played by Indigenous owned and operated businesses in Australia's economy has expanded, contributing over $16 billion to the economy, and over $4.2 billion in wages. And Indigenous Business Australia has helped tens of thousands purchase their own home. No mean feat during this cost of living crisis. Laura Thompson, Co-Founder, Clothing the Gap Michelle Evans, Director of the Dilin Duwa Centre for Indigenous Business Lea...
This week, everyone who's got a job will have more money in their pocket, thanks to the introduction of the Stage III tax cuts? So how do people plan to use the extra money? And is it good policy? In addition, hundreds of tariffs on imports will also be cut, a decision that economists love and applaud. Guests Kristen Sobeck, Research Fellow, Tax and Transfer Policy Institute, ANU Matthew Bowen, Head of Consumer and Market Insights, ING Bank Australia Alex Robson, Deputy Chair, Productivity Commi...
If we reduce the number of immigrants will that reduce pressure on infrastructure and the cost of housing? The short answer is yes, but it will cost us in other ways. So how should we choose our skilled immigrants and help them make the biggest contribution? Guests Diana Mousina: Deputy Chief Economist, AMP. Brendan Coates: Economic Policy Program Director, Grattan institute. Cassandra Windsor: Chief Economist, CEDA ( Committee for Economic Development of Australia) Tim Harrison: CEO of Ararat R...
Making bucket loads of money from crime is one thing but what do you then do with it all? Investigative journalist Geoff White explains how big time crims are making their dirty money clean. Guest: Geoff White, author of Rinsed: From Cartels to Crypto, How the Tech Industry Washes Money for the World’s Deadliest Crooks.
Coffee prices have climbed on commodity markets but not so much in cafes. Why is that?
People are drinking less alcohol, especially Millennials and Gen Z. And the drinks industry has noticed. Low-alc and no-alc drinks make up a tiny fraction of the market. But it’s growing at 7 percent a year. And, as more of us either moderate our drinking or stop altogether, the future for these drinks look bright. But the way they’re advertised, marketed and packaged makes them look very like alcoholic drinks and there’s some concern they may act as a gateway to alcohol. Guests: Simon Strachan,...
TikTok, the phone app that sends a stream of viral videos to every user, is in trouble in the United States. The company must either change its Chinese ownership, or leave the American market. In response, TikTok is underlining its economic contribution, in Australia and elsewhere. So how much difference does it make? Guests: Dr Joanne Gray, Lecturer in Digital Cultures, University of Sydney Ariana Hendry, Co-founder, Beysis Kristian Kolding, Head of Consulting, Oxford Economics Australia Profes...
As they say a “diamond is forever”. But does it matter if that diamond is grown in a lab or mined from the Earth? Especially if they both are chemically, physically, and optically identical. And given that cost of living pressures are colliding with consumers’ desire to not compromise on size or quality, more and more Australians can see the logic behind lab grown gems. In America, lab-grown may have peaked. Guests: Cormac Kinney, Founder & CEO, Diamond Standard Paul Zimnisky, Leading Global...
This year’s Budget tries to do several things at once. In the short term it offers cost-of-living relief but tries not to contribute to inflation. In the longer term it departs from decades of economic orthodoxy by picking industries to invest in. Specifically, green hydrogen and critical minerals. But will it work? And how responsible is it? Three of the country’s leading economists offer their views. Guests: Shane Oliver, Chief Economist, AMP Richard Holden, Professor of Economics, UNSW Busine...
