Cyclone Alfred could boost the next GDP figure. Here’s why the numbers don’t add up
Why destruction isn't counted against GDP, but the replacement is.
Episodes
The Economy, Stupid
Formerly The Money, The Economy, Stupid is your weekly guide to the world of business, economics and finance. Every Thursday, economist Peter Martin is joined by a team of sharp young thinkers for a fresh conversation about the financial stories making headlines and how they might affect you.
Episodes
A deal with god: is super annuity the answer?
Your super is funding U.S roads and data centres. Is it simply, too big for Australia?
The RBA’s rate cut: a quick fix or a band-aid? How it affects you and why there might not be more to come
The RBA dropped interest rates this week - smart move? Or is the RBA kicking the financial can down the road? Plus, the South Australian government has forced the Whyalla Steelworks into administration. Then, the economic fallout of the family trust trial.
Tariff whiplash and Australia's inflation dragon
Tariffs are on the rise — so what does this mean for ultra-cheap sites like Temu? Then, is Elon Musk behind the recent slump in electric car sales? Plus, the question of whether Australia has slain the inflation dragon remains on the table.
How much would a tariff war hurt, really?
Trump's tariffs are here, but do those voting for them really understand how they work? Plus, the housing market is cooling down, but should we take it further and push prices down even more? And, we’re taxing tobacco heavily, but surprisingly, the tax revenue is dropping. Turns out, it’s not because people are quitting. Could we be facing a self-defeating tax? Taj Pabari - social entrepreneur and author of Young, Dumb and Financially Independent: What school didn't teach you about money. Emilia...
Is a rate cut (finally) on the cards?
With inflation down and right within the Reserve Bank's target band, is there any reason why we shouldn't now expect a cut in interest rates? Plus, a deep dive into DeepSeek, the Chinese AI firm that shook the US stock market this week; and the economics of the Australian Open - turns out there's more than a Grand Slam title at stake. Guests: Myriam Robin - Senior writer with the Australian Financial Review. Isaac Gross - former Reserve Bank economist, now lecturer in economics at Monash Univers...
Trump is back: Here's what it means for you (and your wallet)
With Donald Trump back in the White House, it's boom time for billionaires and tech bros. How much will these changes trickle down to Australia? Plus, you’ve probably noticed those fees racking up, every time you tap your debit card. A push is now on to ban them, but this might have some unexpected - and expensive - consequences. Guests: Megan Flamer - Innovation and organisational development specialist with Monash Business School (and founder of Excited Adults) Michael Janda - ABC News Busines...
INTRODUCING — The Economy Stupid
The Economy, Stupid is your weekly guide to the world of business, economics and finance. Every Thursday, economist Peter Martin is joined by a team of sharp young thinkers for a fresh conversation about the financial stories making headlines and how they might affect you.
INTRODUCING — The Economy Stupid
The Economy, Stupid is your weekly guide to the world of business, economics and finance. Every Thursday, economist Peter Martin is joined by a team of sharp young thinkers for a fresh conversation about the financial stories making headlines and how they might affect you.
The High Costs of Losing Sleep
Australians have a sleeping problem. The most conservative estimates show one in 10 have a sleep disorder, which is having an impact on their safety, wellbeing and productivity. This ends up costing almost a $1 billion a week. And that’s not all. The total cost of inadequate sleep is thought to be as high as $75 billion a year. We’re not alone either. International research shows places like the US, the UK and Europe are facing similar problems, with similar costs. Guests: Shanthakumar Rajaratna...
Story of Human Progress Through Six Materials
Journalist Ed Conway went on a journey to discover where the things we use in everyday life come from. He narrowed that search down to six vital materials: sand, salt, iron, copper, oil and lithium. These materials, he says, are like a gateway allowing us to see the spectrum of different things around us that really do matter. These materials from the ground that have enabled us to connect with each other, to provide energy and make machines. Guest: Ed Conway, Economics and Data Editor of Sky Ne...
The end of 'The Money'
After nine terrific years explaining how the economy and everything in it works, Richard Aedy looks back at the highlights of the decade as well as Australia's economic future with Danielle Wood, Chair of the Productivity Commission. Guest - Danielle Wood, Chair of the Productivity Commission
Why the NDIS is not enough
The NDIS is vitally important, but because it was not designed to do everything, there are many areas where disabled Australians need more philanthropic support, assistance for those who want to start their own businesses or enjoy easeful, diverse travel experiences. A story for IDPWD (International Day of People with a Disability) 3rd December Guests: Simon Darcy, Professor of Management, UTS Business School Emma Dawson, Executive Director of PerCapita Kirsty Nowlan, Executive Director of The A...
Dangerous Mondays and Black Fridays
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
Is Germany's economic power under threat?
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...
Is Germany's economic power under threat?
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...
Trumpenomics 2.0
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
Should dental care be part of Medicare?
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...
As America goes to the polls, the economy is doing well, but people aren't feeling it
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...
The true cost of AI
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...
Can we afford weight-loss drugs for all?
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 global weapons industry and what it's worth
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,...
How religions work as businesses - an economic analysis
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....
Each time you tap, you pay a little extra, and it all adds up
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...
Should ASIC be split to ensure better corporate regulation?
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...
Is the Reserve Bank doing a good enough job?
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...
Will the escalating cost of media sports rights change what we can watch?
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 ...
Today's money is mobile and digital. So how might it evolve?
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.
The Cost of Loyalty Programs
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...
The global race to the moon is on again
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...