Global recession looks likely. Even if Australia escapes it, we are in for a bad couple of years
- Written by Steven Hamilton, Visiting Fellow, Tax and Transfer Policy Institute, Crawford School of Public Policy, Australian National University
ShutterstockEconomics is confusing at the best of times. But, at the moment, it’s downright counter-intuitive.
Inflation is at its highest in decades, and we’re feeling the pain of the lower real wages that brings. Meanwhile, unemployment is its lowest in half a century, with virtually anyone who wants a job able to get one.
Interest...