The populist pile-on against Philip Lowe should really be directed at Canberra. We are now paying the inflation and interest rate price of the borrowing and spending through the pandemic.
Treasurer Jim Chalmers has produced an economic blueprint for the Albanese government. His aim is to reinvent the economy. Chalmers is also promising to “renovate” the Reserve Bank and to “renew and revitalise” the Productivity Commission.
Apparently, the Productivity Commission needs to advise the government on productivity and prosperity and progress – as if these things were somehow disconnected. As if it didn’t already do this.
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Sinclair Davidson is a professor of economics at the RMIT Blockchain Innovation Hub.
