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Steven Hamilton

‘Prosperity first’ to get us out of economic stagnation

Whoever wins the next election, if a decision comes before you, employ one criterion: will this make Australia more or less prosperous?

Steven HamiltonColumnist
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I have a modest proposal for whoever wins the next election: for the next three years, focus monomaniacally on advancing Australian prosperity excluding all else. Prosperity first. Let it be the first thing you think of when you wake up and the last thing as you fall asleep.

If a decision comes before you – no matter what it is – employ one criterion: will this make Australia more or less prosperous? After three years, evaluate its efficacy and if it has led to deleterious outcomes, choose an alternative. But we won’t know if we don’t try.

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Steven Hamilton is assistant professor of economics at George Washington University and visiting fellow at the Tax and Transfer Policy Institute at the ANU.

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    Original URL: https://www.afr.com/policy/economy/prosperity-first-to-get-us-out-of-economic-stagnation-20250130-p5l8bi