by Richard Denniss
[Originally published in the Australian Financial Review, 18 March 2019]
Like a dog that doesn't know what to do when it catches the car it's been chasing, the business community doesn't seem to know what to do now they've pushed wages growth to record lows and the profit share of GDP to all-time highs. While some might read the room, bank their gains and mouth some platitudes about sharing said gains, the Business Council of Australia (BCA) and the Coalition are not for turning.
Dividend imputation was introduced by the then Treasurer Paul Keating in 1987 with the aim of eliminating the so-called double taxation of company income.
by Richard Denniss
[Originally published in the Australian Finacial Review]
Some political parties are coping better with the social and technological transitions that are reshaping Australia than others. Just as Kodak couldn't adapt to the digital era and Nokia couldn't adapt to the smartphone era, it's not obvious that all of Australia's current political parties will survive the seismic shifts rocking the economy and the electorate.
ABC recently announced plans for a new 6-part television drama called “Diary of an Uber Driver.” The Centre for Future Work's Director Jim Stanford wonders if this drama will truly constitute insightful drama - or whether it will serve to whitewash the labour practices of a controversial, exploitive industry.
A version of this commentary originally appeared on the 10 Daily website.
Workers produce more, but get paid less. Business invests less in real capital, but their profits grow. Technology advances at breakneck pace, but so many jobs are degraded and menial (not to mention horribly paid). What gives? Australia's labour market truly seems "upside down."
Jim Stanford, Director of the Centre for Future Work, was recently featured in a new video produced in collaboration with United Voice and the Flip production company.