A reminder that the RBA and other compliant economists spent a couple years telling @australiainstitute.org.au that companies were not marking up prices in 2022-23.
The failure of Australia’s economic establishment was truly embarrassing
A reminder that the RBA and other compliant economists spent a couple years telling @australiainstitute.org.au that companies were not marking up prices in 2022-23.
The failure of Australia’s economic establishment was truly embarrassing
And so corporate profits squirreled away for share buy backs and to "provide shareholder return" is killing the investment in increasing productivity. In other words - rich get richer, workers work harder to try and stay afloat.
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