Exchanges with Saul Eslake: The Productivity Problem

Australia has a productivity problem, but is it as simple as saying this or is there a nuance to it? This week on Exchanges, Evan sits down with one of Australia's most respected economists, Saul Eslake, to discuss this very question. Saul draws the link with why productivity matters more than most people realise, how it connects directly to the wages in our pockets and the cost of the lives we lead. The question this raises is: what policy measures could actually move the needle on economic growth and inflation management in Australia if productivity continues to flat line. To follow Saul click here: Website: https://www.sauleslake.info LinkedIn: https://www.linkedin.com/in/saul-eslake/ Chapters 02:22 Recent trends in Australian productivity and income growth 03:50 Global perspective on productivity challenges 04:35 Misconceptions about productivity and work effort 05:37 Management's role in enhancing productivity 07:10 Measuring productivity in the care economy 08:31 Productivity trends in key industries like mining and construction 10:18 Strategies to boost productivity: regulation, innovation, and labor mobility 13:55 The impact of low interest rates and zombie firms 15:14 Job mobility and its effect on productivity 17:35 Industry-specific productivity issues and policy implications 19:58 The role of small business in productivity growth 21:21 Balancing growth and inflation control 24:43 Policy reforms for improving productivity in sectors like construction 25:44 Lessons from the Productivity Commission report 27:55 The role of monetary policy and interest rates in inflation management 30:55 Fiscal policy and government spending's impact on inflation 34:34 Achieving inflation targets through supply and demand management 36:51 What I would do if in charge: tax reform and structural policies