The Economy, Stupid

Australia's social safety net is designed for those most in need - but increasingly the benefits are flowing to the wealthiest households. 

California is seeking to introduce a tax on the wealth of billionaires. Is it time we did the same?

You're driving around looking for petrol, and you notice station after station charging exactly the same price.That could be because they are competing fiercely, and have cut prices to the point where they can't cut them anymore.Or it could be because they've coordinated. Professor David Byrne examined 1.6 million prices in order to find out.Guests:David P. Byrne, Ritchie Chair of Economic Research, The University of Melbourne. Megan Flamer,  Senior industry fellow, RMIT University.Referred to:Negotiating Coordination: A Study in Retail Gasoline, David P. Byrne, Nicolas de Roos et al, The University of Melbourne, March 14, 2026Learning to Coordinate: A Study in Retail Gasoline, David P. Byrne,  Nicolas de Roos, The American Economic Review, July 23, 2018Price Discrimination by Negotiation: a Field Experiment in Retail Electricity, David P Byrne , Leslie A Martin , Jia Sheen Nah, The Quarterly Journal of Economics, April 19, 2022Consumer search and income inequality, International Journal of Industrial Organization, David P. Byrne, Leslie A. Martin, International Journal of Industrial Organization December 2021

Home prices are falling for the first time in more than three years. Is Labor's housing policy starting to work? And if prices come down, who wins and who loses? We unpack what's really driving the market, whether the budget's tax changes will make it easier to buy a home, what they mean for renters, and why Australia's housing affordability crisis can't be explained by immigration alone. Guests:Matthew Bowes, Senior Associate, Grattan InstituteMaria Yanotti, Senior Lecturer in Economics, University of TasmaniaReferred to:Housing market downturn deepens as demand headwinds build, Cotality, July 1, 2026The housing crisis that Australia built, Brendan Coates, Grattan Institute, March 11, 2026More homes, better cities: Letting more people live where they want, Brendan Coates, Joey Moloney, Matthew Bowes, Grattan Institute, November 5, 2025Housing submarket spillovers and COVID-19: the increasing influence of Australia’s regional cities, María Yanotti et al, December 31, 2025Housing Q&A, Diana Mousina, AMP, June 18, 2026Statement 4: Tax reform for workers, businesses and future generations, Commonwealth Budget, May 2026

Now that the dust is beginning to settle, what has happened to Labor's tax reform? And what does the way the debate played out tell us about the limits to what governments can do in the future? 

We are reliving the 1930s, according to author Viktor Shvets. Is there a peaceful way out?

If Australian taxpayers were given the choice, would we be willing to pay for the services we need? 

The latest economic figures suggest we're not in a recession. But new ABS data shows our overall life satisfaction is in decline. So which numbers should we trust?

For decades, governments have spent billions in hidden tax concessions that largely favour the ultra-wealthy. How did they get there?

Would cutting tobacco tax weaken a dangerous black market - or reverse decades of progress in reducing smoking deaths?

This week Labor touched the third rail of Australian politics: wealth and tax. Can it survive the backlash?

What does the federal budget really do for Australia’s housing crisis? Peter Martin from The Economy, Stupid joins Anthony Burke from By Design to examine whether changes to tax settings will make it any easier to buy a home.Peter Martin is an economist and the host of The Economy, Stupid, a weekly guide to the world of business, economics and finance. Listen to The Economy, Stupid here.

When RBA governor Michele Bullock announced the third consecutive interest rate rise this week, she acknowledged the real-world suffering that would result.But just how much pain is too much? And is there a better way?

Inflation has surged to its highest level in years, driven by soaring fuel prices, higher energy costs and global instability.For households already squeezed by rate rises, the pressure is mounting. Is this a short‑term shock the Reserve Bank can look through or the start of another prolonged inflation fight?What happens next for interest rates, wages, jobs, and the economy as a whole just one week before the Budget?Guests:Diana Mousina, Deputy Chief Economist, AMPDavid Bassanese, Chief Economist, BetaSharesShow links:See how the price of everything has changed, ABC News StoryLab, March 30, 2026Consumer Price Index, Australian Bureau of Statistics, March 29, 2026Why the official inflation rate feels wrong, The Economy Stupid, October 30, 2025Stagflation is about to push unemployment higher: here's what to expect, The Economy Stupid, March 26, 2026

Most Australians die with more money than they retired with. Are we squirrelling away too much into super — and if so, who benefits?

It is a bird? Is it a plane? Well, yes, it is a plane, but it's also something much more.We all know that airlines fly passengers and freight around the country and the world. But they're also like banks, and data collecting businesses. And that's because of the growing importance of their frequent flyer programs. Though you no longer need to fly to gain points. As customers we're not sure what these points are worth. But to the airlines, loyalty programs are so lucrative that they are a core part of their business.Guests:Katharine Kemp, Associate Professor at UNSW Law and JusticeDaniel Sciberras, Editor in Chief at Point HacksGanesh Sitaraman, Professor of Law at Vanderbilt University and author of Why flying is miserable and how to fix it, published by Columbia Global Reports Leona Tam, Professor at UTS Business School.This program is repeated from March, 2024

In the country’s most expensive housing markets, family help and the ‘bank of mum and dad’ is increasingly necessary for younger people to buy homes. But could this entrench and perpetuate lasting advantage for those already part of the property-owning class?GuestsDr Julia Cook: Senior lecturer, Sociology, University of NewcastleDr Laurence Troy: Senior lecturer in Urbanism, University of SydneyDr Monique McKenzie: Post doctoral research associate, University of SydneySophie Renton: Managing Director at social research firm, McCrindle.

The business model of online sports betting.