GDP

Sam Wainwright asks how would bosses, who are currently demanding that Fair Work Australia not raise award wages, react to a legislated freeze on the price they charge for goods and services.

The underlying gross domestic product trend shows the profit share is up to an historic high and the labour share is down. Since 1975, more than $4 trillion has been shifted from wages to profits. Paul Oboohov explains how it got to this.

In 2009, economist Steve Keen walked from Canberra to Mount Kosciuszko after losing a bet that the Australian housing market would crash 40% after the Global Financial Crisis (GFC). However, he had been one of the few economists who actually predicted the coming of the GFC. And he still maintains that a crash in the Australian housing market is coming.

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