Australia: Incomes Fell As Stressed Economy Continued To Struggle

Australia recently had an election where they asked for a dramatic departure from previous fiscal policies.  The reasons were simple, in hindsight. Everyone wanted more money from an increasingly larger government but incomes were declining. Inflation is still happening, government employees still get raises, but average Australian income declines showed what government claims about economic health did not.   Increases and declines in economies have always happened but new work in the Economic Analysis and Policy journal finds that people are not better off than they were 20 years ago.   read more

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