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The economics behind the ‘living wage’ debate

Australia has joined the global political trend towards greater wage regulation, with a recent campaign from the ACTU calling for a ‘living wage’. However, examining the predicted effects of such a change would reveal it to be based on misguided beliefs. Conor Yung explains.

Closing the Gap

March’s infographic looks at the employment disadvantage facing Aboriginal and Torres Strait Islander Australians.

That old chestnut: revisiting the minimum wage

 While reading fellow ESSA contributor Joey Moloney’s article I came across the under-consumption paradox. This was something that I had grappled with before in trying to reconcile the microeconomic lessons about price floors and the minimum wage with macroeconomic lessons about aggregate income and expenditure and the Keynesian Cross. It seems many other people have observed this contradiction before, including Karl Marx.

Read moreThat old chestnut: revisiting the minimum wage

The ALP Plays Around: Boot camp, Unemployment and the dole

With the announcement for a proposed ‘boot camp’ for unemployed youth coming out of the Education and Employment Government ministries this week, youth unemployment policy looks set to be a major election issue this September.
Yet the ‘boot camp’ initiative has been overshadowed by a report published on Wednesday by Andrew Baker at the Centre of Independent Studies that accuses the Government of manipulating unemployment figures for political gain with serious macroeconomic consequences.

Read moreThe ALP Plays Around: Boot camp, Unemployment and the dole