Australia looks to the future. What will the standard of living be like in 40 years time?

Recently the Federal Government released its Intergenerational Report. An Intergenerational attempts to predict trends in areas related to the Australian economy over a forty-year period. Those areas include population trends and economic growth. So, is the report optimistic about the future?

If migration to Australia patterns change what are the implications for the Australian economy and way of life? Does Australia have the correct number? Source: Image by lussqueittt /Creative Commons

Dr Peter McCawley AM, is a visiting fellow in the Indonesia Project at ANU and former Dean of the Asian Development Bank Institute, He explains to Sri Dean the key points of the recent Intergenerational Report and the extent to which the predictions might be reliable given current circumstances social, economic and political conditions.  Why is productivity crucial?

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