Uncommon Sense: What's Really Causing Inflation And Why Jacking Up Interest Rates Won't Fix It
Want to know what's really causing inflation? Hint: It isn't rising wages or household spending. According to economist Dr Richard Denniss, the majority of Australia's inflation crisis is caused by skyrocketing corporate profits. Richard tells host Amy Mullins why the Reserve Bank has largely got the medicine for our inflation problem wrong, and what can and should be done instead of jacking up interest rates.
Richard also explains the bipartisan malaise behind the federal COVID-19 policy silence that is leading to significant deaths, excess deaths, and long term chronic disease and disability. The pandemic isn't over but our politicians have all but decided it is. What can be done? Richard Denniss explains this and more as per his latest piece in The Monthly. Richard is Executive Director of The Australia Institute.