The productivity problem driving up interest rates
· 15 min · Episode 2075
Episode The productivity problem driving up interest rates
For generations, Australians could reasonably expect that their lives would be more prosperous than their parents.
But over recent years, that bargain has started to break down.
Productivity growth has barely moved for a decade. We’re working more hours, without producing much more for each hour we work, and that stagnation is showing up in incomes, living standards and rising interest rates.
Now with economic growth under pressure, the government is betting that new technology, particularly artificial intelligence, can help turn things around.
Today, Productivity Commission Chair Danielle Wood, on why Australia has stopped becoming more productive, whether AI can change that, and what happens if it can’t.
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Guest: Productivity Commission Chair Danielle Wood
Photo: AAP Image/Dean Lewins
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Transcript
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