Underlying Australia's inflation problem is a historic shift of income from workers to corporate profits
- Written by Jim Stanford, Economist and Director, Centre for Future Work, Australia Institute; Honorary Professor of Political Economy, University of Sydney
shutterstockShutterstockThe three years since the onset of the pandemic have witnessed a dramatic redistribution of national income, away from labour compensation and towards business profits.
No one should be surprised. Supply-chain disruptions, pent-up consumer demand and inflation have provided businesses with a golden opportunity to increase...