Raising Living Standards Without Cuts or Division
A Bold New Policy Agenda for Australia’s Future
Australians are facing an unprecedented cost-of-living crisis, with wages stagnating, housing costs soaring, and social supports under pressure. In the wake of the COVID-19 pandemic, it’s clear: we need solutions that raise living standards without deepening social divisions.
The Investment and Inclusion series, a new publication from the Carmichael Centre and the Centre for Future Work, showcases progressive, practical ideas to tackle inequality and build a fairer, more resilient economy.
About the Series
In October 2024, the Carmichael Centre convened a symposium of Australia’s leading social policy thinkers, unionists, and economists. Their goal: to develop concrete solutions to the crisis in living standards through inclusive dialogue and shared expertise.
This series, featuring voices from the symposium, includes four powerful papers that challenge prevailing economic and public policy narratives and offer practical solutions to Australia’s living standards crisis.
Featured Papers
1. Inflation, Wages and a Fairer Economy
Greg Jericho (Chief Economist, The Australia Institute; Policy Director, Centre for Future Work)
Jericho examines how inflation is misunderstood when disconnected from wage growth—and why Australians are suffering unnecessarily. He proposes a shift in Reserve Bank policy and a renewed focus on promoting real wage increases.
2. Strengthening the Four Pillars to Restore Minimum Incomes and Reduce Inequality
Peter Davidson (Principal Advisor, ACOSS)
Davidson argues that growing inequality is not inevitable. Through strengthening the four key policy pillars - income support, minimum wages, full employment, and employment services - minimum incomes can be raised and inequality reduced.
3. Strengthening Workers’ Power (forthcoming)
Thomas Greenwell (Senior Economist, ACTU)
Greenwell highlights how decades of declining collective bargaining and high underemployment have undermined living standards. His paper calls for renewed support for unions, stronger collective bargaining systems, and a focus on full employment in macroeconomic policy.
4. Rebuilding the Social Wage
Charlie Joyce (Researcher, Carmichael Centre)
Joyce revisits the concept of the social wage—public services and supports as a cornerstone of shared prosperity. He shows how rebuilding and expanding the social wage can raise living standards, promote inclusion, and restore trust in democratic institutions.
The Investment and Inclusion series is a vital contribution to the national conversation on inequality and economic justice. These commentaries illuminate what’s gone wrong—and, crucially, how we can fix it. This collection is essential reading for policymakers, advocates, and all Australians interested in a fairer economic future.
Coming June 2025
A publication containing more of the contributions from the symposium will be released in June 2025.