Australian policymakers criticized for relying on population growth instead of investment

Renowned macroeconomist Gerard Minack criticizes Australian policymakers for relying on population growth instead of increased investment to grow the economy. He argues that the chronic lack of investment in infrastructure relative to population growth has negatively impacted living standards and productivity.

Minack suggests that Australia needs to devote about 6.6% of GDP to investment to maintain steady capital per person, but the current investment is less than half of that.

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