Our pre-pandemic dog days are our destination once more unless we break sharply with the policies and political culture of the early 21st century
Australia’s economy performed poorly for most of its citizens in the seven years from the China resources boom to the pandemic. I call these years from 2013 to 2019 the dog days.
Unemployment and underemployment remained stubbornly high – in the later years, well above the rates in developed countries that suffered greater damage from the 2008–09 global financial crisis. Wages stagnated. Productivity and output per person grew more slowly than in the United States, or Japan, or the developed world as a whole.