The Australia Institute Feed Items

From our CEOs – with Richard Denniss

Carbon offsets are the trickle-down economics of climate policy. Spoiler, they don’t work.

For decades Australians have been told the best way to help those with the least is to give tax cuts to those with the most. The benefits of rich people spending money on themselves would, we were told, trickle down. Eventually.

Likewise, we’ve been told that instead of investing in high quality public services we should cut taxes, privatise services and trust that market forces would solve our problems. Spoiler, it didn’t work as promised. But to be fair, neoliberalism did deliver enormous profits, record CEO pay and expensive housing.

Just this week NSW Greens Senator David Shoebridge wrote a scathing critique of the divide and conquer strategy of neoliberalism, describing how those with wealth and power are “shamelessly and effectively wielding their wealth to make us fight each other instead of them”. He asks the key question ‘How did we get here?’ His answer? “Decades of privatising public assets”.

Which brings me to recent calls for further privatisation of nature, or as former Environment Minister Tanya Plibersek put it, the need for Australia to become the global “Green Wall St”.

We hosted the 2026 Hugh Saddler Memorial Lecture with former ACT Greens leader Shane Rattenbury, discussed the war in Gaza with former Human Rights Commissioner Chris Sidoti on After America, and more!

Here are just a few of the things that happened in August!

The post August 2026 Media Highlights appeared first on The Australia Institute.

On this episode of Dollars & Sense, Greg gets triggered by the growth figures, before he and Elinor discuss how the states and territories have missed out on a lazy quarter-trillion and why access to specialist healthcare is slipping out of reach for many Australians.

This discussion was recorded on Thursday 3 September 2026.

More Fool Me: How the gas industry tricked Australia by Richard Denniss, the latest Vantage Point essay from Australia Institute Press, is available now.

Use the code ‘FOOLME’ on a four-edition Vantage Point subscription to receive a free copy of Richard’s book, Econobabble.

Host: Greg Jericho, Chief Economist, the Australia Institute // @grogsgamut

Host: Elinor Johnston-Leek, Senior Content Producer, the Australia Institute // @elinorjohnstonleek

Show notes:

The GST was launched in July 2000, with then Treasurer Peter Costello declaring it a solution to states and territories’ seemingly endless battle to fund essential services like hospitals, schools, police and roads.

“Every dollar raised by (the) GST is paid to the state and territory governments,” Mr Costello pledged.

“It is the money that will provide the schools, the hospitals, the police, and the roads of the future.

“From 1 July they have a revenue base that grows in line with the economy. It will provide a secure base to fund their services.”

But the new analysis shows that not only was that initial pledge hundreds of billions of dollars short of the mark, the current cost of-living crisis is making things even worse.

The report calculates that if the GST had grown at the same pace as the economy – as promised – states and territories would have more than $120 billion to spend on essential services over the forward estimates.

“When it comes to the GST, states and territories have been sold a pup,” said Matt Grudnoff, Senior Economist at The Australia Institute.

“The GST has failed every Australian who’s had to wait for an ambulance or essential health care.

“It’s failed every child who’s been squashed into a double classroom because their school can’t find or afford a replacement teacher.

“It’s failed anyone who’s suffered because a shortage of police.

On this episode of Follow the Money, Josh Bornstein and Skye Predavec join Ebony Bennett to discuss Australia’s scandal-plagued big consultancies, the impact of governments’ “orgy of outsourcing” to these firms, and why breaking up the ‘big four’ is the best way to prevent future misconduct.

This episode was recorded on Wednesday 2 September.

More Fool Me: How the gas industry tricked Australia by Richard Denniss, the latest edition in the Vantage Point series, is available now.

Use the code ‘FOOLME’ on a four-edition Vantage Point subscription to receive a free copy of Richard’s book, Econobabble.

Guest: Josh Bornstein, Director, Corporate Regulation, the Australia Institute // @joshbornstein

Guest: Skye Predavec, Researcher, the Australia Institute // @skyelark

Host: Ebony Bennett, Deputy Director, the Australia Institute // @ebonybennett

Show notes:

On this episode of After America, Allan Behm and Dr Emma Shortis discuss 75 years of the ANZUS treaty, the Trump administration’s assault on international law, and what confident, capable Australian foreign policy could look like.

This episode was recorded Friday 28 August.

New Game, New Rules: A foreign policy for dystopian times by Allan Behm is available now from Australia Institute Press for $19.95.

Guest: Allan Behm, Special Advisor, International & Security Affairs, the Australia Institute

Host: Emma Shortis, Director, International & Security Affairs, the Australia Institute // @emmashortis

Show notes:

ANZUS and Australia’s Security by Allan Behm, the Australia Institute (July 2020)

After America: Australia and the new world order by Emma Shortis, Australia Institute Press (May 2025)

From our CEOs – with Leanne Minshull

This past sitting fortnight the core business of government was the government outsourcing its business. The issues were different, the outcome the same – the abrogation of its responsibility to care for Australians and protect our environment.

After lengthy negotiations with the LNP, changes to the National Disability Insurance Scheme (NDIS) passed through the Senate. For months now the government has told us the NDIS is open to exploitation from providers, the cost has exploded and it’s in danger of losing its social license. But the key question about the NDIS has been entirely absent from our national debate – is a market model the best way to deliver essential human support?

If the answer to that question is no, the scheme will never be fixed and will likely lurch from one review to the next. The NDIS currently supports 770,000 Australians living with disability and we need to get it right, fast.

Protection of forests was also on the privatising agenda, with the Nationals moving to disallow the government’s plan to use carbon offsets in a circuitous attempt to protect publicly owned native forests. Supporters of the Albanese Government scheme claim that putting the carbon held public native forests into the marketplace is the best way to protect them. I remember similar arguments around the Murray Darling Basin when the water flowing through the mighty Murray was put into a trading system. It didn’t end well.

The Productivity Commission is a government-funded economic think tank that’s meant to give independent advice about how to make the Australian economy work better. On this episode of What’s the Point?, Richard Denniss discusses whether it is fit for purpose.

Host: Richard Denniss, co-Chief Executive Officer, the Australia Institute //@richarddenniss

Host: Anna Chang, Managing Editor, The Point // @annachang

Climate Integrity Summit 2026 livestream tickets.

Order More Fool Me: How the gas industry tricked Australia by Richard Denniss, the latest Vantage Point essay from Australia Institute Press.

Show notes:

I want to see the Productivity Commission abolished – and even I think Labor’s attack on it was unfair | The Point

Theme music: Blue Dot Sessions

But those jetting off to a European or Asian summer holiday this year were in for a rude shock. Extreme heat, fuelled by climate change, is sucking the joy out of summer for everyone, everywhere.

Summer used to be a time for Australians getting out into nature, heading to the beach, going camping, hiking or fishing, but extreme temperatures and weather are increasingly making these leisure activities deeply unpleasant, if not dangerous. And while extreme heat obviously affects the quality of life for locals, it’s also having an impact on the tourism industry both here and overseas.

New research from Charles Darwin University shows extreme heat is altering when, where and how we travel. It found one-fifth of Australians surveyed had changed their most recent holiday because of weather, including 8 per cent who had been affected by fires, floods or storms, 6 per cent who had been affected by heavy rain, and 6 per cent due to impending hot weather.

“On top of this, a third of those surveyed had decided against going to holiday destinations they considered too hot, such as Dubai or northern Australia. We understand this represents the first empirical evidence that Australians are altering their travel patterns due to heat,” said the researchers.

On this episode of Dollars & Sense, Greg and Angus discuss the carve-out for Queensland and Northern Territory data centres that’ll allow them to run off coal and gas, the skyrocketing profits of some of Australia’s biggest companies, and the east coast vs west coast beef over GST revenue.

This discussion was recorded on Thursday 27 August 2026.

More Fool Me: How the gas industry tricked Australia by Richard Denniss, the latest Vantage Point essay from Australia Institute Press, is available now.

Use the code ‘FOOLME’ on a four-edition Vantage Point subscription to receive a free copy of Richard’s book, Econobabble.

Host: Greg Jericho, Chief Economist, the Australia Institute // @grogsgamut

Host: Angus Blackman, Executive Producer, the Australia Institute // @AngusRB

Show notes:

On this episode of Follow the Money, Maiy Azize and Matt Grudnoff join Ebony Bennett to discuss how the government’s changes to capital gains tax and negative gearing are allowing more first-homebuyers to enter the market, the data revealing that migration isn’t the cause of the housing crisis, and the dire situation facing Australian renters.

This episode was recorded on Tuesday 25 August.

More Fool Me: How the gas industry tricked Australia by Richard Denniss, the latest edition in the Vantage Point series, is available now.

Use the code ‘FOOLME’ on a four-edition Vantage Point subscription to receive a free copy of Richard’s book, Econobabble.

Guest: Maiy Azize, Chair, Everybody’s Home & Deputy Director, Anglicare Australia // @maiyazize

Guest: Matt Grunoff, Senior Economist, the Australia Institute // @mattgrudnoff

Host: Ebony Bennett, Deputy Director, the Australia Institute // @ebonybennett

Show notes:

On this episode of After America, Chas Licciardello joins Dr Emma Shortis to discuss the latest from the midterm primaries, the “civil war” between democratic socialist and establishment Democrats, and why Georgia Senator Jon Ossoff has MAGA rattled.

This episode was recorded Thursday 20 August.

Get your tickets for the Melbourne launch of More Fool Me: how the gas industry tricked Australia by Richard Denniss at Cinema Nova in Melbourne on Tuesday 25 August.

Guest: Chas Licciardello, co-host of PEP with Chas and Dr Dave & the ABC’s Planet America

Host: Emma Shortis, Director, International & Security Affairs, the Australia Institute // @emmashortis

Show notes:

New Game, New Rules by Allan Behm, Australia Institute Press (August 2026)

Shorter America: They’re running?; Oh my god these men (cont.); The weight of America by Emma Shortis, The Point (August 2026)

On this episode of What’s the Point?, Richard Denniss explains how the crossbench works and the politics of deal-making in federal parliament.

This episode was recorded on Friday 21 August.

More Fool Me: How the gas industry tricked Australia by Richard Denniss, the latest Vantage Point essay from Australia Institute Press, is available now.

Use the code ‘FOOLME’ on a four-edition Vantage Point subscription to receive a free copy of Richard’s book, Econobabble.

Read more on The Point.

Host: Richard Denniss, co-Chief Executive Officer, the Australia Institute // @richarddenniss

Host: Anna Chang, Managing Editor, The Point // @annachang

Show notes:

Climate Integrity Summit 2026, the Australia Institute

National Gambling Toll, the Australia Institute

It also questions the RBA’s apparent obsession with keeping wages low.

The research by Chief Economist Greg Jericho has found that using the Reserve Bank’s own predictions, it will take workers until 2037 to get back to where they were at the end of the COVID pandemic.

The analysis highlights the RBA’s repeated warnings about the dangers of wage growth, even though wages are stagnant, yet prices and corporate profits are soaring.

It also reiterates that it’s profits to blame for surging inflation, not consumer spending, even though consumers have been punished for inflation with repeated interest rate rises.

The analysis reveals that governments are also to blame for stalling wages, with many imposing unfair and unnecessary caps on public service wages, blatantly offering pay rises below inflation.

“People understand that, in very broad terms, the Reserve Bank has put up interest rates in response to high inflation,” said Greg Jericho, Chief Economist at The Australia Institute.

“But what many don’t realise is that the RBA seems to be obsessed with keeping wages down.

“In a recent meeting, Michele Bullock warned of ‘higher wage increases that will feed through into business’.

“What makes that comment even more extraordinary, is that it came immediately after the worst quarter of wage growth in four and a half years.

On this episode of Dollars & Sense, Greg and Elinor discuss another quarter of no “wage-price spiral”, plus the passage of massive NDIS cuts and gambling legislation through parliament.

This discussion was recorded on Thursday 20 August 2026.

If this episode raised issues for you, you can call the National Gambling Helpline on 1800 858 858 for free, professional and confidential support 24 hours a day, 7 days a week. Or visit Gambling Help Online at www.gamblinghelponline.org.au.

If you or anyone you know needs help, you can contact Lifeline on 13 11 14 or online at www.lifeline.org.au.

More Fool Me: How the gas industry tricked Australia by Richard Denniss, the latest Vantage Point essay from Australia Institute Press, is available now. Use the code ‘FOOLME’ on a four-edition Vantage Point subscription to receive a free copy of Richard’s book, Econobabble.

Host: Greg Jericho, Chief Economist, the Australia Institute // @grogsgamut

Dr Richard Denniss, Australia Institute co-CEO and author of More Fool Me: How the gas industry tricked Australia, joins Ebony Bennett to discuss why Australia gives away gas to multinational corporations and why similarly dud deals could happen with Big Tech and other industries if we don’t learn lessons from the past.

This episode was recorded on Tuesday 18 August.

More Fool Me: How the gas industry tricked Australia by Richard Denniss, the latest edition in the Vantage Point series, is available now.

Use the code ‘FOOLME’ on a four-edition Vantage Point subscription to receive a free copy of Richard’s book, Econobabble.

Guest: Richard Denniss, co-Chief Executive Officer, the Australia Institute // @richarddenniss

Host: Ebony Bennett, Deputy Director, the Australia Institute // @ebonybennett

Show notes:

On this episode of After America, Dr Emma Shortis and Angus Blackman discuss concerning reports about conditions on board the USS Abraham Lincoln, the impact of the Trump administration’s cuts to USAID, and the speculation over whether Alexandria Ocasio-Cortez will seek the Democratic presidential nomination.

This episode was recorded Friday 14 August.

If you or anyone you know needs help, you can contact Lifeline on 13 11 14 or online at www.lifeline.org.au.

Get your tickets for the Melbourne launch of More Fool Me: how the gas industry tricked Australia by Richard Denniss at Cinema Nova in Melbourne on Tuesday 25 August.

Host: Emma Shortis, Director, International & Security Affairs, the Australia Institute // @emmashortis

Host: Angus Blackman, Executive Producer, the Australia Institute // @AngusRB

Show notes:

New Game, New Rules by Allan Behm, Australia Institute Press (August 2026)

In recent years, a series of scandals have exposed serious ethical and governance failures in the big four consulting and accounting firms.

These include PwC’s tax leaks scandal in 2023 and KPMG’s audit whistleblowing scandal this year.

“ Conflicts of interest are baked into the big four by virtue of their structure, engendering an exploitative and unethical culture,” said Josh Bornstein, Director of Corporate Regulation at The Australia Institute.

“A structural problem demands a structural solution. Breaking up the big four will dramatically reduce the incidence of conflicts of interest and misconduct.”

The submission to Treasury’s inquiry into the regulation of accounting, auditing, and consulting firms in Australia also argues that the big four are poorly regulated and should be governed to the same standard as corporations.

“The big consulting firms look and act like companies, albeit badly behaved companies. It’s time to tax and regulate them like companies”.

“ When big business is out of control and causing harm, voters expect their politicians to step in and say enough is enough, not just work around the edges.

“Breaking up the big consulting firms is the only way to restore trust and prevent future scandals.”

Jetstar recently announced it will begin charging fees for passengers who use overhead cabin baggage. You’re probably seeing ads on the streaming platform you subscribe to, when there used to be none. Self-checkouts have largely replaced people at Coles and Woolies. And does it feel to you like we’re being forced to subscribe to absolutely everything now?

I get enraged that I am now forced to watch ads on Netflix and Prime, when the whole point of streaming was to avoid ads in the first place. I am fortunate enough to afford multiple streaming services, but I flat out refuse to pay more for an ad-free experience.

I used to get as part of my basic subscription. It’s infuriating. But let’s face it; I’ll probably pay for overhead baggage on Jetstar because it’s convenient.

It feels like no matter where consumers turn now, they are paying the same or more and getting less product or worse service. In recent years, particularly during COVID-19, many companies engaged in what’s known as ‘shrinkflation’, where the size of the product, like a bar of chocolate, shrinks but the price stays the same.

Excessive corporate profits have been the major driver behind the rise in inflation we’ve all been experiencing in recent years, according to Australia Institute research and the OECD. The Reserve Bank has been punishing households with interest rate rises to combat inflation they didn’t cause.

On this episode of What’s the Point?, Richard Denniss explains the lack of strong gambling reform, and why gambling losses continue to climb despite widespread calls for change.

Host: Richard Denniss, co-Chief Executive Officer, the Australia Institute // @richarddenniss

Host: Anna Chang, Managing Editor, The Point // @annachang

Climate Integrity Summit 2026 tickets.

Order More Fool Me: How the gas industry tricked Australia by Richard Denniss, the latest Vantage Point essay from Australia Institute Press.

Show notes:

National Gambling Toll

Online wagering companies and company tax in Australia

Sarah Hanson-Young on The Point

Three major gambling companies — Tabcorp, bet365 (Hillside), and Pointsbet — won $1.3 billion dollars from Australian gamblers in 2023-24, yet paid zero company tax.

bet365 (Hillside) and Pointsbet have never paid company tax in Australia despite winning over $2 billion. bet365 lists numerous subsidiaries in secrecy jurisdictions such as Delaware, Malta and Alderney in the English Channel.
These findings underscore the Murphy Review’s call for a federal levy on online wagering revenues to fund gambling harm reduction measures.

Key points:

• The five largest online wagering companies won $5.4 billion in 2023-24, but reported just $0.4 billion in profit (taxable income) and paid $0.1 billion in company tax, just 2% of their winnings.
• The big five spent at least $600 million on advertising and promotion in this period, six times more than they paid in company tax.
• These companies paid at most $700 million in state gambling taxes, some of which is earmarked for horse racing industry bodies that “invest” in promoting further wagering.
• These companies spent around $720 million on fees to sporting organisations, the vast majority of which goes to the horse racing industry. Media reports suggest the AFL and NRL collect just $50 million each per year.

“The Murphy Review recommended a federal levy on online betting and now we know why,” said Rod Campbell, Research Director at The Australia Institute.

The report reveals there is little evidence to support claims of fraud within the NDIS by organised crime.

It also found the overriding premise of cuts being required to ensure the ongoing sustainability of the NDIS is false, given a 25% tax on gas exports would, over the next four years, raise $31.8 billion more than the cuts to the NDIS.

That is more than enough to cover the cuts, while the level of fuel tax credits to be provided to mining companies over the next four years is equivalent to 61% of the proposed cuts.

Findings include:

• Over the next four years a 25% tax on gas exports would raise $31.8 billion more than the total of the cuts to the NDIS.
• Over the next four years the budget projects to spend $46 billion on providing fuel tax credits, which is $10.8 billion more than the NDIS cuts.
• $22bn of the fuel tax credits are expected to go to the mining industry.

“The cuts to the NDIS are deep and brutal, revealing in a truly stark fashion what happens when a government chooses the profits of gas companies over the lives of Australians” said Greg Jericho, Chief Economist at The Australia Institute.

“Treasury modelling suggests the cuts will lead to a net 160,000 fewer people on the scheme – due to 240,000 people leaving the scheme and 80,000 new people coming into the scheme.

On this episode of Dollars & Sense, Greg and Elinor discuss why superannuation could be a better way to control inflation than interest rates, the continued hand-wringing about house prices falling a tiny bit after skyrocketing for years, and why Andrew Bragg has communism on the brain.

This discussion was recorded on Wednesday 12 August 2026.

Pre-order More Fool Me: How the gas industry tricked Australia by Richard Denniss, the latest Vantage Point essay from Australia Institute Press. Use the code ‘FOOLME’ on a four-edition Vantage Point subscription to receive a free copy of Richard’s book, Econobabble.

Host: Greg Jericho, Chief Economist, the Australia Institute // @grogsgamut

Host: Elinor Johnston-Leek, Senior Content Producer, the Australia Institute // @elinorjohnstonleek

Show notes:

Isn’t it amazing what a policy that actually tackles the cause of outrageous house prices can do? by Greg Jericho, Guardian Australia (August 2026)

Andrew Wilkie MP, Independent Member for Clark, joins the Australia Institute’s Noah Schultz-Byard to reflect on the government’s gambling reforms, making polluters pay for the damage they do to the climate, and the state of Australian politics.

This episode was recorded live as part of the Australia Institute’s webinar series on Wednesday 5 August.

If this episode raised issues for you, you can call the National Gambling Helpline on 1800 858 858 for free, professional and confidential support 24 hours a day, 7 days a week. Or visit Gambling Help Online at www.gamblinghelponline.org.au.

If you or anyone you know needs help, you can contact Lifeline on 13 11 14 or online at www.lifeline.org.au.

Federal Parliament should disallow a controversial new method for making carbon credits, according to a working paper released by the Australia Institute today.

The working paper by University College London Associate Professor Fergus Green takes aim at a  proposal by the NSW government to sell carbon credits in return for creating a national park to protect koala habitat.

The Senate will vote on a disallowance motion on the “Improved Native Forest Management” (INFM) on August 18, put forward by the National Party.

The Australia Institute has also released new polling showing overwhelming public support to protect koala habitat regardless of whether carbon credits are involved.

Australians overwhelmingly (82%) say that governments have an obligation to protect koala habitats (3% think governments have this obligation only if they are paid to do so)

• This includes three in four Liberal (77%) and One Nation (73%) voters.
• Most Australians (59%) agree that protecting forests should not be used to justify continued fossil fuel pollution. (25% disagree; 17% don’t know)
• Most Australians (57%) support the Minns Government’s decision to ban coal and gas companies from buying carbon offsets from the Great Koala National Park. (23% oppose; 20% don’t know)

“Australia’s carbon offset system is already plagued with integrity problems, and this method takes it from bad to worse,” said Louise Morris, Head of Fossil Fuel Transition at The Australia Institute.

‘Nice forest you’ve got there. It’d be a shame if somebody messed with it.’

This isn’t a line from a mobster movie, it’s effectively what the NSW government is saying to the koalas and people of NSW.

The NSW government is proposing to make a Great Koala National Park to protect forests in the north east of the state. In fact, making the Park has been NSW Labor policy for more than a decade, but it has recently taken on a new twist.

The Minns government now says that the koala park will happen if, and only if, it can take the rights to the carbon in the trees to sell on the carbon market.

If this sounds dodgy, that’s because it is. The NSW Labor government first promised to make this national park as far back as 2015, without selling carbon offsets. They promised it again in 2023. Now they say they will need some protection money for those trees.

Demanding payment to do something you had already promised to do is not good public policy. In the language of the carbon market, it does not provide “additionality”.

It is, in plain language, a shakedown.

And while the person doing the standover work is the NSW Premier, the mob bosses are the big polluters – coal and gas mines.

It is these industries that need, not only carbon offsets, but specifically carbon offsets in NSW.

Human rights lawyer Chris Sidoti joins Dr Emma Shortis to discuss the UN Independent International Commission of Inquiry’s findings of Israel’s genocide in Gaza, the Trump administration’s attacks on the institutions of international law, and how the Australian government could act in support of a genuinely rules-based international system.

This episode was recorded Friday 7 August.

More Fool Me: How the gas industry tricked Australia by Richard Denniss, the latest Vantage Point essay from Australia Institute Press, is available now. Use the code ‘FOOLME’ on a four-edition Vantage Point subscription to receive a free copy of Richard’s book, Econobabble.

Guest: Chris Sidoti, Commissioner, UN Independent International Commission of Inquiry on the Occupied Palestinian Territory, including East Jerusalem, and Israel

Host: Emma Shortis, Director, International & Security Affairs, the Australia Institute // @emmashortis

Show notes:

On this episode of What’s the Point?, Richard Denniss explains why electric vehicles have surged in popularity, and why EVs should play a central role in energy security.

Host: Richard Denniss, co-Chief Executive Officer, the Australia Institute // @richarddenniss

Host: Anna Chang, Managing Editor, The Point // @annachang

Climate Integrity Summit 2026 tickets.

Order More Fool Me: How the gas industry tricked Australia by Richard Denniss, the latest Vantage Point essay from Australia Institute Press.

Show notes: https://thepoint.com.au/opinions/260411-an-economists-advice-on-why-ev-range-anxiety-is-overrated

Theme music: Blue Dot Sessions

A new report from The Australia Institute has found young Australians’ mental health has declined sharply.

The decline coincides with increased economic pressure faced young Australians, especially around housing, education, health costs and income support.

Since 2001, tertiary education fees have increased by 150%, rent and out-of-pocket medical expenses have doubled, while minimum wage rose by 19% and Youth Allowance by just 10%.

Key points:

• The proportion of young people reporting a mental health disorder rose from 26.4% in 2007 to 38.8% in 2022.
• The decline among young people is far higher than that reported by older cohorts.
• Financial stress and labour-market insecurity are linked to poorer mental health.
• Clinical services alone cannot fix preventable economic stress; Improving economic conditions is a far more efficient and effective way to protect young people’s mental health.

The report points to evidence linking financial stress with anxiety, depression and other mental health challenges, and notes that unemployment, underemployment, job insecurity and low job control are associated with poorer mental health.

“Young Australians are not just feeling a bit worse — the data show a sustained and substantial decline in mental health,” said Luke Slawomirski, Senior Postdoctoral Research Fellow at The Australia Institute.  

“Australia’s youth mental health crisis is not occurring in an economic vacuum.

On this episode of Dollars & Sense, Greg and Elinor go back to the basics of inflation, living costs and interest rates to show that how they interact really isn’t all that basic.

This discussion was recorded on Thursday 6 August 2026.

More Fool Me: How the gas industry tricked Australia by Richard Denniss, the latest Vantage Point essay from Australia Institute Press, is available now. Use the code ‘FOOLME’ on a four-edition Vantage Point subscription to receive a free copy of Richard’s book, Econobabble.

Host: Greg Jericho, Chief Economist, the Australia Institute // @grogsgamut

Host: Elinor Johnston-Leek, Senior Content Producer, the Australia Institute // @elinorjohnstonleek

Show notes:

On this episode of Follow the Money, Leanne Minshull and Rod Campbell join Glenn Connley to discuss dodgy carbon credits, the Great Koala National Park in New South Wales, the federal government’s upcoming review of the Safeguard Mechanism, and the demise of Climate Active.

This episode was recorded Tuesday 4 August.

More Fool Me: How the gas industry tricked Australia by Richard Denniss, the latest Vantage Point essay from Australia Institute Press, is available now. Use the code ‘FOOLME’ on a four-edition Vantage Point subscription to receive a free copy of Richard’s book, Econobabble.

Get your tickets for the Australia Institute’s Climate Integrity Summit 2026 at the Parliament of New South Wales on Tuesday 15 September.

Guest: Leanne Minshull, co-Chief Executive Officer, the Australia Institute // @leanneminshull

Guest: Rod Campbell, Research Director, the Australia Institute // @rodcampbell

Linda Robinson, author of Women in Power: Fighting for Democracy in an Age of Authoritarianism, joins Dr Emma Shortis to discuss the misogyny of the Trump administration, how Big Tech enables its spread, and the stark realities facing women in politics.

This episode was recorded Friday 31 July.

1800RESPECT is the national domestic, family and sexual violence counselling, information and support service. Call 1800 737 732, text 0458 737 732, chat online or video call via their website.

More Fool Me: How the gas industry tricked Australia by Richard Denniss, the latest Vantage Point essay from Australia Institute Press, is available now. Use the code ‘FOOLME’ on a four-edition Vantage Point subscription to receive a free copy of Richard’s book, Econobabble.

Guest: Linda Robinson, Senior Fellow for Women and Foreign Policy, Council on Foreign Relations // @lrobinson

Under the PALM (Pacific Australia Labour Mobility) Scheme, workers from nine Pacific Island nations and Timor Leste work in Australian agriculture (doing jobs like fruit picking), food processing (many in abattoirs) and the care sector (aged care).

However, the scheme has been identified as a modern slavery risk because PALM workers are tied to a single employer. Poor living and working conditions, under payment, access to superannuation and proper healthcare have all been identified as problems.

The scheme, which was originally lauded as a win-win for Australia and its Pacific neighbours, is now heavily lopsided in Australia’s favour, with workers forced to hand over a large portion of their earnings in tax and expenses, locked out of Medicare and blocked from changing jobs by their employers, even if things turn bad.

Now, a poll of 2,230 Australia voters, conducted by YouGov, reveals significant support for giving workers the right to change employers if they’re underpaid (68%), not given enough hours (78%) or housed in expensive, overcrowded or substandard accommodation (81%).

66% of respondents support PALM visa holders being given access to Medicare while they are working in Australia.

On this episode of What’s the Point?, Richard Denniss explains the purpose of the Reserve Bank of Australia and whether it’s fulfilling that role.

Host: Richard Denniss, co-Chief Executive Officer, the Australia Institute // @richarddenniss

Host: Anna Chang, Managing Editor, The Point // @annachang

Climate Integrity Summit 2026 tickets.

Pre-order More Fool Me: How the gas industry tricked Australia by Richard Denniss, the latest Vantage Point essay from Australia Institute Press. Use the code ‘FOOLME’ on a four-edition Vantage Point subscription to receive a free copy of Richard’s book, Econobabble.

Theme music: Blue Dot Sessions

Woodside has reported a revenue jump of nearly 30 per cent to $6 billion over the past three months, with the company branded “one of the Australia’s biggest winners” from the war in the Middle East.

Dr Richard Denniss, co-CEO at The Australia Institute, said the soaring war profits of Woodside and other gas exporters was an opportunity for Labor to enact its pledge to get a fair return for Australia’s resources, which is now part of Labor’s Party Policy Platform.

“This week we hear that gas export profits have soared, while just last week Labor declared it would seek a fairer return for Australian gas. What great timing,” said Dr Denniss said.

“Media outlets are describing gas export companies as Australia’s “biggest winners” of the Iran war. This begs the question of who are Australia’s biggest losers?

“Obviously it is Australians who are giving away their gas to multinationals for free while paying higher prices for petrol.”

Australia Institute research shows that if Labor implemented a 25 per cent gas export tax, it would raise $350 million per week at current prices, or $17 billion per year.

“That is enough to cover the fuel excise discount, which ends on Sunday,” Dr Denniss said.

On this episode of Dollars & Sense, Greg and Elinor discuss the better-than-expected inflation figures, the global oversupply of once-in-a-lifetime crises, and what the ominous-sounding ‘global balance sheet’ tells us about wealth on Earth.

This discussion was recorded on Thursday 30 July 2026.

Pre-order More Fool Me: How the gas industry tricked Australia by Richard Denniss, the latest Vantage Point essay from Australia Institute Press. Use the code ‘FOOLME’ on a four-edition Vantage Point subscription to receive a free copy of Richard’s book, Econobabble.

Host: Greg Jericho, Chief Economist, the Australia Institute // @grogsgamut

Host: Elinor Johnston-Leek, Senior Content Producer, the Australia Institute // @elinorjohnstonleek

Show notes:

The shock announcement comes less than a week after the Albanese Government abandoned Climate Active, its long running ‘carbon neutral’ certification scheme.

“Premier Minns’ claim that coal and gas companies should be prevented from buying carbon offsets generated by his Great Koala National Park is a blow for the Albanese government’s failing ‘safeguard mechanism’ and its key client, the fossil fuel industry,” said Dr Richard Denniss, co-CEO at The Australia Institute.

“Today’s announcement by the NSW Premier is an important admission that Australia cannot cancel out the pollution from fossil fuel projects by simply promising to not chop down some trees.

“Chris Minns is admitting what Federal Climate Change Minister Chris Bowen has been denying for years – that it makes no scientific sense to justify new gas and coal mines on the basis that some trees won’t be chopped down.

“The obvious first question is that if the NSW government won’t allow its carbon credits to be used for the sham of fossil fuel offsetting, why should anyone else be allowed to?

“While the NSW government’s attempt to stop coal mines using its koala park credits is welcome, details of their proposal remain scant.

“There is nothing in federal law that prevents any buyer of carbon credits from re-selling them to coal mines, gas frackers or any particular industry.

“Without explaining how this will work, this is just a clumsy state intervention into federal climate policy.

On this episode of Follow the Money, renewable energy entrepreneur Assaad Razzouk joins Australia Institute co-CEO Leanne Minshull to discuss how the war on Iran is accelerating the global shift away from fossil fuels and why Australia risks being left behind.

This episode was recorded Wednesday 8 July.

Pre-order More Fool Me: How the gas industry tricked Australia by Richard Denniss, the latest Vantage Point essay from Australia Institute Press. Use the code ‘FOOLME’ on a four-edition Vantage Point subscription to receive a free copy of Richard’s book, Econobabble.

Guest: Assaad Razzouk, renewable energy entrepreneur and host of The Angry Clean Energy Guy podcast // @assaadrazzouk

Host: Leanne Minshull, co-Chief Executive Officer, the Australia Institute // @leanneminshull

Show notes:

The Angry Clean Energy Guy with Assaad Razzouk

Dr Emma Shortis reflects on Trump’s “joke” about a third term in office at the White House Correspondents’ Dinner, before If You’re Listening host Matt Bevan returns to the show to discuss the midterms and Trump’s finances.

This episode was recorded Friday 24 July.

Pre-order More Fool Me: How the gas industry tricked Australia by Richard Denniss, the latest Vantage Point essay from Australia Institute Press. Use the code ‘FOOLME’ on a four-edition Vantage Point subscription to receive a free copy of Richard’s book, Econobabble.

Guest: Matt Bevan, journalist and host of If You’re Listening, Australian Broadcasting Corporation // @mattbevan

Host: Emma Shortis, Director, International & Security Affairs, the Australia Institute // @emmashortis

Show notes:

Where EXACTLY is Trump’s money coming from?, If You’re Listening, ABC News (July 2026)

On this episode of What’s the Point?, Richard Denniss explains the “fake fight” over nuclear power in Australia and how the gas industry benefits from the nuclear distraction.

This episode was recorded on Friday 17 July.

Pre-order More Fool Me: How the gas industry tricked Australia by Richard Denniss, the latest Vantage Point essay from Australia Institute Press. Use the code ‘FOOLME’ on a four-edition Vantage Point subscription to receive a free copy of Richard’s book, Econobabble.

Read more on The Point.

Host: Richard Denniss, co-Chief Executive Officer, the Australia Institute // @richarddenniss

Host: Anna Chang, Managing Editor, The Point // @annachang

Show notes:

Climate Integrity Summit 2026, the Australia Institute

However, just as housing price growth decoupled from wage growth in recent decades, new research shows that real wages have not kept up with productivity growth.

So, who is getting the benefit?

Firstly, it’s important to understand productivity. Productivity is getting more output from the same number of inputs, or the same output from a reduced number of inputs. For example, if workers are producing thingamajigs a new innovative way and now make more thingamajigs with the same hours of work, then productivity goes up.

This increase in thingamajigs is sold, and then that the extra money made is then supposed to flow to workers in higher living standards. Productivity has been described as “the engine of living standards”, and the Productivity Commission says the more productive the economy is, the more workers are supposed to enjoy either higher wages, lower prices, or by working less and having more free time.

The Productivity Commission claims that outside of mining and agriculture, productivity has been flowing to higher real wages. But there is new evidence that the Productivity Commission is wrong.

On this episode of Dollars & Sense, Greg returns! He and Elinor discuss the ALP National Conference in Adelaide, the economic impact of the ongoing American war on Iran, and the failures of Australia’s privatised employment services system.

This discussion was recorded on Wednesday 22 July 2026.

Pre-order More Fool Me: How the gas industry tricked Australia by Richard Denniss, the latest Vantage Point essay from Australia Institute Press. Use the code ‘FOOLME’ on a four-edition Vantage Point subscription to receive a free copy of Richard’s book, Econobabble.

Host: Greg Jericho, Chief Economist, the Australia Institute // @grogsgamut

Host: Elinor Johnston-Leek, Senior Content Producer, the Australia Institute // @elinorjohnstonleek

Show notes:

It would also bring down domestic gas prices for Australian households and businesses.

The Australian Labor Party will reportedly include a new tax regime for the gas export industry in its party platform today at the ALP National Conference in Adelaide.

According to the Nobel Prize winning economist, Professor Joseph Stiglitz, it is a ‘no brainer’ for Australia to tax its gas exports.

“It is great news that the Labor Party seems on the verge of adopting this simple policy which will be good for the Australian economy,” said Dr Richard Denniss, co-CEO of The Australia Institute.

“It will help restore faith in Australia’s democracy among the growing number of Australians who think their governments are no longer willing to stand up to foreign companies.

“Apart from having huge volumes of gas, Australia has a huge opportunity to finally introduce a gas policy which benefits all Australians.

“When Labor was re-elected last year, the Prime Minister spoke about ‘progressive patriotism’, with policies that do things ‘the Australian way’.

“He now has an opportunity to put those words into action, with a policy that would be hugely popular and benefit millions of Australians.

“Tax policy doesn’t have to be complicated to be effective. In fact, the more complicated it is, the more it can be exploited.

On this episode of Follow the Money, Dr Emma Shortis joins Glenn Connley to discuss the upcoming midterm elections in the United States, how the Trump administration has been chipping away at the guardrails of American democracy, and whether the Australian government is prepared for the possibility of disputed elections in its major alliance partner.

This episode was recorded Tuesday 21 July.

Guest: Emma Shortis, Director, International & Security Affairs, the Australia Institute // @emmashortis

Host: Glenn Connley, Senior Media Advisor, the Australia Institute // @glennconnley

Show notes:

After America: Australia and the new world order by Emma Shortis, Australia Institute Press (May 2025)

Trump administration chips away at independent media, faith in democracy, After America, the Australia Institute (July 2026)

On this episode of After America, New Zealand-based journalist Anna Fifield joins Dr Emma Shortis to discuss the American media during Trump’s second term, views of the United States and China in New Zealand, and what the Australian government can learn from Kiwi diplomacy.

This episode was recorded on Friday 17 July.

Pre-order More Fool Me: How the gas industry tricked Australia by Richard Denniss, the latest Vantage Point essay from Australia Institute Press. Use the code ‘FOOLME’ on a four-edition Vantage Point subscription to receive a free copy of Richard’s book, Econobabble.

Guest: Anna Fifield, New Zealand-based independent journalist and foreign affairs analyst // @annafifield

Host: Emma Shortis, Director, International & Security Affairs, the Australia Institute // @emmashortis

Show notes:

Shorter America: How to steal an election; the US in the World; New and old friends by Emma Shortis, The Point (July 2026)

On this episode of What’s the Point?, Richard Denniss discusses how the Federal Government’s new carbon credits method for ‘protecting’ native forests will allow fossil fuel companies to greenwash their climate pollution and expand coal and gas production.

This episode was recorded on Friday 10 July.

Host: Richard Denniss, co-Chief Executive Officer, the Australia Institute // @richarddenniss

Host: Anna Chang, Managing Editor, The Point // @annachang

Show notes:

Climate Integrity Summit 2026 tickets: https://events.humanitix.com/sydney-climate-integrity-summit-2026?c=website

The Point: https://thepoint.com.au/ 

We’d love to hear your feedback on this series, so send in your questions, comments or suggestions for future episodes to podcasts@australiainstitute.org.au. Subscribe to What’s the Point? with Richard Denniss on YouTube, Apple Podcasts, Spotify or wherever you get your favourite podcasts.

Productivity growth is supposed to be the key to boosting wages and living standards in the economy. However, just as housing price growth decoupled from wage growth in recent decades, new research shows that real wages have not kept up with productivity growth.

So, who is getting the benefit?

Firstly, it’s important to understand productivity. Productivity is getting more output from the same number of inputs, or the same output from a reduced number of inputs. For example, if workers are producing thingamajigs a new innovative way and now make more thingamajigs with the same hours of work, then productivity goes up.

This increase in thingamajigs is sold, and then that the extra money made is then supposed to flow to workers in higher living standards. Productivity has been described as “the engine of living standards”, and the Productivity Commission says the more productive the economy is, the more workers are supposed to enjoy either higher wages, lower prices, or by working less and having more free time.

The Productivity Commission claims that outside of mining and agriculture, productivity has been flowing to higher real wages. But there is new evidence that the Productivity Commission is wrong.

The Wrap with Matt Grudnoff

The reaction to the slowdown in house prices in some parts of Australia makes me wonder, do people actually want affordable housing?

Some in the media have lost their minds at the very idea that house prices might not continue increasing. But rapidly rising house prices are the opposite of affordable housing.

The tax changes in the budget are likely not the only thing that is weighing on house prices. There have also been three interest rate rises this year. But the budget changes, which got rid of negative gearing for investors buying existing housing and made the capital gains tax discount less generous, are likely to be an important part of the slowdown.

Of course, there are predictions that prices will fall further. They range from almost no drop to about 10%.

Is this going to cause economic ruin?

Photo: AAP Image/Dean Lewins

Read more >

— Matt Grudnoff is Senior Economist at The Australia Institute

On this episode of Dollars & Sense, Matt Grudnoff joins Elinor to discuss Anthony Albanese’s speech on artificial intelligence, lessons for data centre regulation from Australia’s experience with the gas industry, Barnaby Joyce’s vision for the Reserve Bank, and Matt’s guide to voodoo.

This discussion was recorded on Thursday 16 July 2026.

Pre-order More Fool Me: How the gas industry tricked Australia by Richard Denniss, the latest Vantage Point essay from Australia Institute Press. Use the code ‘FOOLME’ on a four-edition Vantage Point subscription to receive a free copy of Richard’s book, Econobabble.

Host: Matt Grudnoff, Senior Economist, the Australia Institute // @mattgrudnoff

Host: Elinor Johnston-Leek, Senior Content Producer, the Australia Institute // @elinorjohnstonleek

Show notes:

The scandal that has swamped KPMG in the past month has many moving parts, but it can all be summarised in one earthy Australian expression – “same s–t, different bucket”.

We have seen this show many times before, including in 2022 when it was revealed that PWC worked with the federal government on new business tax plans and then sold secret information about those plans to major corporations to help them avoid paying the new taxes.

Like PWC (PriceWaterhouseCooper), KPMG is a big business that obtains highly sensitive information from its work with major corporations and governments, meaning that conflicts of interest are impossible to avoid.

And like other big businesses, in the absence of an effective deterrent and robust regulation, the pursuit of profit maximisation will inevitably move the business towards doing harm – whether it be to clients, customers, employees, taxpayers, the environment or democracy.

The whistleblower who exposed this KPMG scandal attributed it to the “pursuit of revenue growth at all costs”.

When former High Court judge Kenneth Hayne presided over a royal commission into misconduct in the banking and financial services sector, he had to consider why major banks were engaged in illegal money laundering, charging fees for no service, selling useless insurance to unsuspecting customers and steering poor retirees into high risk dud investments.

The explanation wasn’t complicated. In Haynes words: