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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
Underlying Australia's inflation problem is a historic shift of income from workers to corporate profitsshutterstockShutterstock

The 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...

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