The Progressive Productivity Agenda

Andrew Leigh

Australian Economic Review, 2025, vol. 58, issue 4, 317-324

Abstract: Australia's long‐term economic prosperity is fundamentally tied to productivity growth, yet recent decades have seen a pronounced slowdown with significant implications for living standards and intergenerational mobility. This article examines a policy framework that integrates economic efficiency with social equity. It identifies three critical domains for policy intervention: investment in individuals, through enhanced skills, health, and labour market inclusivity; investment in infrastructure, encompassing both physical systems such as housing and digital platforms essential for technological adoption; and investment in institutions, including robust competition policy, regulatory reform, and evidence‐based public administration. Drawing on recent empirical evidence and policy developments, the article proposes that sustained, inclusive productivity growth is not merely an economic objective but a social necessity, one that underpins rising real incomes, reduces inequality and ensures long‐run fiscal sustainability.

Date: 2025
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