A Review of Lapsis

The increasing precarity of economic life for many people is being reflected in a growing output of film and TV, including the work of Ken Loach (‘Sorry We Missed You’, ‘I, Daniel Blake’), Steven Bognar and Julia Reichert’s 2019 documentary ‘American Factory’, Bong Joon Ho’s Oscar-winning ‘Parasite’ as well as his ‘Snowpiercer’ film and subsequent TV series, the interplanetary class divisions explored by the Syfy Channel’s ‘The Expanse’, and Chloé Zhao’s Oscar-winning ‘Nomadland’. The Centre for Future Work's first film review considers a new entry in this recent canon of art imitating life.

Writer-director Noah Hutton has shrewdly crafted a science-fiction world that closely resembles our own. The premise of the film is that quantum computing has revolutionised the world’s financial markets, further exploding the dominance of the financial industry. The shabby underbelly of this quantum computing revolution is the rise of ‘cabling’ — workers managed by an algorithm, via an app, dragging cables through the woods between one quantum computing node and another.

Read Economist Dan Nahum's review of Lapsis here.


Summary Report: Funding High-Quality Aged Care Services

The Centre for Future Work has prepared a 4-page summary of our recent detailed report on funding needed improvements in aged care services in Australia, in the wake of recommendations from the Royal Commission into Aged Care Quality and Safety.

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Why is Job Quality Worsening?

Over time, insecure work has become more prevalent in the Australian economy. Key drivers of worsening job quality include: decades of economic policies which constructed unemployment “buffers”; insufficient paid work available for all who need it; reductions in the level of unemployment benefits to below-poverty levels, collapse in collective bargaining coverage, and failure to regulate insecure work.

In this update on job insecurity in Australia, Alison Pennington reviews the ongoing erosion of full-time, traditional "good" jobs, growth in COVID-era "gig" work, and outlines how business trends and labour market policies have facilitated both lower worker bargaining power and a dramatic rise in insecure work. 

For more on reducing the incidence and consequences of insecure work, see our recent submission to the Select Committee on Job Insecurity, by Dan Nahum. 


Industrial Policy-Making After COVID-19: Manufacturing, Innovation and Sustainability

As Treasurer during the 1980s, Paul Keating lamented that Australian governments had for decades been allowing the country's sophisticated industrial base to fall apart as unsophisticated raw materials came to dominate the nation's exports and as a result, its economy slipped into developing-world status. Keating's famous warning of Australia's looming 'banana republic' status spurred the Hawke and subsequent Keating Labor governments into action on economic restructuring, which included considering a range of industry policy intervention options to put Australia on a track to advanced, industrial status, as had been the aim of post-war nation-building that helped to institute an advanced manufacturing industrial base in Australia.

But since the 1990s, the 'default' economic and industry policy setting of government has ultimately been to favour resource extraction as our national strength. Even despite the growing threat of climate change and global economic crises that make a shift to 'green' industrial transformation a pathway pursued by many other nations, current Coalition government policy continues to reflect deliberate, calculated emphasis on the extraction and export of raw materials. Australia risks cementing its developing-world economic status if we do not consider important industry policy challenges.

The COVID-19 pandemic has drawn attention to opportunities for Australia to not only rebuild, but reconstruct our economy in a way that capitalises on our national manufacturing potential and their ability to contribute to a sustainable recovery from the economic and social crisis that has culminated in lockdowns and recession. The future development of Australia's manufacturing industry must focus on the opportunities presented by renewable energy to drive innovation, industrial transformation and a green future shaped by a skilled manufacturing workforce.

Researchers from the Centre for Future Work, Mark Dean, Al Rainnie (Centre for Future Work Associate), Jim Stanford and Dan Nahum, have co-authored a new scholarly paper which will be published in the academic journal, the Economic and Labour Relations Review and is currently available as an online-first publication at their website.

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Video: Myth & Reality About Technology, Skills & Jobs

We are constantly told that the world of work is being turned upside down by 'technology': some faceless, anonymous, uncontrollable force that is somehow beyond human control. There's no point resisting this exogenous, omnipresent force. The best thing to do is get with the program... and learn how to program! Acquiring the right skills (usually assumed to be STEM or computer skills) is the best way to protect yourself in this brave new high-tech future.

But what if technology isn't all it's cracked up to be? And what if you invest in learning the current hot coding language, only to see it replaced by something totally different as soon as you graduate?

In this 30-minute video, Centre for Future Work Economist and Director Dr. Jim Stanford takes on several myths related to technology and jobs.

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Preventing Workplace Mental Health Injuries Would Save Billions

Australian society is experiencing an epidemic of mental illness that imposes enormous costs on individuals with poor mental health, their families, and the broader economy. There is no doubt that the stress, isolation and disruption caused by the COVID-19 pandemic has made this crisis even worse.

Unsafe workplaces contribute significantly to the incidence of mental illness and injury. Workplace factors which contribute to mental health problems include unreasonable job demands, exposure to violence and trauma, long or irregular working hours, an absence of worker voice and control, and bullying and harassment.

New research from the Centre for Future Work suggests that by requiring stronger monitoring and prevention measures in Australian workplaces, a significant share of mental illness and injury could be avoided. In addition to reducing the toll of mental illness for workers and their families, these measures would also generate substantial economic and fiscal benefits.

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The Huge Contradiction at the Heart of the Federal Budget

The Commonwealth government has tabled its budget for the 2021-22 financial year. The government is counting on a vigorous and sustained burst of consumer spending by Australian households to drive the post-COVID recovery. Yet the budget itself concedes that the main sources of income to finance expanded consumer spending (namely, wages and income supports) will remain weak or even contract. As shown in the Centre for Future Work's analysis of the budget, these two dimensions of the budget are fundamentally incompatible.

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Commonwealth Has Ample Fiscal Capacity to Implement Aged Care Reforms

Implementing the recommendations of the Royal Commission into Aged Care Quality and Safety will require additional Commonwealth funding of at least $10 billion per year, and there are several revenue tools which the government could use to raise those funds.

That is the conclusion of a new report on funding high-quality aged care released today by the Centre for Future Work at the Australia Institute.

 

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Rage & Optimism as an Activist Economist

Crikey is reclaiming the "angry woman" trope in a new column about what women achieve through rage, passion and determination. In this inspiring and poetic feature with our Senior Economist Alison Pennington, Alison explains how rage about how the economy works (or doesn't work) powers her forceful work as an activist economist.

We are pleased to share the article by Amber Schultz, with kind permission from Crikey media. 

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Senate Committee on Insecure Work

The Senate Select Committee on Job Security was appointed 10 December 2020, to inquire into and report on the impact of insecure or precarious employment on the economy, wages, social cohesion and workplace rights and conditions. This includes the extent of insecure and precarious employment in Australia, the impacts of COVID-19 with respect to job precarity and insecurity, the digitally-mediated ‘gig’ economy, and other matters. The Centre for Future Work has made a submission to the Select Committee.

Economist and Director Dr Jim Stanford and Economist Dan Nahum presented evidence to the Senate Committee hearing in Melbourne on 20 April 2021. The transcript of their testimony is available here.

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