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Opinion

Australia's central bank's reasoning needs rethinking

Wages policy lies at the heart of the new government's challenge

| Australia
Jim Chalmers in Brisbane on May 15: The Labor treasurer will want to rebalance the wage versus profit share of the economy.   © Getty Images

Political historian Chris Wallace is a professor at the University of Canberra.

Australia's tyro treasurer Jim Chalmers could not have taken over management of the Australian economy at a more difficult time. The clear-talking 44-year-old Queenslander has inherited problems in common with many finance ministers in the industrialized world right now, but with a twist.

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