Why is everything so expensive? And will a wage increase just make it worse? New research shows that only a trivial portion of Australia’s inflation has come from wages this year, while rising prices continue to drive not just inflation, but profits to record highs.
This was recorded on Tuesday 26th July 2022 and things may have changed since recording.
The Australia Institute // @theausinstituteHost: Ebony Bennett, Deputy Director, the Australia Institute // @ebony_bennettGuest: Richard Denniss, Chief Economist at the Australia Institute // @RDNS_TAIProducer: Jennifer Macey // @jennifermaceyEdited by: Mikayla McGuirck-ScolaroTheme Music: Pulse and Thrum; additional music by Blue Dot Sessions

<div>Why is everything so expensive? And will a wage increase just make it worse? New research shows that only a trivial portion of Australia’s inflation has come from wages this year, while rising prices continue to drive not just inflation, but profits to record highs.</div><div> </div><div>This was recorded on Tuesday 26th July 2022 and things may have changed since recording.</div><div> </div><div><a href="http://australiainstitute.org.au/" target="_blank">The Australia Institute</a> // <a href="http://twitter.com/theausinstitute" target="_blank">@theausinstitute</a></div><div>Host: Ebony Bennett, Deputy Director, the Australia Institute // <a href="http://twitter.com/ebony_bennett" target="_blank">@ebony_bennett</a></div><div>Guest: Richard Denniss, Chief Economist at the Australia Institute // <a href="https://twitter.com/RDNS_TAI" target="_blank">@RDNS_TAI</a></div><div>Producer: Jennifer Macey // <a href="https://twitter.com/jennifermacey" target="_blank">@jennifermacey</a></div><div>Edited by: Mikayla McGuirck-Scolaro</div><div>Theme Music: Pulse and Thrum; additional music by Blue Dot Sessions</div>

Economics and politics explained in plain English

Economics and politics explained in plain English

Follow The Money

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Economics, politics and policy explained in plain English.

Economics, politics and policy explained in plain English.

Why is everything so expensive? And will a wage increase just make it worse? New research shows that only a trivial portion of...

What's really driving inflation?

Tax, inequality and democracy

Political and market power

Gas and super profits

Capital gains

Inequality creates insecurity and, as the United States is demonstrating right now, that insecurity can have devasting consequences for democracy.

On this episode of Follow the Money, Nobel Prize-winning economist Professor Joseph Stiglitz joins Ebony Bennett and Dr Richard Denniss to discuss why Australia should get a better return for its natural resources, the power of corporations to mark up prices and push down wages, and why democracies should collect more corporate tax.

This episode was recorded live on Wednesday 11 February 2026.

What we owe the water: It's time for a fossil fuel treaty by Kumi Naidoo is available now for just $19.95. Use the code 'PODVP' at checkout to get free shipping.

You can also subscribe to the Vantage Point series to get four essays a year on some of the most pressing issues facing Australia and the world.

Guest: Joseph E Stiglitz, Nobel Laureate economist and Professor, Columbia University // @josephestiglitz

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

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

Show notes:

The Price of Inequality: How Today's Divided Society Endangers Our Future by Joseph E Stiglitz (June 2013)

Australia’s great gas giveaway: how Australia gives gas to multinational corporations for free by Mark Ogge, Rod Campbell and Piers Verstegan, the Australia Institute (May 2024)

The capital gains discount and negative gearing benefit the rich and destroy housing affordability by Jack Thrower, the Australia Institute (February 2025)

Trump’s Big Bill makes America more dangerous while enriching a few, After America, the Australia Institute (July 2025)

Theme music: Pulse and Thrum; additional music by Blue Dot Sessions

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.

Inequality creates insecurity and, as the United States is demonstrating right now, that insecurity can have devasting consequences for democracy.
On this episode of Follow the Money, Nobel Prize-winning economist Professor Joseph Stiglitz joins Ebony Bennett and Dr Richard Denniss to discuss why Australia should get a better return for its natural resources, the power of corporations to mark up prices and push down wages, and why democracies should collect more corporate tax.
This episode was recorded live on Wednesday 11 February 2026.
<a href="https://australiainstitute.org.au/store/what-we-owe-the-water-vantage-point-issue-4">What we owe the water: It's time for a fossil fuel treaty by Kumi Naidoo</a>&nbsp;is available now for just $19.95. Use the code 'PODVP' at checkout to get free shipping.
You can also <a href="https://australiainstitute.org.au/store/vantage-point-subscription">subscribe to the Vantage Point series</a> to get four essays a year on some of the most pressing issues facing Australia and the world.
Guest: Joseph E Stiglitz, Nobel Laureate economist and Professor, Columbia University // <a href="https://bsky.app/profile/josephestiglitz.bsky.social">@josephestiglitz</a>
Guest: Richard Denniss, co-Chief Executive Officer, the Australia Institute // <a href="https://bsky.app/profile/richarddenniss.bsky.social">@richarddenniss</a>
Host: Ebony Bennett, Deputy Director, the Australia Institute // <a href="https://bsky.app/profile/ebonybennett.bsky.social">@ebonybennett</a>
Show notes:
<a href="https://www.penguin.com.au/books/the-price-of-inequality-9780718197384">The Price of Inequality: How Today's Divided Society Endangers Our Future</a> by Joseph E Stiglitz (June 2013)
<a href="https://australiainstitute.org.au/report/australias-great-gas-giveaway/">Australia&rsquo;s great gas giveaway: how Australia gives gas to multinational corporations for free</a> by Mark Ogge, Rod Campbell and Piers Verstegan, the Australia Institute (May 2024)
<a href="https://australiainstitute.org.au/post/the-capital-gains-discount-and-negative-gearing-benefit-the-rich-and-destroy-housing-affordability/">The capital gains discount and negative gearing benefit the rich and destroy housing affordability</a> by Jack Thrower, the Australia Institute (February 2025)
<a href="https://australiainstitute.org.au/post/trumps-big-bill-makes-america-more-dangerous-while-enriching-a-few/">Trump&rsquo;s Big Bill makes America more dangerous while enriching a few</a>, After America, the Australia Institute (July 2025)
Theme music: Pulse and Thrum; additional music by Blue Dot Sessions
We&rsquo;d love to hear your feedback on this series, so send in your questions, comments or suggestions for future episodes to <a href="mailto:podcasts@australiainstitute.org.au">podcasts@australiainstitute.org.au</a>.

Inequality creates insecurity and, as the United States is demonstrating right now, that insecurity can have devasting consequences for democracy.

Joseph Stiglitz on super profits, capital gains and why corporate tax is good for democracy

Becoming an activist

Listening to Pacific voices

The Fossil Fuel Treaty

Climate action without the US

Australia's opportunity to take action

With a leading role in this year’s United Nations climate conference, the Australian government has an opportunity to show genuine solidarity with its Pacific neighbours and climate-vulnerable communities at home.

On this episode of Follow the Money, Kumi Naidoo, South African human rights and climate advocate, joins Ebony Bennett to discuss the need for a fossil fuel non-proliferation treaty, why it’s past time for the Australia government to stop coal and gas expansion, and his new Vantage Point essay, What We Owe the Water.

This episode was recorded on Monday 9 February 2026.

What we owe the water: It's time for a fossil fuel treaty by Kumi Naidoo, is available now for just $19.95. Use the code 'PODVP' at checkout to get free shipping.

You can also subscribe to the Vantage Point series to get four essays a year on some of the most pressing issues facing Australia and the world.

Guest: Kumi Naidoo, President, Fossil Fuel Non-Proliferation Treaty Initiative // @kuminaidoo

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

Show notes:

"A drowning memory": the Pacific Island communities fighting for their survival, Follow the Money, the Australia Institute (March 2025)

Foreign aid and climate finance, Australia’s dismal track record by Matt Saunders and Richard Denniss, the Australia Institute (November 2025)

Theme music: Pulse and Thrum; additional music by Blue Dot Sessions

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.

With a leading role in this year&rsquo;s United Nations climate conference, the Australian government has an opportunity to show genuine solidarity with its Pacific neighbours and climate-vulnerable communities at home.
On this episode of Follow the Money, Kumi Naidoo, South African human rights and climate advocate, joins Ebony Bennett to discuss the need for a fossil fuel non-proliferation treaty, why it&rsquo;s past time for the Australia government to stop coal and gas expansion, and his new Vantage Point essay, What We Owe the Water.
This episode was recorded on Monday 9 February 2026.
<a href="https://australiainstitute.org.au/store/what-we-owe-the-water-vantage-point-issue-4">What we owe the water: It's time for a fossil fuel treaty by Kumi Naidoo</a>, is available now for just $19.95. Use the code 'PODVP' at checkout to get free shipping.
You can also <a href="https://australiainstitute.org.au/store/vantage-point-subscription">subscribe to the Vantage Point series</a> to get four essays a year on some of the most pressing issues facing Australia and the world.
Guest: Kumi Naidoo, President, Fossil Fuel Non-Proliferation Treaty Initiative // <a href="https://bsky.app/profile/kuminaidoo.bsky.social">@kuminaidoo</a>
Host: Ebony Bennett, Deputy Director, the Australia Institute // <a href="https://bsky.app/profile/ebonybennett.bsky.social">@ebonybennett</a>
Show notes:
<a href="https://australiainstitute.org.au/post/a-drowning-memory-the-pacific-island-communities-fighting-for-their-survival/">"A drowning memory": the Pacific Island communities fighting for their survival</a>, Follow the Money, the Australia Institute (March 2025)
<a href="https://australiainstitute.org.au/report/foreign-aid-and-climate-finance-australias-dismal-track-record/">Foreign aid and climate finance, Australia&rsquo;s dismal track record</a> by Matt Saunders and Richard Denniss, the Australia Institute (November 2025)
Theme music: Pulse and Thrum; additional music by Blue Dot Sessions
We&rsquo;d love to hear your feedback on this series, so send in your questions, comments or suggestions for future episodes to <a href="mailto:podcasts@australiainstitute.org.au">podcasts@australiainstitute.org.au</a>.

With a leading role in this year’s United Nations climate conference, the Australian government has an opportunity to show real leadership and genuine solidarity with its Pacific neighbours and climate vulnerable communities at home.

Australia’s climate crossroads

Interest rates are up because...expensive holi

This inflation is not the government's fault

Housing policy

Climate, productivity & meaningful reform

Trump & the global economy

The federal budget

With inflation driven by Christmas holidays and data centres for artificial intelligence, the RBA didn’t need to raise the interest rate this week, argues Matt Grudnoff.

On this episode of Follow the Money, Matt Grudnoff joins Ebony Bennett to discuss big economic reform opportunities facing the government and why the Reserve Bank of Australia is so cautious about cutting rates, yet so quick to hike them up.

Join economist, author and former Greek finance minister Yanis Varoufakis and friends in Adelaide on Sunday 1 March and in Sydney on Thursday 5 March. Tickets are selling fast, so get yours now.

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

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

Show notes:

Hasty decision inflicts more pain and will cost jobs, the Australia Institute (February 2026)

Australian high schools the most expensive in the world – new research, the Australian Institute (February 2026)

Treasurer Jim Chalmers on the likelihood of an interest rate rise today, Radio National Breakfast, Australian Broadcasting Corporation (February 2026)

Theme music: Pulse and Thrum; additional music by Blue Dot Sessions

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.

With inflation driven by Christmas holidays and data centres for artificial intelligence, the RBA didn&rsquo;t need to raise the interest rate this week, argues Matt Grudnoff.
On this episode of Follow the Money, Matt Grudnoff joins Ebony Bennett to discuss big economic reform opportunities facing the government and why the Reserve Bank of Australia is so cautious about cutting rates, yet so quick to hike them up.
Join economist, author and former Greek finance minister Yanis Varoufakis and friends <a href="https://events.humanitix.com/an-afternoon-with-yanis-varoufakis-and-friends-in-adelaide">in Adelaide on Sunday 1 March</a> and <a href="https://events.humanitix.com/an-evening-with-yanis-varoufakis-and-friends-in-sydney">in Sydney on Thursday 5 March</a>. Tickets are selling fast, so get yours now.
Guest: Matt Grudnoff, Senior Economist, the Australia Institute // <a href="https://bsky.app/profile/mattgrudnoff.bsky.social">@mattgrudnoff</a>
Host: Ebony Bennett, Deputy Director, the Australia Institute // <a href="https://bsky.app/profile/ebonybennett.bsky.social">@ebonybennett</a>
Show notes:
<a href="https://australiainstitute.org.au/post/hasty-decision-inflicts-more-pain-and-will-cost-jobs/">Hasty decision inflicts more pain and will cost jobs</a>, the Australia Institute (February 2026)
<a href="https://australiainstitute.org.au/post/australian-high-schools-the-most-expensive-in-the-world-new-research/">Australian high schools the most expensive in the world &ndash; new research</a>, the Australian Institute (February 2026)
<a href="https://www.abc.net.au/listen/programs/radionational-breakfast/jim-chalmers-on-the-likelihood-of-an-interest-rate-rise-today/106297060">Treasurer Jim Chalmers on the likelihood of an interest rate rise today</a>, Radio National Breakfast, Australian Broadcasting Corporation (February 2026)
Theme music: Pulse and Thrum; additional music by Blue Dot Sessions
We&rsquo;d love to hear your feedback on this series, so send in your questions, comments or suggestions for future episodes to <a href="mailto:podcasts@australiainstitute.org.au">podcasts@australiainstitute.org.au</a>.

With inflation driven by Christmas holidays and data centres for artificial intelligence, the RBA didn’t need to raise the interest rate this week, argues Matt Grudnoff.

What's really driving inflation?

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