"You can't rely on markets to deliver justice. The market is not necessarily going to give us a socially acceptable outcome, so it has to be political intervention." - Paul Krugman, 2008 Nobel laureate in economic sciences.
A gap of 26 percentile points, and widening. That is what defines the difference in employment outcomes between Indigenous and non-Indigenous Australians. Addressing this issue, which ought to be impermissible in the first place, is not a dilemma, but an imperative.
The Prime Minister stated in his 2020 Closing the Gap report that Indigenous Australians' right to take responsibility must be restored, and that things must change. But exactly what needs to change?
On this episode of Time to Listen, we are joined once again by the Cape York Institute's Head of Policy, Prue Briggs. On a previous episode, Prue introduced CYI's initiative regarding full employment in Cape York communities. This week, we take a deeper dive.
Prue explains how Australia needs to re-embrace its previous economic disposition of full employment, fitting its core tenets with the needs of modern Indigenous Australian society. We address the criticisms of full employment, as well as the employment-related criticisms that Indigenous Australians receive themselves.
Prue outlines how such a policy can be designed fit for the needs of Cape York, and appropriately implemented in consultation with Indigenous communities. She also explains the shift in socioeconomic outcomes that we are likely to witness as a result of such fundamental and radical reform, and exactly how quickly we can expect to see this change.
Thank you for taking the time to listen.
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To find out more about CYI's proposal for a Jobs Guarantee:
https://capeyorkpartnership.org.au/media-articles/australian-job-guarantee/
https://www.theaustralian.com.au/inquirer/the-case-for-a-government-jobs-guarantee/news-story/dee6e9545cd5af967c853e2f0481b02d
To find out more about Modern Monetary Theory:
http://bilbo.economicoutlook.net/blog/
Statistics mentioned in this episode:
Gap in employment rates between Indigenous and non-Indigenous Australians: https://www.aihw.gov.au/reports/australias-welfare/indigenous-employment
Income inequality in Australia:
https://newsroom.unsw.edu.au/news/social-affairs/income-and-wealth-inequality-australia-was-rising-covid-19
Long-term unemployment:
https://www.rba.gov.au/publications/bulletin/2020/dec/pdf/long-term-unemployment-in-australia.pdf
Budget overview and fiscal commitment to Indigenous Affairs:
https://budget.gov.au/2021-22/content/download/glossy_overview.pdf
History of unemployment and inflation in Australia:
https://tradingeconomics.com/australia/unemployment-rate
http://library.bsl.org.au/jspui/bitstream/1/160/1/research%20discussion%20paper%209215.pdf
https://www.abs.gov.au/statistics/research/70-years-inflation-australia
History of unemployment and inflation in the U.S:
https://tradingeconomics.com/united-states/unemployment-rate
https://tradingeconomics.com/united-states/inflation-cpi
Sources of audio snippets:
Paul Krugman:
Paul Krugman - Inequality, Our Divided Society
https://www.youtube.com/watch?v=SQcrDNPlqfs
Martin Luther King:
MLK Talks 'New Phase' Of Civil Rights Struggle, 11 Months Before His Assassination | NBC News
https://www.youtube.com/watch?v=2xsbt3a7K-8
Scott Morrison:
PM pushes for Indigenous-led refresh after releasing 12th Closing the Gap report | ABC News
https://www.youtube.com/watch?v=cloZNx_3p0s&t=469s
Philip