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Beyond GDP: Rethinking productivity in today’s economy

Beyond GDP: Rethinking productivity in today’s economy

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 What does productivity really mean in today’s fast-moving, tech-driven world – and are traditional measures still relevant? In this episode of INTHEBLACK, take a fresh look at how to define and measure productivity in today’s high-tech economy. Longstanding metrics like multi-factor productivity (MFP) and gross domestic product (GDP) have shaped economic policy for decades – but are they still fit for purpose? An expert guest expert draws on insights from the Australian Productivity Commission and his own research to explore: Why conventional productivity measures may no longer reflect real economic value Emerging alternative metrics that better capture today’s workplace dynamics What this shift means for business leaders, finance professionals and policymakers If you're a business owner, accountant or advisor looking to better understand the future of work and economic performance, this episode will give you the context – and questions – you need to stay ahead. Listen now to uncover what productivity really is in today’s economy. Host: Garreth Hanley, podcast producer, CPA Australia Guest: John QuiggIn, Professor of Economics at University of Queensland. He is prominent both as a research economist and as a commentator on Australian economic policy. He is a Fellow of the Econometric Society, the Academy of the Social Sciences in Australia. His latest book After Neoliberalism was released in 2024. For more information on research reports by the Australian Productivity Commission, head to its website. Additionally, learn more about alternative productivity metrics such as wellbeing indices and TFP (total factor productivity) INTHEBLACK has also covered this episode’s topic. You can find a CPA at our custom portal on the CPA Australia website. Would you like to listen to more INTHEBLACK episodes? Head to CPA Australia’s YouTube channel. CPA Australia publishes four podcasts, providing commentary and thought leadership across business, finance, and accounting: With InterestINTHEBLACK INTHEBLACK Out LoudExcel Tips Search for them in your podcast platform. Email the podcast team at podcasts@cpaaustralia.com.au
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