Australia faces economic challenges from financialisation, low fertility, and rising frustration

Australia's economic challenges are increasingly linked to three new factors: financialisation, fertility, and frustration. Financialisation refers to the growing dominance of finance in the economy, shifting focus from production to financial products, impacting housing and investment decisions. Fertility rates in Australia have dropped to a record low of 1.5, with many young people unable to afford homes. This financial strain is leading to difficult choices between starting families and managing mortgages, contributing to declining birth rates. Frustration over high living costs, job security, and housing affordability is widespread. This sentiment mirrors trends seen in other countries, where voters express dissatisfaction with current policies, highlighting the need for a broader economic policy approach.