Treasurer Josh Frydenberg (Image: AAP/Mick Tsikas)

If nothing else, the release yesterday of the latest Intergenerational Report served to demonstrate that we're locked into the same useless debate about economic reform that's been going on for years.

The report's assumption of a return to annual productivity growth of 1.5% over the long-run has been universally derided as an act of wild optimism, especially given Treasurer Josh Frydenberg's professed attitude that all the big reforms have been done and the road ahead is about eking out lots of small improvements. "You can't float the dollar twice," he says.

That's elicited what is now the almost ritualistic demands for more (big e,  big r) Economic Reform, and lamentations that the current crop of politicians aren't a patch on previous generations like Hawke and Keating, with both sides portrayed as too timid to propose reforms. It's everywhere today -- in The Australian, from the Bloviator-At-Large and in a bizarre editorial which claimed "the satisfaction of family life must be a vital aspiration for the young"; in the Financial Review again and again (including from Craig Emerson); and of course from the usual suspects in employer groups.