Implementation of a big business reform agenda after the crisis would lead to lower growth, more wage stagnation and more anger at business as it inflicts costs on the community.
With every quarter of wage stagnation, households are changing their behaviour to reflect the fact that incomes simply aren't growing any more.
Business continues to insist all would be well if they had less regulation to contend with — all while workers and consumers pay the price.
Crikey readers respond to the government finally facing the music on the reality of stagnating wages and a failing economy, while elsewhere readers react to Westpac's apology.
The Morrison government has been forced to recognise the stagnation it is presiding over, slashing wage growth forecasts and revealing big cuts to its forecast budget surpluses.
Retail chain Harris Scarfe going into administration — the latest in a long list of shuttered retailers — illustrates the cost of the government's do-nothing economic policy.
Evidence from the US and New Zealand is that even at very low levels of unemployment, wages will continue to stagnate.
A torrent of economic data emerged yesterday to suggest the stagnating economy is at risk of turning into something worse.
The Reserve Bank has suggested monetary policy has done most of what it can for a stagnating economy — and that it's time for the government to step up.