The Reserve Bank of Australia’s recent statement on monetary policy, heavily emphasizing the need to boost “productivity,” is a central focus of the linked article. The document, cited over 290 times in connection with productivity, is viewed as a justification for intensifying attacks on the working class. The article posits that the push for increased productivity is not aimed at genuine economic improvement for all, but rather a tool to suppress wages, increase exploitation, and ultimately redistribute wealth upwards to the capitalist class.
The article highlights the connection between the pursuit of productivity and the suppression of wages and conditions. Automation and technological advancements, often touted as drivers of productivity, are presented as mechanisms to eliminate jobs and force workers into accepting lower pay and precarious employment.
Furthermore, the “productivity” drive is framed as a justification for government policies that favor big business, such as tax cuts and deregulation. These policies, while allegedly stimulating investment and growth, are argued to further exacerbate social inequality and benefit the wealthy elite at the expense of the working class. The article suggests that the Reserve Bank’s language is a smokescreen for a calculated assault on workers’ rights and living standards.
find the original article here: https://www.wsws.org/en/articles/2025/08/13/yszj-a13.html