Annual Faculty of Economics & Business Alumni Dinner
23 Oct 2009
Director of Access Economics*, Chris Richardson, presented his thoughts on the reasons behind the Global Economic Crisis and the long term implications for Australia at the annual Faculty of Economics and Business alumni dinner.
Head of Access Economics' Forecasting and Modelling Unit, author of Business Outlook and University of Sydney Alumnus (BEc Hons '83), Mr Richardson's key note address at the dinner asked the provocative question: "Has Australia dodged the Bullet?"
Mr Richardson spoke enthusiastically about his predictions for the Australian economy - arguing that our longer term outlook is one of the best among the rich nations of the world - but questioned whether the current recovery would be as strong as many expect given that families need to save more and that there will be a catch up in the pace of retirement among baby boomers.. He also questioned whether markets are too pessimistic on the inflation risks inherent in big government debts but considered that a return to sustainability in Federal fiscal finances remains a rather bigger task than widely understood.
Dean of the Faculty of Economics and Business, Professor Peter Wolnizer, said he was delighted that one of Australia's leading and best known economists was able to share his latest thinking with the group.
"As a faculty we are committed to engaging our valued alumni with relevant and thought provoking events. Chris Richardson is not only a highly talented professional economist, but a thought leader in his field. Chris, like other illustrious graduates of Economics and Business at Sydney, plays a very important leadership role in the business and professional communities in and beyond Australia."
*Access Economics is one of Australia's leading economic consulting firms, providing expert economic advice to business, government, industry groups and not-for-profit organisations.