{"id":79249,"date":"2025-08-19T06:29:04","date_gmt":"2025-08-19T06:29:04","guid":{"rendered":"https:\/\/www.newsbeep.com\/au\/79249\/"},"modified":"2025-08-19T06:29:04","modified_gmt":"2025-08-19T06:29:04","slug":"australias-oligopoly-economy-is-bad-for-your-hip-pocket","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/au\/79249\/","title":{"rendered":"Australia&#8217;s oligopoly economy is bad for your hip-pocket"},"content":{"rendered":"<p>Nearly a decade ago, in 2016, then Australian Competition and Consumer Commission (ACCC) Chairman, Rod Sims, delivered a <a href=\"https:\/\/www.macrobusiness.com.au\/2016\/10\/rod-sims-rise-rise-oligopoly-economy\/\" rel=\"nofollow noopener\" target=\"_blank\">speech<\/a>\u00a0on the growing concentration of Australian industry.<\/p>\n<p>New <a href=\"https:\/\/www.rba.gov.au\/publications\/rdp\/2025\/2025-05.html\" rel=\"nofollow noopener\" target=\"_blank\">research<\/a> undertaken by Reserve Bank of Australia (RBA) economists has concluded that increased market concentration in some sectors of the economy has weighed on productivity.<\/p>\n<p>The RBA economists found that productivity, and therefore economic output, would have been 1%\u20133% higher by mid-2017 if there had been a similar level of competition in key sectors during the mid-2010s compared with the same period in the previous decade:<\/p>\n","protected":false},"excerpt":{"rendered":"Nearly a decade ago, in 2016, then Australian Competition and Consumer Commission (ACCC) Chairman, Rod Sims, delivered a&hellip;\n","protected":false},"author":2,"featured_media":79250,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[64,63,99,164],"class_list":["post-79249","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-au","tag-australia","tag-business","tag-economy"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/79249","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=79249"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/79249\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/79250"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=79249"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=79249"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=79249"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}