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Stephen Grenville

Stephen Grenville

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Stephen Grenville, a former deputy governor of the Reserve Bank of Australia, is a non-resident fellow at the Lowy Institute in Sydney.

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  1. oneill69_Malte Mueller Getty Images_handholdingdollarsign Malte Mueller/Getty Images

    A Living Wage for Capitalism

    Jim O'Neill

    Higher nominal wages for low-paid workers can boost real earnings, increase consumer spending, and help make housing more affordable. And insofar as raising the minimum would increase companies’ wage bill, it would create a stronger incentive to replace labor with capital, which could lay the foundation for renewed productivity growth.

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