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Reserve Bank of Australia governor Philip Lowe has again delivered an upbeat assessment of the nation's economic outlook but warned the coming quarter century will be tougher than the last 26 years. Noting that a global upswing would help sustain Australia's expansion, Dr Lowe said there were plenty of reasons for optimism, even if "we are not talking about a boom and there are still plenty of risks out there".

Failure by politicians to resist a Donald Trump-inspired global trade war would help unleash a populist wave of protectionism that would end up costing Australia 100,000 jobs and wipe $1500 a year from average incomes, the Productivity Commission warns. In a self-initiated report triggered in January by Trump's inauguration, the independent government think-tank hopes the findings will arm policy makers with the arguments to avoid a drift back to tariffs walls as well as self-defeating...

Materialising beside me as I wait in springtime sunshine and light harbour breeze at one of Otto's outside Woolloomooloo wharfside restaurant tables is British philosopher AC Grayling. With trademark swept back grey hair, thin-framed glasses and open collar, Grayling is superficially the epitome of what some might sneeringly attack as the quintessential ivory-tower professor specialising in talking to other comfortable elites.

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