Sick of the doom and gloom? Australia can choose prosperity, if we elect to

September 20, 2026 — 3:00am

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There are two distinct kinds of optimism. The optimism of the entrepreneur, who sees limitless vistas ahead. And the sweaty optimism of the gambler, chasing good money after bad in the hope of recouping oppressive losses. Australia has every right to inspire the former. Yet somehow we’ve succumbed to the gambler’s curse.

I am sick of doom and gloom. And I expect many readers are, too. Australians have a shard of sunshine lodged in our souls that revolts against prolonged pessimism. At the end of winter, as the chill lifts from the air, we find it hard to believe that the economic pall hanging over our country is any less transient.

So it was a great relief to read a report this week that articulated a case for the first kind of optimism. Management consultancy McKinsey has laid out a path for “Australia’s next century of plenty”. It argues that after a lost decade, in which growth flagged, the nation can draw on its strengths to choose prosperity.

The vision is an inclusive one. It’s an Australia-focused version of a global project by the consultancy, which imagines even the poorest country in the world achieving the prosperity and quality of life of Switzerland. The alpine nation is chosen as an illustration for its desirable attributes – a country with high trust, reliable infrastructure, clean energy, safety and prosperity. Switzerland’s GDP per capita is $US82,000 ($115,000) – almost $US20,000 higher than in Australia.

Both the global story of progress and the Australian version point out that we have what it takes to realise a world and an Australia in which living standards improve as dramatically over the........

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