Dr Sam Wylie

But it is about that, about how people make choices.

And so the kind of choices that you and I need to make, so how much am I going to work to earn as opposed to how much of my time I'm going to spend on something else?

When I make money, how much of it, the government's going to take a big chunk of that in taxes.

But then apart from that, how much am I going to save as opposed to how much I'm going to spend?

And when I spend it, what am I going to spend it on?

So I'm going to spend it on travel, accommodation, health,

food, entertainment, et cetera.

And when I save it, where am I going to put it?

Am I going to put it in the bank?

Am I going to put it in my super?

Am I going to save for a deposit for a house, et cetera?

See, those are all choices.

That's the first thing, understanding how people make choices.

But then the second thing is all of those choices add up to something.

So individuals make choices, individual people like you and me, Kate, but also individual companies like BHP or CSL or National Australia Bank.

They're really big companies, but small companies are the same, like a local plumbing company or local travel agent.

They have to make choices about what they're going to produce, how much they're going to charge in price, how many people they're going to hire, how much they're going to

to pay those people, et cetera.

So you've got individuals, companies making choices, and all of those choices add up to something.

They all come together.