Ross Greenwood entered financial journalism at the right time – the turning point when the deregulation of the Australian economy made personal finance and economics interesting. The sweeping reforms of the early 1980s that have transformed Australia’s economy happened at the beginning of Ross’ career. In fact, he can remember, as a young reporter, talking on radio in December 1983 about the deregulation of the dollar. It was a significant time that ushered in big changes for Australia. “As soon as we deregulated the dollar, the financial markets, and interest rates, a flood of new financial products entered the market,” says Ross. Those new financial products have changed the way Australians talk about their money, as what was once a taboo subject has become a national obsession. Property, shares and even cryptocurrencies are now regular topics at the pub, or around the dinner table, but that’s not how it used to be: “most families didn’t talk about money, sex, or religion,” says Ross. “So, I am not sure what they talked about.” Part of the reason money wasn’t discussed, though, was that there was no need to talk about it. The only financial product most people used was a mortgage, and there was no choice available. Most didn’t even have superannuation. Today, everyone makes important choices about their finances. The result is that it’s vital for people to be financially literate, and hence the need for people such as Ross, who uses a natural gift for communication to keep the public updated on economic news. For Ross the finance journalist, there is no subject or story off limits, as just about every story in today’s society has money at its core. “The truth is, money touches every aspect of every person’s life, whether it is through their work, through the charity they volunteer for, or the sporting club they’re involved in – there is money at the bottom of most things,” he says. “It is essential to be economically literate and have some consciousness about what is happening in the financial markets and our own financial worth. People need to educate themselves so they don’t make mistakes… so that they are not conned.” Ross, who was born in Melbourne and grew up in Wangaratta, has played an important role in ensuring that Australians have that economic literacy. His career started at the notorious Melbourne Truth, then owned by Rupert Murdoch’s News Corp, as a copy boy, straight out of high school. He soon moved to The Australian, in one of his first roles as a business reporter. That opportunity has shaped Ross’ career. He was a popular member of the Healthy, Wealthy and Wise team on Channel 10. He has edited the (now defunct) BRW magazine, and founded Shares magazine in the UK and in Australia. He has had numerous roles in radio, including his current Money News show that airs on 2GB and around Australia. His preeminent gig today is as business and finance editor at the Nine Network. That’s a rare job to have. Only two people have held the Business Editor’s role at Nine in the past 33 years. It gives Ross an almost unrivalled platform to educate Australians on economic issues, and to agitate for change. After 26 years without a recession, Australia has enjoyed the benefits of liberalisation, but more reforms are needed, says Ross. “The sad thing is that the Government today is too shy to make the bold and breathtaking changes that we have seen in the past. That is sad, because by not making changes, Australia has gone backwards for a number of years. “If the politicians are not bold enough to make significant changes, then it will be to the detriment of the Australian economy and Australia as a whole.” Ross says that Australia is in a position where it needs to embrace the world and its position within it. To do that, we need to look at our tax system, industrial relations system, and the education system. “We need to better prepare people for working in a global environment – we need businesspeople with improved economic literacy who understand that while Australia is a cosy place, we have got to compete in the world,” he says. “Brilliant businesses do exactly that: they take on the world with success, but so many others are frightened. If anything, education needs to prepare the business and community. We need to realise that the world is a place of opportunity, and not a place that we should retreat from.” The Mercedes-Benz Parramatta Ambassador shared with MBP Magazine, his pertinent insights into the biggest issues facing the Australian economy over the next year. FEATURE 9