Addressing climate change, inequality, the cost of living, housing affordability and environmental degradation should be the measure for success rather than increased economic activity for its own sake, the Centre for Policy Development said in a report.
The contribution comes as employer groups, unions, civil society and politicians weigh in on what they want from Treasurer Jim Chalmers' productivity summit later in August.
Amid the competing claims, the think tank's chief executive Andrew Hudson called for some perspective.
"We shouldn't assume that productivity gains will automatically translate into better lives," he said.
"If we want a stronger economy that actually delivers for people, we need to make that the explicit goal - not just a hopeful by-product."
Mr Hudson called for the tax mix to be shifted away from income towards rents, consumption and wealth, improving funding and approvals for clean energy projects, and addressing productivity in the care sector.
The report argued that productivity was poorly measured in sectors such as health and aged care, which led to worse outcomes for patients when operators sought to boost efficiency by cutting staff, for example.
The recommendations come as the Productivity Commission prepares to release a report on upskilling Australia's workforce on Monday night - the fourth of five interim reports ahead of the August 19-21 roundtable.
Prime Minister Anthony Albanese has tempered hopes major results from the roundtable will be implemented this term - comments portrayed by the opposition as a split with the treasurer.
Deputy Prime Minister Richard Marles denied any disagreement between the pair, implying any tax changes would be brought to the next election.
"They're on the same page," he told ABC's Insiders program on Sunday.Â
"The tax policies that we have are what we took to the election.
"But we need to be lifting productivity in this country and over the longer term, we need to have a clear eye as to how best to do that.
"We're not seeking to constrain the ideas put forward at the roundtable next week."