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The long-held belief that the private sector is more efficient than the public sector is not supported by theory or evidence. www.shutterstock.com

Pursuing ‘efficiency’ in the public sector: why privatisation is not necessarily the answer

“The reality is that government employees around the world are known not to be as efficient as the private sector.” —Paul Fletcher, Liberal Party, Member for Bradfield “The efficiency of the public system…
Despite continuing unrest in Europe - particularly Cyprus - the global economy has firmed, say Shadow Reserve Bank commentators.

RBA: rates should hold, with a gradual return to neutral

The consensus of the nine members of the Shadow Board is that the Reserve Bank of Australia should leave interest rates unchanged from March at 3.00%. But the balance of risks implies rates should rise…
A bipartisan approach to reducing greenhouse gas emissions is within reach that could ensure the current carbon pricing regime does not need to be dismantled. AAP

Why a bipartisan approach is needed on carbon pricing

The long-term future of carbon pricing in Australia’s efforts to reduce our emissions of greenhouse gases is bleak if there is no bi-partisan approach. With Coalition likely to win September’s election…
The conviction of Rio Tinto executive and Australian citizen Stern Hu for industrial espionage in 2010 highlighted the importance of managing issues of ethnic identity in China. AAP

Understanding identity is the key to succeeding in China

The 21st century is predicted to be Asia’s century. As the leading economic power in Asia, China has become a popular business partner for many countries notably Australia. With increasing business interactions…
ACTU secretary Dave Oliver has called on the government to increase the minimum wage to combat growing income inequality in Australia. AAP

Why the ACTU needs to hold the line on the minimum wage

The recent Four Corners documentary on poverty in the United States is a salutary reminder of why the Australian Council of Trade Unions (ACTU) needs to hold the line on minimum wages in relation to average…
Bill Shorten will announce appointments to the Fair Work Commission in an attempt to provide balance as well as legal expertise. AAP/Dave Hunt

Shorten recruits Law Council chief for Fair Work Commission

Workplace Relations Minister Bill Shorten is bringing private sector legal firepower into the Fair Work Commission, including appointing the President of the Law Council of Australia, Joe Catanzariti as…
Popularity of digital video streaming services such as Netflix suggest that the future of TV may well be online. Image from www.shutterstock.com

Netflix: a house of cards or the new HBO?

In arguably the TV event of 2013 so far, House of Cards – a $100 million, 13-episode TV series starring Kevin Spacey, directed by David Fincher, and commissioned by Netflix, premiered exclusively online…
While ASIC Chairman Greg Medcraft this week warned the Australian funds management industry to clean up their act, in the UK, financial regulators will soon have the power to intervene directly in the market. AAP

ASIC lacks bite as UK regulators chew down on financial spruikers

In opening the Australian Securities and Investment Commission (ASIC) forum this week, chairman Greg Medcraft pulled no punches. “Manufacturers [i.e. banks and financial institutions] - and, frankly, this…
Talk of the Cyprus bailout sparked a surge in the value of virtual cryptocurrency Bitcoin. zcopley

Is the Cyprus crisis a boon for Bitcoin?

For most of us, banks represent a trusted and safe harbour for our money. Investing in fixed term deposits for example, is widely seen as a low-risk strategy. The global financial crisis changed that view…
Having a sound corporate vision is a key driver of a company’s success, but a recent study suggests that most employees are ignorant of corporate strategy.

All talk, no action: why company strategy often falls on deaf ears

Corporate consultants often say that a company’s success depends not only on having a clear vision, but the ability to articulate it to all levels of staff. But how many employees know or understand the…
A deal to help Cyprus raise €7 billion to qualify for another €10 billion bailout from the EU and IMF has been agreed to, but investors will feel the pain. EPA/Olivier Hoslet

Cyprus bank bailout plan: the experts respond

Uninsured savings over €100,000 deposited in a troubled Cypriot bank may be subject to a new levy, under a deal reached to save the Cyprus banking system. The European Union (EU) finance ministers, the…
A single lump payment and the ability to pool family income should replace the current complicated family tax benefit system. Flickr/ajusticenetwork

Restore the family wage by simplifying the tax system

Two changes are needed to the taxation and family benefits system to improve efficiency and achieve equity between families. The first step is to replace the current complicated family tax benefit payment…
Could a corporation get away with running itself the way the ALP has handled its leadership woes? AAP

Labor could look to business to regain the lost art of leadership

Yesterday’s events around Labor’s leadership were stunning. Julia Gillard emerged victorious but polls will no doubt continue to predict a huge loss for this Government on election day and MPs in marginal…
The price of China’s rapid economic growth has been toxic air pollution.

China’s growing pains: expect more smog on the horizon

Beijing has been blanketed by another round of heavy smog, this time causing more chaos as businesses reopen and people return after the Lunar New Year Holiday. Over the past eight weeks, the capital has…
The problem with Fairfax’s “soft paywall” is that many readers may sample as much content as they can before going elsewhere. Image from www.shutterstock.com

A paywall is not enough —Fairfax must become bespoke or fail

Fairfax Media is introducing a “soft” paywall for The Age and the Sydney Morning Herald (SMH). Initially, the paywall will only affect readers outside Australia, but a domestic version will follow. Fairfax…
Should there really be “sympathy” for the free-to-air networks as their protected oligopoly crumbles in the face of competing platforms and services?

Why new media reforms are bad news for Australian content

Two of the government’s six media reform bills passed in the House of Representatives with multi-party support on Tuesday night. While most attention and debate has focused on the regulation of the news…
Is the impact of a high dollar on sectors such as manufacturing the price we’ve paid to avoid an “overheated” econpmy - or was there another way the RBA could have gone?

Happening upon a silver lining stitched into the hip pocket of the high dollar

In an address to the Australian Industry Group yesterday, Deputy Governor of the Reserve Bank Philip Lowe made a number of interesting remarks regarding recent monetary policy and the difficulties experienced…
The dark side of sunny Cyprus: money laundering and lax enforcement of tax law has made the country a hotspot for wealthy Russians.

Cyprus avoids a bad haircut, but pays a price for shady finance

In a surprise move that shocked investors and commentators alike, the Republic of Cyprus announced plans last weekend to impose a levy on bank deposits. However, Cyprus’ prime minister, Nicos Anastasiades…
A proportion of investors want to avoid controversial asset classes - but would it pay off?

Can super investors really bank on ethical investment?

One quarter of Australians would be willing to switch superannuation funds to avoid investing in coal or coal seam gas, according to a recent survey. Not only does this research raise important questions…
Brunswick households have largely welcomed the NBN, but more needs to be done to address retail pricing structures for high-speed broadband plans. AAP

Despite bumps in the rollout, households show strong support for the NBN

The NBN is emerging as one of the key issues in the lead-up to this year’s federal election. But the project has been fraught with challenges: planning issues and a shortage of skilled labour have delayed…
Despite all the talk of a new liberal America in the wake of Obama’s re-election, the economic debate has from both sides is staunchly conservative. AAP

US budget debate signals the death of optimistic liberalism

The Republican and Democratic budgets released last week share little common ground. But both illustrate the same point: for all the talk of a new liberal America in the wake of Barack Obama’s re-election…
Gambling tax reform should be a part of a gambling harm minimisation tax package.

Why tax reform can help reduce problem gambling

Gambling provides Australian state governments with an average of 7.3% of their own taxes, about $5147 million, according to ABS data for 2010-11. Victoria (10.8%) and New South Wales (8.6%) earn above…