You know Australia’s in trouble when the Reserve Bank cuts interest rates. Last week, the central bank did precisely that, in belated recognition of the income recession that has struck. Gross domestic…
Much of the current political turmoil in Australia can be traced to Bill Clinton’s famous aphorism: “it’s the economy stupid” – in particular, the plunge in world commodity prices over the past few years…
Two things stand out about the economic recovery in Britain. One is the sluggish growth in real wages. The other is the sluggish growth in productivity. That the two phenomena have coincided is no accident…
John Van Reenen, London School of Economics and Political Science
There are things to like in the Autumn Statement. The reforms to end the “cliffs” in stamp duty and make it a more graduated tax are welcome, but even better would have been to replace stamp duty entirely…
China’s economy grew by 7.3% during the third quarter of 2014, meeting market expectations. Polling by Reuters and the Wall Street Journal put the consensus forecast at 7.2-7.3%, the slowest pace in more…
With major employers heading offshore and employment numbers decimated, what will emerge from the ashes of Australia’s manufacturing industry? And what role should manufacturing play in the federal government’s…
Mental health disorders are the greatest contributor to the burden of disability and the third largest contributor to the burden of disease after all cancers and all cardio-vascular diseases. But unlike…
Rest “is for wimps” – or so many would have us believe. In a world where “time is money” and there “aren’t enough hours in the day”, hard-working people are sleeping less and working more. This in itself…
Reserve Bank of Australia Governor Glenn Stevens has ticked off on a major item on the “to do” list for Australian policy-makers: raise the rate of growth in labour productivity. In his keynote speech…
What are the risks in the economic outlook for Australia? Typically, prognosticators take a scenario-based (aka “story-telling”) approach to answering this sort of question. And usually these scenarios…
Most companies that live and breathe the online revolution are not tech startups, but smart smaller firms that use online tools to run their core business better: to cut costs, reach customers and suppliers…
It is often argued that Australia’s construction sector productivity is lower than most other developed countries, such as the US. While there are many factors involved, Australia’s overall productivity…
The latest report on Australia’s productivity performance wasn’t good news. The annual update by the Productivity Commission confirmed Australia continues to lag most other developed economies, and has…
This week the Productivity Commission released its second Productivity Update. The Productivity Report reviews Australia’s “productivity performance” over the last year. It disaggregates the statistics…
Fears for the so-called lost generation look more valid by the day. Britain’s chancellor might have the confidence to target full employment, but the problem of getting young people into work is a genuine…
When Australia hosts the G20 Leaders’ Summit in November, a top agenda item for its “Brisbane Action Plan” will be “practical actions to improve productivity and competitiveness”. So here’s a good place…
Australia should cut company taxes and increase innovation to avoid falling behind in the productivity race, according to a new report from the Organisation for Economic Co-operation and Development. The…
Over the last decade, Australia has experienced a productivity slump. Our long-term productivity growth ranks well below the OECD average, and significantly below that enjoyed by leading economies. However…