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A future paved with gold? You must be joking; "There are three ways for a country to get richer"
Topic Started: 6 Feb 2011, 05:18 PM (1,224 Views)
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A future paved with gold? You must be joking

ROSS GITTINS
February 5, 2011

ECONOMISTS are convinced our highest priority is to keep increasing our material standard of living as rapidly as possible. I'm not sure they're right. But if they are, we have a problem.

There are three ways for a country to get richer, to raise its real income (gross domestic product) per person. The first is to keep increasing the labour and physical capital being used to produce goods and services at a faster rate than the population is growing.

The second way is to be lucky enough to have the rest of the world pay us higher prices for the stuff we sell it.

The third way is to increase our productivity - to find ways of producing more goods and services each year from the same quantities of labour and capital. We achieve this mainly through technological advance.

Trouble is, we've got problems with two out of three of these - and the third can't last.

We used to have no trouble increasing the total number of hours we worked faster than the population was increasing, but the ageing of the population means we won't be able to keep this up.

Read more: http://www.smh.com.au/business/a-future-paved-with-gold-you-must-be-joking-20110204-1agsb.html
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http://www.apo.org.au/research/australias-productivity-challenge

http://www.grattan.edu.au/publications/069_productivity_challenge.pdf

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Australia's productivity challenge

* Grattan Institute

PDF Australia's productivity challenge
Report cover: Australia's productivity challenge

02 February 2011Australia’s productivity performance deteriorated over the past decade, with the broadest measure of productivity growth going backwards over the past five years. A broad range of industries have slowed. In the long run this will impair Australian quality of living, and our ability to respond to everything from an ageing population to climate change.

The slowdown in productivity is the consequence of an increase in productivity-stifling regulation and legislation; a loss of appetite for productivity-enhancing change among governments, businesses and voters; the effect of ‘capacity constraints’ as the economy has approached ‘full employment’; and slippage in Australia’s take-up of productivity-enhancing technologies.

Australia needs to re-invigorate economic reform, including improvements to education and training, better governance of infrastructure investment, and a heightened attention to innovation.
Publication type Report
Publisher Type APO Member, Think tank
Coverage Australia
Permanent URL http://www.apo.org.au/node/23725
Views 248
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Participation rates will decline and so will productivity due to the agequake.
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NotFooled
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pauk
6 Feb 2011, 05:57 PM
Participation rates will decline and so will productivity due to the agequake.
That's why policy makers love immigration and governments support the idea of Big Australia despite public concerns. Gotta keep growing.
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Future
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How to make a path:

1.) Have resources (like Australia)
2.) Have business minds (like Australia)
3.) Be popular country to live (like Australia)
4.) Have shitloads of money (like Australia)
5.) Have houses that increase in value (like Australia)
6.) Have a business mind (like Australia)
7.) Have what China wants (like Australia)
8.) Pussy out like Seppos or Euro fags (unlike Australia)
9.) Be the most popular people in the world (like Australians)
10.) Have heros like Wally Lewis and Don Bradman (only one choice)
11.) Don't take any shit (like Australia)
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Elastic
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He seems to be peddling the myth that GDP is all about "productivity".
He forgot the easiest way for a country to increase GDP is to increase the money supply by creating more debt. In fact it is probably the most significant contributor to GDP.
The reason that GDP growth outside the mining sector is so stagnant is because credit growth for housing is stagnant.

Most things that improve productivity actually lower GDP because they make goods cheaper or reduce the need for employment of workers. GDP is a useless measure in so many ways.
Only a rat can win a rat race.

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themoops
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NotFooled
15 May 2012, 04:54 PM
That's why policy makers love immigration and governments support the idea of Big Australia despite public concerns. Gotta keep growing.
It won't work because most immigrants suck. We've had tonnes of immigration for 10-15 years now and there's still a skills shortage. Importing immigrants who aren't good for much other than driving a taxi or working in a computer shop won't cut it. :D

In fact it will make things worse because it will clog up infrastructure, even more, as if it isn't bad enough as it is, and the people who are worth a pinch of shit will work relatively poorly, because they'll be knackered from commuting and will be demotivated.
stinkbug omosessuale


Frank Castle is a liar and a criminal. He will often deliberately take people out of context and use straw man arguments.
Frank finally and unintentionally gives it up and admits he got where he is, primarily via dumb luck!
See here
Property will be 50-70% off by 2016.
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Frank Castle
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Business As Usual

Future
15 May 2012, 05:13 PM
How to make a path:

1.) Have resources (like Australia)
2.) Have business minds (like Australia)
3.) Be popular country to live (like Australia)
4.) Have shitloads of money (like Australia)
5.) Have houses that increase in value (like Australia)
6.) Have a business mind (like Australia)
7.) Have what China wants (like Australia)
8.) Pussy out like Seppos or Euro fags (unlike Australia)
9.) Be the most popular people in the world (like Australians)
10.) Have heros like Wally Lewis and Don Bradman (only one choice)
11.) Don't take any shit (like Australia)
To this tune?

Ignore posts by The Whole Truth · View Post · End Ignoring
The forum fuckwit goes RRRAAARRRGGHHhhh - But not a fuck was given..................by anyone.
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themoops
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Future
15 May 2012, 05:13 PM
How to make a path:

1.) Have resources (like Australia)
2.) Have business minds (like Australia)
3.) Be popular country to live (like Australia)
4.) Have shitloads of money (like Australia)
5.) Have houses that increase in value (like Australia)
6.) Have a business mind (like Australia)
7.) Have what China wants (like Australia)
8.) Pussy out like Seppos or Euro fags (unlike Australia)
9.) Be the most popular people in the world (like Australians)
10.) Have heros like Wally Lewis and Don Bradman (only one choice)
11.) Don't take any shit (like Australia)
How to make a path:

1.) Have resources (like Australia)

We have them but how long will the world want them for? A lot of people say China is a big bubble.

2.) Have business minds (like Australia)

LOL.

3.) Be popular country to live (like Australia)

That's changing, people are waking up to the high cost of living here.

4.) Have shitloads of money (like Australia)

We don't have shitloads of money, we have shitloads of debt. We have nearly no savings.

5.) Have houses that increase in value (like Australia)

They're not increasing anymore. They're decreasing.

6.) Have a business mind (like Australia)

You said that before, what a load of shit. Most of our "business minds" are bunch of idiot spivs who are only good for building unit blocks, digging up shit out of the ground, or selling shit made in China at a premium.

7.) Have what China wants (like Australia)

Yeah for how long.

8.) Pussy out like Seppos or Euro fags (unlike Australia)

We're the fags, they make shit. We don't.

9.) Be the most popular people in the world (like Australians)

Rapidly changing thanks to people like you taking off on holidays and acting like a bunch of douchebags.

10.) Have heros like Wally Lewis and Don Bradman (only one choice)

What a wank, nobody outside Australia likes League or Cricket.

11.) Don't take any shit (like Australia)

Nooo, we're just selling out our real estate, companies and farming land to foreigners, real tough and good. :re:
stinkbug omosessuale


Frank Castle is a liar and a criminal. He will often deliberately take people out of context and use straw man arguments.
Frank finally and unintentionally gives it up and admits he got where he is, primarily via dumb luck!
See here
Property will be 50-70% off by 2016.
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TED BULLPIT
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Good post moops.
You showed the reality of the situation rather than a falsified fantasy version. ;)
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