Adam Creighton has a piece in today’s Australian (paywall protected) on how Australia’s inflexible and antiquated industrial relations laws is dragging down our productivity.
According to a 2013 report by the IMD World Competitiveness Centre, Australia has fallen to its lowest level on the productivity index in 25 years:
AUSTRALIA has fallen to its least-competitive position among 60 advanced and developing economies in a quarter of a century…
The main reason for the decline in Australian competitiveness was worsening labour market flexibility, which deteriorated by more than any other factor in the past year. Read more