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.
The IMD ranking, due to be released today in Switzerland and billed as “the most thorough and comprehensive annual report on the competitiveness of nations”, has been published annually since 1989.
Click here to read the full piece