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> Low productivity growth Australia has exceptional 'productivity' from extracting geological resources, providing exceptional and taxable profits, and requiri
by h0l0cube 3y ago
> Low productivity growth
Australia has exceptional 'productivity' from extracting geological resources, providing exceptional and taxable profits, and requiring few human resources. Low productivity in other areas (e.g., service industries, tech) is more caused by low investment in education than vice versa. Other industries won't find a home in Australia without a capable talent pool, and you can't have that without a well-funded education system.
- visarga 3y agoIn any economy there will be sectors that experience rapid growth and sectors that don't. The former will raise salaries, the latter will be impacted, because people have choice. With raising salaries you get raising rents, and this teachers get priced out.
- h0l0cube 3y agoDon't disagree that mining has caused property and rental prices to grow. Other factors in Australia are mandatory superannuation, with large funds buying up real estate, and also generous tax cuts for property investment. This doesn't explain why Australia hasn't significantly invested in education in the last few decades.