At least you have to give business credit — it is consistent. No matter what the actual facts say about how one builds prosperity and how an economy thrives, we keep hearing the same whinging and hand-wringing: the economy suffers from a lack of productivity and that is holding down growth. Uh, nonsense.
This is all going to be in the wind as the government rolls out its review of the Fair Work Act. Surprise, it’s been good for workers:
”After considering the economic aspects of the Fair Work Act the panel concludes that since the Fair Work Act came into force, important outcomes such as wages growth, industrial disputation, the responsiveness of wages to supply and demand, the rate of employment growth and the flexibility of work patterns have been favourable to Australia’s continuing prosperity,” it says. It also criticises Work Choices. ”Of the four bargaining frameworks over the last 20 years, Work Choices is least like the others. Its period of effective operation was relatively brief and during that period it was significantly amended.” [emphasis added]