Nov 19, 2012

Wasting billions in the run-up to the ‘growth cliff’

Complaints about productivity ignore that the greatest capital destruction in Australian business is caused by boards and management, write Glenn Dyer and Bernard Keane.

“Gee ma, what was it like before the resources boom started? You know, in the olden days?

“Well son, business invested in a range of industries because they saw growth prospects were good, or they took risks and invested in new areas in an attempt to pioneer the way.

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5 thoughts on “Wasting billions in the run-up to the ‘growth cliff’

  1. Daly

    Well said!
    What about the waste in salaries Chaney and others have received in the past few years and their outrage at the government’s new two shareholder strikes and you are out rule?
    Hypocricy writ large!
    AFR and The Oz’s contribution to productivity is definitely in the minus range.

  2. Edward James

    A national growth cliff you guys GLENN DYER AND BERNARD KEANE write about. And where are all those our elected representatives who are paid by us to look after our best interest? what are they still doing about preventing australians from falling off this fiscal cliff? Am I wrong to point out the government and world banking arrangements in place, are fiscally unhealthy to the grass roots community like me. Edward James

  3. Lance Boyle

    Ever so well said, chaps.

  4. Maksimovic

    How is it possible that we’ve managed to somehow turn the conversation about productivity to be about workers being greedy when company managers keep making losses and get rewarded for failure through ever higher and higher salaries and bonuses…

  5. Edward James

    Maksimovic consider how government keeps track of what is ready to be sent overseas.

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