Economy

Dec 17, 2012

Quiggin: OECD right on education to productivity

The OECD wants Australia to improve productivity -- but sees the solution as education, not a return to WorkChoices. Economist John Quiggan on the regulation, tax and industrial relations hints.

Surveys by the Organisation for Economic Co-operation and Development are, most of the time, a reflection of the views of the relevant national Treasury. So the recent OECD report on the Australian economy is of interest primarily as a guide to the thinking of the Australian Treasury.

First, if Treasury were seen by the international policy community to be seriously off-beam, the OECD would say so. The OECD’s general endorsement of the Treasury line on macroeconomic policy, including the view that the surplus target should be abandoned if international conditions deteriorate further, is an indication that this is not the case.

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