March 8, 2007


Industry policy key to productivity, study finds
: INDUSTRY policy rather than education is the key to raising Australia's level of productivity to the ranks of the world leaders. (David Uren, March 08, 2007, The Australian)

Labor treasury spokesman Wayne Swan has made tackling Australia's lagging productivity the centre of the party's pitch to regain economic credibility.

"In our high-tech competitive global economy the countries with the brightest economic futures are those investing in human capital - knowledge, skills and innovation," he said recently.

The Productivity Commission said that although investing in human capital helped to build productivity over the long term, there was no evidence that Australia's investment in education was lagging.

Although older Australians are less well educated than their American peers, the average Australian aged between 20 and 29 already has as many years of education as the average American. In fact, they are likely to wind up better qualified, as Australians do more training later in life.

In other words, they aren't better qualified, just more overeducated.

Posted by Orrin Judd at March 8, 2007 8:47 AM
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