Australian Politics Forum - Portent of doom: Australian productivity fell 3.7%

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Portent of doom: Australian productivity fell 3.7%
Sep 5^th, 2024 at 12:15pm

Australia is going backward. 6.9% increase in hours worked.

The chart in the link below says it all. Non-market productivity is abysmal and falling. The non-market sector is mostly public service jobs.

Quote:

Across the economy, productivity fell 3.7% in 2022-23, as output growth failed to keep pace with a record 6.9% increase in hours worked, the commission said. A rush by employers to hire new staff was much higher than in previous bursts – the nearest comparison was the 4.3% rise in hours worked in 1988-89.

https://i.guim.co.uk/img/media/a42fd9937846787cf2b5eae66370f850d3f74ca2/0_0_1320...

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Frank

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Re: Portent of doom: Australian productivity fell 3.7%
Reply #1 - Jan 7^th, 2025 at 5:02pm

Britain and Northern Europe’s incredible growth story following the horrors of the 1300s — which saw the Great Famine and Black Death decimate our population — was fuelled by a constant need to innovate in labour-saving technologies.

That raises an interesting parallel for our own time: if allowed to play out naturally, there’s every reason to suppose our own population decline could also encourage investment and productivity growth.

Rather than presenting population decline as an existential challenge for our welfare system, we can instead see gentle population decline as an opportunity. Instead of being a limit to growth, population restrictions present an opportunity to innovate, invest, and make us all more productive. This requires a mindset change and an escape from the low-wage, low-productivity spiral we’ve trapped ourselves in — and instead an embrace of a richer, high-productivity, high-investment economy for us and our children.

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Estragon: I can’t go on like this.
Vladimir: That’s what you think.

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Grappler Deep State Feller

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Re: Portent of doom: Australian productivity fell 3.7%
Reply #2 - Jan 7^th, 2025 at 8:45pm

Frank wrote on Jan 7^th, 2025 at 5:02pm:

Britain and Northern Europe’s incredible growth story following the horrors of the 1300s — which saw the Great Famine and Black Death decimate our population — was fuelled by a constant need to innovate in labour-saving technologies.

That raises an interesting parallel for our own time: if allowed to play out naturally, there’s every reason to suppose our own population decline could also encourage investment and productivity growth.

Rather than presenting population decline as an existential challenge for our welfare system, we can instead see gentle population decline as an opportunity. Instead of being a limit to growth, population restrictions present an opportunity to innovate, invest, and make us all more productive. This requires a mindset change and an escape from the low-wage, low-productivity spiral we’ve trapped ourselves in — and instead an embrace of a richer, high-productivity, high-investment economy for us and our children.

You too are coming onboard with the Grappler Plan of generating new and real infrastructure that produces and then value adds instead of value subtracting by mass importation, and in which the latest and most modern production facilities will be in place thus creating productivity to the max and not needing mass immigration.

I bring you the GAIAs ... as a man of true vision I only require a 1% royalty on profits .... in perpetuity to my descendants... the Pilbara Iron Ore Processing and secondary industries complex, powered by the latest technologies and with the heat of production converted to power creation... the Trans Australia rail network to bring coal to the furnaces for times it is needed... gas from the North West Shelf .... solar and wind and backup ..... ship building and other major industries .... all dwellings self-sustaining and each with a weekly packet of Tim Tams .... all traffic infrastructure fully planned ... a set of town stocks for malfeasants...

The list is endless... and all for a 1% royalty on profits!!

The opening of Lake Eyre to the sea and creation of a New Inland Sea with climate.... put convicted terrorists and such to good use digging the last few feet of the tunnels to the water.... Breakers to Bourke Barefoot Ski Classic annually.... boating, tourism, fishing, fish farming, lobsters, crabs.... think how far ahead South Australia would go... Cool

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“Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passion, they cannot alter the state of facts and evidence.”
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