Article Critique

Published on 31 July 2006HYPERLINK http /www .oecd .org / text register /28 /0 ,2340 ,en_2649_34569__1_1_1_1 ,0 0 .html http /www .oecd .org / record /28 /0 ,2340 ,en_2649_34569__1_1_1_1 ,00 .htmlEconomic Survey of Australia 2006Economic Survey of Australia 2006 : The short-term take elision : riding the commodities rollercoasterSometimes referred to as the lucky country , Australia has been riding the sublunar boom in commodities , benefiting increasingly from its proximity to Asia . But Australia has as well made its own luck through a concomitant of structural revitalizes and the introduction of a robust macroeconomic anatomy which perplex bolstered resilience . This is illustrated by its macroeconomic stability in the face of a string of fresh shocks , in austere contrast to the macroeconomic chaos which follow ed the commodities boom of the early mid-seventies . A further test of this new resilience vent occur at some point when the terms of parcel out decline - this underlines the need to continue prudent macroeconomic policiesReforms get under ones skin in addition boosted productivity , with living standards steadily sleuthing up with the best performing countries since the early 1990s The semipermanent scrap is to sustain this performance , in particular in the face of race ageing , which leave require overture on a number of frontsImproving fiscal relations across levels of government . numerous public services argon funded goly by the substitution government and the states Clarifying roles and responsibilities would raise public empyrean might . Particularly in the areas of hospital services and old-age occupy , atomization in decision making leads to cost and blame-shifting Addressing these problems has been displace on the agendaBoosting productivity result .

Following a heap in the second half of the 1990s , productivity proceeds has reverted to its long average Infrastructure bottlenecks have held back exportation growth in some cases More importantly , in that respect is alleviate further business in the reform of meshing industries and ineffective use of water dust a study doctor The slow pace in overcoming market air division and contribute greater competition in these sectors is partly callable to the joint responsibilities of the federal government and the states , although , the Council of Australian Governments has recently concord to a National Reform Agenda that aims to re-invigorate and broaden the reform change . In this context , improving workforce skills wi ll in addition be importantRaising elbow grease market flexibility and supply . The recent industrial relations reform is a further apparent movement away from a arranging that had been highly prescriptive . live for further simplification remains , which would allow greater domain for bargaining over workplace conditions . In addition , labour supply can be raised further , particularly from lone parents , second earners , damage beneficiaries and those aged over 55 . The recent tightening in eligibility requirements for welfare benefits goes in the decent direction , but should also be applied to the extraction of all beneficiaries . A anteriority for future tax cuts should be to reduce low pay trapsCurrently , one of the main drive forces of economic activity is the spheric boom in tap commodities in which Australia is a major exporter . The terms of trade are currently around a...If you indigence to get a well(p) essay, order it on our website: OrderEssay.net

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