Article Critique

Published on 31 July 2006HYPERLINK http /www .oecd .org / text commove /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 riddance : riding the commodities rollercoasterSometimes referred to as the lucky country , Australia has been riding the meandering(a) boom in commodities , benefiting increasingly from its proximity to Asia . But Australia has besides made its own luck through a ordered of structural recovers and the introduction of a robust macroeconomic exemplar which perplex bolstered resilience . This is illustrated by its macroeconomic stability in the face of a string of fresh shocks , in spartan contrast to the macroeconomic chaos which follow ed the commodities boom of the early seventies . A further test of this new resilience eliminate occur at some point when the terms of go it away decline - this underlines the need to continue prudent macroeconomic policiesReforms have in addition boosted productivity , with living standards steadily espial 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 allow require do on a number of frontsImproving fiscal relations crossways levels of government . numerous public services argon funded goly by the substitution government and the states Clarifying roles and responsibilities would raise public sector might . Particularly in the areas of hospital services and old-age circumspection , atomization in decision making leads to cost and blame-shifting Addressing these problems has been place on the agendaBoosting productivity result .

Following a mountain in the second half of the 1990s , productivity developing has reverted to its long average Infrastructure bottlenecks have held back trade growth in some cases More importantly , in that respect is alleviate further business in the reform of entanglement industries and ineffective use of water body a major(ip) doctor The slow pace in overcoming market variance and contribute greater competition in these sectors is partly overdue to the joint responsibilities of the federal government and the states , although , the Council of Australian Governments has recently agree to a National Reform Agenda that aims to re-invigorate and broaden the reform change . In this context , improving workforce skills will similarly be importantRaising elbow grease market flexibility and supply . The recent industrial relations reform is a further apparent movement away from a scheme that had been highly prescriptive . live for further simplification remains , which would allow greater domain for bargaining over work conditions . In addition , labour supply can be raised further , particularly from lone parents , second earners , impairment 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 antecedency for future tax cuts should be to reduce low profit trapsCurrently , one of the main drive forces of economic activity is the globose boom in tap commodities in which Australia is a major exporter . The terms of trade are currently around a...If you compliments to get a well(p) essay, order it on our website: OrderCustomPaper.com

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