We discuss the need for a new economic reality, and a focus on innovation based reform.
See Innovation Policy Missing In Action.
Australia’s Old-World Economy Is Not Fit For Purpose
2 thoughts on “Australia’s Old-World Economy Is Not Fit For Purpose”
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Hi Martin,
I was born in Switzerland and come to this gorgeous country in 1982.
Even though i was 22 years old when i left and had little to no interest in politics then, I remember that it simply was not a massive issue, unless a controversial referendum came up to be voted on.
The last 12 or so years are unmistakeable proof why what the professor describes is that way.
A lot of our short term outlook politics and with that lack of forward planning for innovation is rooted in the political structure. The reason why i mention where i was born is as follows:
Australia’s political system is ALMOST identical to the Swiss set up. They have 46 Kantons …States, in a country two thirds the size of Tasmania. Councils, State upper and lower houses and Federal upper and lower houses. The crucial difference is what is called the Bundesrat…like a Board of Directors. The seven positions are filled by people form parties fielding candidates proportionally to votes received in the election. The lower house then votes on which person they want in which position. Each position manages several portfolios. The mix of the seven members in the Bundesrat is a mix from different parties. They then govern the country. and vote on outcomes. Because of the seven positions there is NEVER a stalemate. Decisions get made! They are forced to work with one another instead of our confrontational, money and time wasting, short term thinking set up! It is the reason why Switzerland has a decent standard of living and while they are at the top of some of the list you reproduced. The Swiss system , whilst not totally foolproof is as good as it gets and it has proofed its worth for over a hundred fifty years in its current form. It developed from the year 1291 when started forming. The events in Great Britain, US and here in Australia show that the Westminster or similar based system in todays world of fast and wide spread information are too vulnerable because they need to Kow Tow to minorities, read buy votes, to stay in power. They are also exposed to lobbying and corruption. This fosters the disconnect people show for politics these days. We MUST change for us to truly prosper. I feel that the politics here are like dysfunctional parents and we are the kids that suffer!
Excellent, thanks Juerg, that is a great system and your assessment of our political system is also on the money.
Australia’s problems today are because of short term thinking 20 years ago.
I like the idea of a governing board of directors from all parties as well as this stops politic’s being a sport.