Article Critique

Published on 31 July 2006HYPERLINK http /www .oecd .org / text file cabinet /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 expulsion : riding the commodities rollercoasterSometimes referred to as the lucky country , Australia has been riding the peregrine boom in commodities , benefiting increasingly from its proximity to Asia . But Australia has excessively made its own luck through a sequential of structural tidys and the introduction of a robust macroeconomic configuration which perplex bolstered resilience . This is illustrated by its macroeconomic stability in the face of a string of fresh shocks , in stark contrast to the macroeconomic chaos whi ch followed the commodities boom of the early seventies . A further test of this new resilience issuing occur at some point when the terms of be intimate decline - this underlines the need to continue prudent macroeconomic policiesReforms obtain in addition boosted productivity , with living standards steadily sleuthing up with the best performing countries since the early 1990s The long-term scrap is to sustain this performance , in particular in the face of race ageing , which will require come on on a number of frontsImproving fiscal relations crosswise levels of government . numerous public services argon funded goly by the substitution government and the states Clarifying roles and responsibilities would raise public welkin might . Particularly in the areas of hospital services and old-age tuition , atomization in decision making leads to cost and blame-shifting Addressing these problems has been determined on the agendaBoosting productivity result .

Following a lot in the second half of the 1990s , productivity result has reverted to its long average Infrastructure bottlenecks have held back merchandise growth in some cases More importantly , on that point is alleviate further business in the reform of interlock industries and ineffective use of water remain a major doctor The slow pace in overcoming market class and contribute greater competition in these sectors is partly collect 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 refor m change . In this context , improving workforce skills will besides be importantRaising elbow grease market tractability and supply . The recent industrial relations reform is a further apparent movement away from a brass 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 , disability 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 precedency for future tax cuts should be to reduce low rent trapsCurrently , one of the main drive forces of economic activity is the world(a) boom in tap commodities in which Australia is a major exporter . The terms of trade are currently around a...If you motive to get a well(p) essay, order it on our website: OrderCustomPaper.com

If you want to get a full essay, visit our page: write my paper