Alan Kohler is one of Australia’s most experienced commentators and journalists. Alan is the founder of Eureka Report, Australia’s most successful investment newsletter, and Business Spectator, a 24-hour free business news and commentary website. He also hosts Inside Business, a half-hour Sunday programme on the ABC, is the finance presenter on the ABC News - and producer of the nightly graph (or two).
The market was already factoring in a tapering of QE before Ben Bernanke's comments last night, and the fact we saw a mass exodus from risk assets suggests the Fed's program might have worked too well.
Bad loans in China's provincial businesses have been as high as 80 per cent because rural banks are beholden to the demands of local officials. It is critical for China's rural development that these banks stop receiving bailouts.
The implementation of Queensland’s Health Payroll system will be remembered as one of the most disastrous IT projects in Australia's history. How did things go wrong? And is a $1.25 billion lesson enough to ensure that the bungle isn't repeated?
Labor’s ambitious NBN vision looks to be on its last legs but that hasn't stopped NBN Co from carrying on with its business. The Coalition isn't going to like the new Transfield deal but then again it has bigger fish to fry right now.
The implementation of Queensland’s Health Payroll system will be remembered as one of the most disastrous IT projects in Australia's history. How did things go wrong? And is a $1.25 billion lesson enough to ensure that the bungle isn't repeated?
A final evaluation from the Central Victorian Solar City provides another insight into the household electricity demand fall – and the potential for further reductions.
CEOs outline changing views on corporate spending and profits, their economic expectations and political dissatisfaction, including advice for Julia Gillard and Tony Abbott.
UK-based Zeebox wants to be the intermediary for all social media-television interactions. It will not only have to lure viewers, but the networks themselves.
Until 2007 the top labour productivity performers included Greece and Ireland – proof strong productivity performance is a poor indicator of economic performance.
Accepting the below comments as true: "Indeed, net employment growth outside publicly funded community services and health has been anaemic". (Don't be a labour law fashion victim, February 28)
And "the growth that has occurred has generated more jobs of poor quality, in terms of labour standards, than in the past."
The conclusion is that: "This experience highlights that the GFC was not an accident. Rather, it was the culmination of an unsustainable policy regime."
This appears to me to be wrong. The GFC arose not from "an unsustainable policy regime" but a fundamental shift in manufacturing (and other) jobs from developed to developing countries (i.e. globalisation), an event that took place over many years and continues to take place. The GFC was simply the inevitable outcome of 20 to 30 years of unsustainable consumption by developed countries (via increased borrowings).
The solution is not "policymakers need to give greater attention to job quality and fairer distributions of income", because developed world policymakers cannot control globalisation and its affects (other than by putting up tariff walls).
S L,
There are some valuable points often missed by other commentaries (Don't be a labour law fashion victim, February 28). Fairness contributes to efficiencies that can be difficult to quantify and measure. It induces a cleaner corporate culture and more careful planning before a worker is taken on. Unfair dismissal safeguards are a key component to reinforcing good corporate governance, protecting the culture from becoming dysfunctional.
Tom Knox,
The US and the UK are very far from today's economic basket cases. Wait and see.
How can you believe any official statistics out of Greece? (Don't be a labour law fashion victim, February 28.)
Ken Mcalpine,
When you live in the US, UK or Australia, the majority of your workforce is employed in the service sector.
So quantifying a nurse's ouput is much harder that quantifying the output of a fruit picker. Flexible working hours, and flexible annual leave, can also cloud average output.
The bottom line – work output is as you say an evolving measure of an economies success (Don't be a labour law fashion victim, February 28).
Graham Stacey,
Is productivity about employment growth? I don't think so (Don't be a labour law fashion victim, February 28). In essence, is it not about achieving more output for the same, or less, input? If the discussion is about the effect of labour laws on productivity then clouding the discussion with the "quality" of employment growth is anything but productive.
Comments on this article
Comments PolicyAccepting the below comments as true: "Indeed, net employment growth outside publicly funded community services and health has been anaemic". (Don't be a labour law fashion victim, February 28)
And "the growth that has occurred has generated more jobs of poor quality, in terms of labour standards, than in the past."
The conclusion is that: "This experience highlights that the GFC was not an accident. Rather, it was the culmination of an unsustainable policy regime."
This appears to me to be wrong. The GFC arose not from "an unsustainable policy regime" but a fundamental shift in manufacturing (and other) jobs from developed to developing countries (i.e. globalisation), an event that took place over many years and continues to take place. The GFC was simply the inevitable outcome of 20 to 30 years of unsustainable consumption by developed countries (via increased borrowings).
The solution is not "policymakers need to give greater attention to job quality and fairer distributions of income", because developed world policymakers cannot control globalisation and its affects (other than by putting up tariff walls).
There are some valuable points often missed by other commentaries (Don't be a labour law fashion victim, February 28). Fairness contributes to efficiencies that can be difficult to quantify and measure. It induces a cleaner corporate culture and more careful planning before a worker is taken on. Unfair dismissal safeguards are a key component to reinforcing good corporate governance, protecting the culture from becoming dysfunctional.
The US and the UK are very far from today's economic basket cases. Wait and see.
How can you believe any official statistics out of Greece? (Don't be a labour law fashion victim, February 28.)
When you live in the US, UK or Australia, the majority of your workforce is employed in the service sector.
So quantifying a nurse's ouput is much harder that quantifying the output of a fruit picker. Flexible working hours, and flexible annual leave, can also cloud average output.
The bottom line – work output is as you say an evolving measure of an economies success (Don't be a labour law fashion victim, February 28).
Is productivity about employment growth? I don't think so (Don't be a labour law fashion victim, February 28). In essence, is it not about achieving more output for the same, or less, input? If the discussion is about the effect of labour laws on productivity then clouding the discussion with the "quality" of employment growth is anything but productive.