Education is key to productivity
Ross Gittins, writing in The Age asserts:
OUR miracle economy is running out of spark. The rapid productivity improvement of the 1990s has not continued into the noughties.
Between 1998 and 2004, growth in multi-factor productivity dropped to a below-trend 1 per cent a year, compared with 2.1 per cent during the 1993 to 1998 growth cycle.