Even though it is a cliche, it’s true that in the end, productivity is just about everything.
Competition is the best way to make sure that productivity gains are delivered in lower prices or savings used to improve products. Yet, the wrong government policies can kill competition and productivity and create inefficiency instead, which makes it essential that there is vigilant monitoring of policy impact.
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Nick Hossack is a public policy consultant, former policy director at the Australian Bankers Association, and former adviser to John Howard.
