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Michael Angwin

Labor takes away the flexibility to cope with change

Most workplaces are stable, long-term relationships. But they need the ability to absorb shocks from their markets and from government policy.

Michael AngwinFormer IR adviser
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We don’t work in a classical labour market.

Workers do not respond to marginal changes in wage relativities by seeking higher pay or new jobs. Enterprises do not respond to marginal changes in profit-making opportunities by lowering wage rates or turning over their workforce.

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Michael Angwin is a former industrial relations adviser. He is author of 'Playing in the Twilight'
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    Original URL: https://www.afr.com/policy/economy/labor-takes-away-the-flexibility-to-cope-with-change-20230824-p5dz9h