Why mining lies at the heart of Australia’s productivity problem
Australia badly needs to diversify towards more productive industries. The politically privileged position of the mining industry is one of the obstacles.
When it comes to dealing with declining productivity growth, Australian governments have, for the past two decades, managed to score only an F.
It will seem counterintuitive to most Australians, but the mining industry lies at the heart of this problem. It is the largest industrial sector of the economy, with about 15 per cent of value added.
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Adrian Blundell-Wignall writes on the world economy and is a former director of the OECD. He is currently in Paris.
