Greg Jericho, The Guardian‘s economics columnist, argues that instead of putting the onus on the government business should look at how it can improve capital productivity. The article cites ‘After the boom: where will growth come from?’, the chapter by Professor Roy Green (pictured) on innovation, skills and business leadership, from CPD’s 2013 book, Pushing our luck.
The RBA governor, Glenn Stevens, told a business luncheon last week in Sydney, “My sense is that in a lot of areas of business people are sitting around tables saying, ‘Yeah, somebody needs to do something and we’re waiting for someone else to do it.’ ”
Instead of putting the onus on the government, Stevens put it to on business: “But you know if we all wait for someone else to do it, no one does it. So I guess my message is: over to you, guys.”
His call echoes that of the Centre for Policy Development which noted last year that business needed to improve management practices, actively work to improve their workers’ skills and also become not just a first mover but also a “fast follower” of technology.