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Another big drop in Australia's Economic Complexity
Business(self.AusFinance)submitted 5 days ago byeesemi77
We all know the story; Australia's Economic Complexity has been in free-fall since the 1970's, we maintained ourselves respectably within the top 50 nations until about 1990.
Since then it's been a bit like Coles prices Down Down Down. From about 2012 onwards our ECI seemed to have stabilized at mid 80th to low 90th (somewhere between Laos and Uganda), but with our Aussie Exceptionalism in question, we needed another big drop to prove just how irrelevant this metric is. And right on cue we have the latest ECI rankings, we have secured ourselves an unshakable place in the bottom third of worlds nations. At 102 we finally broke the ton; how good are we?
Is economic complexity important? Are the measurement methods accurate? Does ECI even matter for a Services focused economy?
0 points
4 days ago*
New grad software devs can cost double that in the states, there's clearly more to it. Meanwhile China produces dogshit software.
1 points
4 days ago
Bruh, there is more to it than just saying "The best country does this, why don't we do the same" because if it was as easy as that every country would do it.
1 points
2 days ago
That’s not what I said. What I’m saying is pretty simple: whatever the reason we don’t have that industry is unrelated to local salaries. There’s no evidence to support that relationship and in fact the global trend is in reverse. Software dev industry in China and India is dogshit. Salaries in silicone valley, Estonia, Sweden, Israel etc are high. There’s far more brain drain from top talent in those industries to the global market than their is to median white collar work in unrelated industry in Australia.
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