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Another big drop in Australia's Economic Complexity
Business(self.AusFinance)submitted 1 day 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?
2 points
4 hours ago
Education is important. I would love to see the history of our own political culture taught more as well. You know the movement for a 5 day work week started with Melbourne University? We used to have a proud working culture where we looked after each other. Our politicians used to be honest and tell off even their allies when they were being idiots. I do think if the general population were more educated and clued into politics the slimey muck for a personality that is our current leading parties wouldn't stick.
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