Be more productive. Save more. Get more education. Be healthier. Avoid chronic disease (this would mean “100,000 deaths” could be avoided.) Faster broadband and everything will be put online.
Rudd writes that productivity is down and faster broadband will fix that problem. We have to become the ‘knowledge nation’ so we’re less susceptible to China imprisoning our mining executives resources ups and downs.
“The digital revolution will be the single greatest multiplier of productivity growth.”
“For the past decade or more, many Western countries consumed too much, living beyond their means and racking up debts from those countries that saved too much.”
After the Asian financial crisis years ago – “many economies to accumulate massive foreign reserves to guard against external vulnerability”. [didn’t Japan do that? Why are they in such a mess now, then?]
He quotes Nobel prize winner Paul Krugman: “Productivity isn’t everything but in the long run it is almost everything.”
“Creating the best-educated, best-skilled, best-trained workforce in the world is a core element of the productivity agenda.”
The only bit of Ruddbot- speak was “compact” – I think “contract” or “pact” would have been better. He writes: “A Jobs and Training compact with Australia” and “a compact with young Australians so that anyone under the age of 25 must be earning or learning” – makes no sense. He should use normal English.
It’s impressive that Rudd and Obama are hard workers, churning out their thoughts.
Turnbull must be furiously scribbling away on a 6000-wd reply.