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The Forum > Article Comments > The Dutch Disease has infected the Australian economy > Comments

The Dutch Disease has infected the Australian economy : Comments

By John Töns, published 17/8/2011

How strong would our economy be without mining? The Australian government needs to remember that with every boom, there comes a slump.

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Pericles
In terms of overall management and quality, have a look at the Human Development Index, and see where Australia stands in each category.

Australia is near the top in every category, and this is a result of overall good management and concern for quality.

Also glance at a list of countries with a AAA rating, although by the time globalisation is finished, there may be no countries with a AAA rating, (while some executives on Wall Street will still be earning bonuses).

Quality is one thing, but perception is another, and often Australian companies can’t compete in advertising budgets. Their products may be good quality, but not considered “sexy” enough, because they can’t compete with large multinational companies in advertising budgets.

An example is the movie industry in Australia, which once produced some good quality and very enjoyable movies. However, local movie companies couldn’t compete with overseas companies that often spent as much on advertising a movie as they spent on making the movie.

I am familiar with the sugar industry, and the Australian sugar industry was producing the best quality sugar in the world. That came about from good management over many decades, but now most of the sugar industry has been bought by foreign companies. I believe that this has ultimately occurred due to a lack of public will to keep that industry, and also to keep other industries that have been sold off in recent times.

So it is not just a mentality of import, import, import, it is also a mentality of foreign owned is best.
Posted by vanna, Sunday, 21 August 2011 9:12:20 PM
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