" The New America” is birthing?, page-16

@moorookamick

the problem for australian wages isnt largely something politicians can change - not directly at least

you are canning posters for their lack of input - but not many people understand economics well enough to contribute meaningfully

Australians have an extraordinarily high wealth and high standard of living for the size of population. our wages are equally high - in constant currency terms.

the reason for that primarily is our agricultural, mining, financial services and property sectors.

in particular mining functions kind of like the US tech and biotech sectors - it is disproportionately revenue generative for govts and for companies for the relatively small number of people involved.

So our standard of living is disproportionately high - which as you say - means non-differentiated wage earners will always be under significant cost threat from lower cost offshore production

this was the reason so many kids were pushed toward tertiary education since the 70s

but we're in a very different position vs US because we have such a small population - so we have difficulty creating value adding enterprises here because of the small size of the addressable market

thats why port kembla (twice) and newcastle steelworks were forced to close, why all the car manufacturers folded once govt subsidies ran out

not to say we dont create value add businesses - but they dont tend to grow the way they would in the US because of the small market

and its the value adding businesses that create durable business profit growth that can continue to pay people higher wages year after year

you arent going to fix it on a website forum

you can only fix it by starting a business that has global scalability - but that operates here in Australia