Paul Howes provides 'sparkle' on the Titanic

Paul Howes has a sinking feeling about Australia's economy, and workers aren't to blame. Firms must wake up and reinvest capital in productive assets, and unions jettison excessive wage claims.

The response to the Paul Howes ‘grand compact’ speech has been predictable, with Labor and union leaders arguing that his vision of a peaceful transition to a leaner, more productive Australia is a ‘fantasy’.

Well, it’s not that. The power of Howes’ speech lies in his perceptive reading of the structural forces at work within the economy. And it really is “the economy, stupid”, as Bill Clinton might say.  



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