The Australian economy is one of the best performing economies internationally, thanks largely to the resources boom. But what happens next? The government is often criticised for not investing in the infrastructure to build opportunities beyond mineral extraction, but the issue could be broader than that. Is Australia being held back by its laid-back attitude, which isn’t helped by the fact that we’re doing pretty well right now?
Martin Duursma, Vice President of Citrix Labs at Citrix, reckons the “she’ll be right” attitude is holding back innovation in this country. We don’t see the need to stick our neck out when we have such a comfortable lifestyle. The problem is compounded when, if we are successful, we become the subject of the tall poppy syndrome. Not surprisingly he suggests we need a cultural shift to enable great ideas to flourish.
Maybe he’s right. Perhaps the biggest problem for Australia is that it’s too much of a lucky country. What do you think?
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Wired Brown Land: The podcast
Paul Fletcher has seen two sides of the telecommunications industry. First as an advisor to Senator Alston, the communications minister under the Howard Government, then he headed Regulatory Affairs for Optus. So what insights can he provide on the industry over the last decade?
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Oil and equities: back where we started from
A massive hit in oil prices and US equities, yet the US dollar is on the rise. NAB’s Gavin Friend looks at a night of sudden moves and speculates on what’s to follow.
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UK-EU no deal looms, Aussie breaks 75 cents, ECB to buy more bonds
Even NAB’s Gavin Friend is starting to think a no-deal Brexit is the most likely outcome. At least the EU got their budget passed today, and the US has given itself another week to reach a deal on its stimulus package. Plus, the take-outs form today’s ECB meeting.
