By Jo Nova
For some reason the pursuit of global teenage-girly weather-control has meant Australian workers are less productive. Who could have guessed that attempts to stop storms, floods and droughts in a hundred years would not make us richer today? I mean, apart from everyone?
“Australians are working harder for less”
In the last 25 years we’ve spent 126% more on capital costs but only improved output by 14%. It’s bad!
Now even the Productivity Commission is warning that renewable green investment is holding back the nation.
Australian productivity was rising until it suddenly fell off a cliff around May 2022 (see the graph below). Coincidentally this was the moment the Albanese Labor Party first got elected and went gangbusters with renewable energy. It seemed to be worthy of an annotated arrow, so I added that in…
Productivity Commission: Quarterly productivity bulletin June 26
From The Australian:
Renewables and green spending drag down productivity, PC warns
By Matthew Cranston, The Australian
Australia’s falling productivity levels have been driven down by the replacement of coal-fired power plants with billions of dollars in renewable energy projects, the Productivity Commission has declared, as it warns […]
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