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OECD's periodic review of the Australian economy examines recent economic developments, policies and prospects. Special chapters cover strengthening adjustment capacity and productivity performance.
This edited volume is about the Australian difference and how Australia's economic and social policy has diverged from the approach of other countries. Australia seems to be following a 'special path' of its own that it laid down more than a century ago. Australia's distinctive bent is manifested in a tightly regulated labour market; a heavy reliance on means testing and income taxation; a geographical centralization of political power combined with its dispersal amongst autonomous authorities, and electoral singularities such as compulsory and preferential voting. In seeking to explain this Australian Exceptionalism, the book covers a diverse range of issues: the strength and weakness of religion, democratic and undemocratic tendencies, the poverty of public debate, the role of elites, the exploitation of Australian sports stars, the politics of railways, the backwardness of agriculture, deviation from the Westminster system, the original encounter between European and Aboriginal cultures, and the heavy taxation of tobacco. Bringing together contributions from economists, economic historians, and political scientists, the volume seeks to understand why Australia is different. It offers a range of explanations from the 'historical legacy', to material factors, historical chance, and personalities.
Explores workplace relations in the twenty-first century and examines the Global Financial Crisis and the Fair Work Act 2009.
Additional written evidence is contained in volume 3, available on the Committee website at www.parliament.uk/bis
This book explores one of the most significant trends in the evolution of global tax systems by asking how, within less than half a century, the value-added tax (VAT) has risen from relative obscurity to become one of the world's most dominant revenue instruments. Despite its significance, very little is known about why so many countries have adopted the VAT and, in particular, why different countries adopt the types of VAT that they do. The popular mythology provides that the merits of the VAT have underpinned its global spread; however, this book contends that much scholarship confuses the question of why the VAT has risen to dominance with the issue of what makes a good VAT. This book combines policy and legal analysis to propose a new way of understanding the rise of this important revenue instrument so as to better reflect the realities of the VATs that are actually implemented.
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For many years, legislators around the world have responded to the particular needs of consumers by introducing dedicated rules for consumer sales contracts. In the European Union, a significant push came through the adoption of the Consumer Sales Directive (99/44/EC). Elsewhere in the world, legislation focusing on consumer sales contracts has been introduced, for example in New Zealand and Australia. This book offers a snapshot of the current state of consumer sales law in a range of jurisdictions around the globe. It provides both an overview of the law in selected jurisdictions and compares the application of these rules in the context of two case scenarios.
Economics for today’s student! Principles of Economics is designed with one overriding aim: to make this exciting and highly relevant subject clear, accessible and easy to understand. The text puts economics in the context of the real world, bringing the subject alive and giving students an insight into the economy in which we live and the economic forces that shape our lives. The distinguishing features of this resource are its clarity and conciseness, which make Principles of Economics ideally suited to introductory courses in economics largely inhabited by business studies students and other non-economics majors.
The book provides a comprehensive, comparative treatment of the development of New Investment Funds (NIFs)—private equity, hedge funds, and sovereign wealth funds—and their impact upon labour and employment. Several countries are selected for in-depth treatment with a chapter devoted to each: US, UK, Australia, Germany, Netherlands, Sweden, Italy, Poland, and Japan. The book examines variations in the level and type of fund activity between countries, considers influences upon these variations, and analyses differences in the impact of these funds on labour and employment. This analysis is located in a broader discussion of the nature and development of corporate financialization and comparative capitalism. Financialization has supported the development and growth of these funds, and many aspects of these funds exemplify the process of financialization. Each chapter reports the evidence on the impact of these funds on labour and employment. Case studies conducted by the authors supplement other evidence. Much of the evidence shows that private equity funds can have adverse effects on labour, such as reductions in employment, but there is also evidence of more positive effects in some cases such as employment growth and adoption of high commitment human resource practices. There is much less evidence on the effects of activist HFs and SWFs, with the impact on labour typically being indirect. Between them, the chapters show that variations in national regulation have a significant impact on both the development of fund activities and their effects. With regard to labour effects, employment and labour regulations do not seem to be of prime importance in explaining the level of fund activity, but regulation supporting worker consultation and voice affects the capacity of labour representatives to influence the outcomes of fund activity on labour and employment.
Competitive pressure is essential to good economic performance. But many are concerned that it is waning. They say large firms are dominating markets, pushing up prices and profits, squeezing suppliers, and slowing growth in wages and productivity. They point to the consolidation of old industries and the rise of new ones dominated by large firms. Is competitive pressure in Australia weak? Is it waning? How costly to Australia is market power? This report assesses the evidence. It then proposes policies to increase competitive pressure.