An economic solution would:
- Achieve economy wide, real productivity improvement, greater than inflation itself.
Therefore enabling some real wage growth independent of population or debt growth.
- Be independent of government policy change risk, implementation and reliability issues.
This does not mean we are against government in general.
- Require the smallest possible change for the greatest possible benefit.
And most likely would:
- Be driven by the people themselves.
- Start at the point closest to stagnated wages being the wage earner themselves.
- Achieve productivity improvements of somewhere close to 10% p.a. to enable wage real wage growth of 1-2%.
And to be effective would need to:
- Need to be financially sustainable without government assistance.
- Would have low barriers to entry and operation for the vast majority of the Australian economy.
- Produce real cash benefits above an beyond cash outlays in a consistent and reliable fashion.
Therefore, most likely would also:
- Use significant technology, to serve effective numbers of the economy in a reliable fashion.
- Not cost much 'more than a phone plan' per employee to limit intial implementation costs and cash flow issues.
- Remove issues limiting and surrounding individual employee productivity.
- Not require more management time in almost any way shape or form.
- Would turn every employee into an effective agent for productivity improvement.
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