Westpac's Luci Ellis has a contrarian take on our biggest economic puzzle
Many blame a lack of government reform for Australia's flagging productivity. But Luci Ellis isn't convinced.
Former RBA assistant governor and newly appointed Westpac chief economist Luci Ellis has a different take on one of the most bewildering puzzles plaguing the Australian economy: our inability to re-ignite productivity growth.
And, in her view, the United States may provide some clues about how to find a solution.
“There does seem to be a bit of a presumption that the private sector can't move forward unless you have another golden age of reform, and productivity is something that government does to you,” Ellis tells Capital Brief in a wide-ranging interview.
“You've got to remember, the United States doesn't have a Productivity Commission, doesn't have a particularly effective tax system, doesn't have good infrastructure. And yet it has the highest productivity level of anyone," she says.
