Saturday, July 10, 2010

Absent Culture, Absent Productivity

We are lousy at understanding, seeding and growing culture. We have only one response to change. Adapt and work harder. I wonder how quickly we can adapt and how much harder we can work, which must take resources away from other life's essentials.

When LKY experimented with labor cost inflation in the 80s we failed to upgrade and entered a severe recession. Now they are raising foreign workers' levies to force companies to raise productivity. I doubt it would work. Too many would just sit and go out of business. We only raise productivity when we have the government to show us the measures we might take. Faster, Cheaper and Better are just too vague.

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