“Having this reliance on the bottom end of the economy, like small businesses, is a short-term fix,” said Andrew Hughes, a lecturer at the College of Business and Economics at Australian National University. “Cutting back on research is insanity.”
http://www.bloomberg.com/news/articles/2015-05-25/australia-dumbs-down-as-government-bets-on-baristas-over-brains / ANU Australia betting on plumbers coffee-shop owners scientists researchers drive nation’s next wave of economic growth refrigerators black-box flight recorders bionic ears Wi-Fi cut research budget tax cuts write-offs this year’s budget small firms buy equipment espresso machines lawnmowers plan build stronger more prosperous Australia government reducing spending budget shortfalls 30 percent drop in commodity prices end mining investment boom small businesses lifted consumer confidence boosted shares of retailers Harvey Norman Holdings Ltd. JB Hi-Fi Ltd. reliance on the bottom end of the economy small businesses short-term fix Andrew Hughes lecturer College of Business and Economics at Australian National University Cutting back on research is insanity counting on Calculators Organisation for Economic Cooperation and Development OECD Australia scientific enterprise transition into technology innovation and development Chief Scientist Ian Chubb declining levels of participation science mathematics students calculators jobs equire an understanding of science Australian school students underperform science mathematics tests high-income economy in Asia New Zealand 34-nation OECD power brains market China India Japan South Korea spend so much more research development think long-term global Innovation Industry and Science Minister Ian Macfarlane ranked 81st out of 143 global innovation efficiency measure, putting it close to average turning ideas to our advantage spending A$9 billion ($7 billion) a year on science budget shortfall predicted tax revenue collapse in iron ore prices low wage growth researcher Danielle Edwards A$385,000 research grant in Australia little prospect of further employment in her native country losing talent through lack of investment left science country government needs reverse job cuts to its national science agency CSIRO Commonwealth Scientific and Industrial Research Organisation better investment in science help future productivity James Harrison built the world’s first practical commercial refrigerator 1854 1990s of Wi-Fi John O’Sullivan’s radio-astronomy team CSIRO, Australia turning inventions into commercial successes bottom seven countries government spending research and development proportion of gross domestic product GDP OECD scoreboard lower-skilled careers employment Singapore South Korea students skipping university Singapore increasing R&D spending manufacturing shutdown stimulating economic renewal invest wealth-generating activities higher education research innovation /
