Empowered Unions, High Wages Will Kill Australian Economy

By International Business Times,  July 03, 2012, 01:37:24 AM EDT

Too much of a good thing could also very well be a bad thing. While it is great that Australia's workers are empowered and can readily bargain their labour and wage demands, this very freedom could actually turn off potential investors and kill the economy of the tiny island-nation.

Martin Ferguson, Australian resources minister, said the wage claims that Australian unions demand these days were "unsustainable" and could risk in the long run future investments in the country's resources sector.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


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