The Mackenzie Institute believes that Australia’s economy has become “hollowed out” by a misguided belief that universities must be research intensive, as well as policies that preference higher education over vocational alternatives:
In a paper coinciding with its launch, the institute condemns the 2008 Bradley review – which spawned Australia’s recently abandoned demand-driven system of higher education funding – for producing a glut of graduates and exacerbating the funding decline in vocational training, particularly among public technical and further education colleges.
The paper blames the Bradley review for cultivating one of the worst skills mismatch profiles in the world. It cites figures showing that Australia ranks sixth among 33 Organisation for Economic Cooperation and Development nations for “high skills” development, but 27th for technical skills.
