PC Book Inquiry Quantitative Materials
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The quantitative materials for the PC inquiry on parallel imports is out. In my last post on their draft report, I mistakenly thought that it was devoid of such analysis but, in fact, it had just not been released. The quantitative materials demonstrate that Australians consistently pay more, even for best selling titles, than their US and UK counterparts.
More interestingly, the PC found that 38 percent of the top 5000 selling books in Australia were Australian authored. The tough part is working out what this means but the PC does some estimates that suggest the benefits to foreign authors from parallel import restrictions are proportionately higher than for Australians.
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In regard to the Productivity Commission (but not books), I was troubled to read about the depletion of Australia’s mineral deposits in the working paper on Productivity in the Mining Industry that came out just before Christmas. I don’t know if this blog has had a post on this, but the gold is nearly all gone, copper and silver-lead-zinc ore qualities are declining, and increasing investment will be needed to prepare coal and iron ores for export.