Australia's economic policies

It is significant to add to efficiency levels in the Australian economy. It is important to define accurately what we mean when we say efficiency. Do we mean technical efficiency and attempt to create our output at the minimum price maybe we mean to increase allocative efficiency and distribute resources throughout the economy better in accordance with the demands of consumers. We may even speak of dynamic efficiency and thus introduce new technology and new techniques in order to keep pace with changes in consumer required. However we cannot simply mean to increase one of these if we are to attain maximum efficiency throughout our economy they all must be increased in order to maintain an objective and efficient economy and to promote economic growth.
There are many policies to aid this that will be looked at during the course of this article including privatization, corporatisation, deregulation and a host of others.