Benchmarking: a socio‐economic interrogation of its global‐local disconnect

Purpose – To examine how the construction of benchmarks influences the discourse of national productivity, and hence shed light on the competitive‐interdependent relationship between global capital and domestic labour. Design/methodology/approach – A study of a government inquiry into the Australian automotive industry (in 1996) is used to argue that the formulation of socially conscionable public policy is made more difficult by the international legitimisation of benchmarks. Findings – The inclusion of structural factors will mitigate the power of accounting discourse to normalise behaviour because it gives rise to glaring discrepancies between shared experiences and accounting's inscribed reality. The inscribed reality is distorted by the decontextualised nature of benchmarks. Further, the global legitimisation of benchmarks makes it more difficult for the state to disregard their influence. Originality/value – Combines, compares and re‐evaluates earlier literature and studies. Leaves the door open for the practice of benchmarking to emphasise a process of establishing sustainable local goals, rather than a means of institutionalising a dominant mode of production across the globe.