This book is the first comprehensive account of how Australia attained the world's highest living standards within a few decades of European settlement, and how the nation has sustained an enviable level of income to the present. Why Australia Prospered is a fascinating historical examination of how Australia cultivated and sustained economic growth and success. Beginning with the Aboriginal economy at the end of the eighteenth century, Ian McLean argues that Australia's remarkable prosperity across nearly two centuries was reached and maintained by several shifting factors. These included imperial policies, favorable demographic characteristics, natural resource abundance, institutional adaptability and innovation, and growth-enhancing policy responses to major economic shocks, such as war, depression, and resource discoveries. Natural resource abundance in Australia played a prominent role in some periods and faded during others, but overall, and contrary to the conventional view of economists, it was a blessing rather than a curse. McLean shows that Australia's location was not a hindrance when the international economy was centered in the North Atlantic, and became a positive influence following Asia's modernization. Participation in the world trading system, when it flourished, brought significant benefits, and during the interwar period when it did not, Australia's protection of domestic manufacturing did not significantly stall growth. McLean also considers how the country's notorious origins as a convict settlement positively influenced early productivity levels, and how British imperial policies enhanced prosperity during the colonial period. He looks at Australia's recent resource-based prosperity in historical perspective, and reveals striking elements of continuity that have underpinned the evolution of the country's economy since the nineteenth century.

Australia's economic history is the story of the transformation of an indigenous economy and a small convict settlement into a nation of nearly 23 million people with advanced economic, social and political structures. It is a history of vast lands with rich, exploitable resources, of adversity in war, and of prosperity and nation building. It is also a history of human behaviour and the institutions created to harness and govern human endeavour. This account provides a systematic and comprehensive treatment of the nation's economic foundations, growth, resilience and future, in an engaging, contemporary narrative. It examines key themes such as the centrality of land and its usage, the role of migrant human capital, the tension between development and the environment, and Australia's interaction with the international economy. Written by a team of eminent economic historians, The Cambridge Economic History of Australia is the definitive study of Australia's economic past and present.

With the global economy in crisis, there is great need for a deeper understanding of Australia's economic place in the world – both today and throughout history. This new edition of Barrie Dyster and David Meredith's highly successful book is fully updated and includes three new chapters covering until the end of 2011. The book explores the evolution of Australia's position in the global economy from the start of the twentieth century through to the present day, examining the international and local economies of five key historical periods. With a focus on trade, foreign investment and immigration, the book considers periods both of growth and decline. By using historical perspectives to explain the present and give direction to the future, this unique book presents a rich account of Australia's position within a global economic context. It is an essential resource for students and lecturers of Australian economic history.

The authors trace the relationship between Australia's economic well being and the international economy from the late nineteenth-century onwards. This book fills the need for an introductory text in this area for undergraduate students of economics, politics and history and for the general reader who wishes to understand how the Australian economy operates.

In this in-depth overview of Australia's economy, Michael Enright and Richard Petty — leading scholars on international competition—look at the data behind the news reports to offer a complete view of Australia's stable and wealthy economy. The book compares Australia with other similarly sized OECD economies as well as other Asia-Pacific economies and looks at fifteen international sources of data on competitiveness. It features a large-scale survey on Australian companies and offers deep insight on the country's future in terms of economics and economic policy. Revealing an honest assessment of Australia's true position in the world, the book looks at how Australian businesses see themselves and offers policy positions for government and firms to make the most of Australia's unique global economic position. Backed by CPA Australia, one of the world's largest accounting bodies Written by two global authorities on economic competitiveness Captures the thinking of more than 6,000 business leaders both within and outside of Australia Explains how Australia has weathered the global recession and looks at Australia's relationship with China For business leaders and policy makers in need of an in-depth look at the current and future state of Australia's economy, this book offers valuable and comprehensive information.

In this Very Short Introduction Kenneth Morgan provides a wide-ranging and thematic introduction to modern Australia. He examines the main features of its history, geography, and culture since the beginning of the white settlement in New South Wales in 1788. Drawing attention to the distinctive features of Australian life he places contemporary developments in a historical perspective, highlighting the importance of Australia's indigenous culture and making connections between Australia and the wider word. Balancing the successful growth of Australian institutions and democratic traditions, he considers the struggles that occurred in the making of modern Australia. ABOUT THE SERIES: The Very Short Introductions series from Oxford University Press contains hundreds of titles in almost every subject area. These pocket-sized books are the perfect way to get ahead in a new subject quickly. Our expert authors combine facts, analysis, perspective, new ideas, and enthusiasm to make interesting and challenging topics highly readable.

The COVID-19 pandemic has forced countries around the globe into lockdown, imposing trade and travel restrictions with devastating economic impacts on all sectors of the economy. In working toward greater economic stability, Australia has been strengthening its trade relations with other countries, which is reflected through its increased strategic relations with India. However, it is now essential to explore how Australia is working to further expand its collaboration with other South Asian countries and find new markets and opportunities for trade, investment, tourism, international education, and business dealings for its resources, services, manufacturing, and technology sectors. Strategic Cooperation and Partnerships Between Australia and South Asia: Economic Development, Trade, and Investment Opportunities Post COVID-19 provides an overview of the Australian trade and investment relationship with South Asian countries and identifies the trends and developments of bilateral trade agreements in strategic areas of trade, tourism, investment, education, prior and post COVID-19. Covering topics such as international trade, climate change policy, and macroeconomics, it is ideal for policymakers, practitioners, industry professionals, government officials, academicians, researchers, instructors, and students.

Inclusive Growth in Australia overturns two decades of assumptions that social policy is wasteful and a source of dependency. It reflects a global resurgence of the understanding that an active and effective social policy regime is vital not only for a flourishing society, but also for a strong economy. It explains this new paradigm of inclusive growth and shows how it can be implemented in Australia. Inclusive growth dismantles the idea that social development will automatically trickle down from untrammelled market based growth. Rather, growth must be managed so that it is employment centred, broad based across sectors and with a social security system promoting sustainability and equality of opportunity. The editors argue that productivity is 'nearly everything' when it comes to raising living standards. So while social policies will be about goals other than the economy, they must demonstrate their compatibility with an economic growth strategy. With contributions from leading national and international experts in the field including Marian Baird, Grant Belchamber, Gerald Burke, Saul Eslake, Roy Green and Peter Whiteford, Inclusive Growth in Australia shows that 'welfare state' spending is as much an economic investment as a measure of social protection. Written for policy makers, industry and NGOs as well as students, Inclusive Growth in Australia locates Australian economic and social policy within the most important emergent themes shaping international debate.

The fall of the Berlin Wall and the disintegration of the Soviet Union were only two of the many events that profoundly altered the international political system in the late 1980s and early 1990s. In a world no longer dominated by Cold War tensions, nation states have had to rethink their international roles and focus on economic rather than military concerns. This book examines how two middle powers, Australia and Canada, are grappling with the difficult process of relocating themselves in the rapidly changing international economy. The authors argue that the concept of middle power has continuing relevance in contemporary international relations theory, and they present a number of case studies to illustrate the changing nature of middle power behaviour.