Australian economics in the twentieth century

In this, the eightieth year of the formalisation of the Australian economics profession, a survey of it seems appropriate. While the profession's beginnings were marked by an idiosyncratic, heterodox tradition, the paper finds that those attributes have by now been largely dissolved by internationalisation. To demonstrate this, two periods in Australian economic history, and the role of economic opinion within each, are examined. One concerns the mobilisation of native economics expertise in developing policies to deal with the Great Depression, while the latter episode covers the rise of neo-liberal policy or economic rationalism in Australia. Unlike the interwar period and the post-war era, contemporary Australian economics, despite its policy success in reforming the economy has problems in attracting young minds to its fold.C