Macroeconomic Policy in Australia Since the Sixties
This article reviews macroeconomic policy in Australia since the 1960s. It is argued that economic thinking by Australian governments progressed from a Keynesian approach to a classical approach in 1975 and then to a Keynesian-classical synthesis in 1983. To the usual major indicators of macroeconomic performance, unemployment and inflation, the article adds a third indicator, called thrift. Thrift is a measure of how society is allocating its resources between current and future consumption. The record of thrift for Australia since the 1960s is described and evaluated. Copyright 1985 The University of Melbourne, Melbourne Institute of Applied Economic and Social Research.
Year of publication: |
1985
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Authors: | McDonald, Ian M. |
Published in: |
Australian Economic Review. - Melbourne Institute of Applied Economic and Social Research (MIAESR). - Vol. 18.1985, 3, p. 6-19
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Publisher: |
Melbourne Institute of Applied Economic and Social Research (MIAESR) |
Saved in:
freely available
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