Jim Cairns was the only academic economist to become Treasurer. But despite his qualifications, even his own assessment was that his tenure as Treasurer was unsuccessful. While a driving force behind the 1974 budget, he was Treasurer for only seven months and was one of only a handful of...

Major shifts in the global economy — such as rapid growth in global commodity prices associated with the emergence of China and other countries — are leading to changes in Australia’s international income flows. This is attracting an increasing amount of attention as the net income deficit...