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Niemeyer, Scullin And The Australian Economists

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  • Alex Millmow

Abstract

This article revisits the Niemeyer mission to Australia in 1930 and shows how it facilitated the entry of local economists into the art of policy making. Until then the Scullin government had little regard for the worth of academic economists, a view shared by bankers and central bankers alike. With Niemeyer's dogmatic advice considered too draconian by a vacillating government, Australian economists, led by L. F. Giblin and D. B. Copland, were galvanised into providing a more palatable alternative. This advice eventually transformed into the Premiers’ Plan which complemented the devaluation and wage cut, both of which had been implemented in January 1931. While the Plan in its entirety was deflationary it was a more equitable and imaginative blueprint than Niemeyer’s.

Suggested Citation

  • Alex Millmow, 2004. "Niemeyer, Scullin And The Australian Economists," Australian Economic History Review, Economic History Society of Australia and New Zealand, vol. 44(2), pages 142-160, July.
    • Handle: RePEc:bla:ozechr:v:44:y:2004:i:2:p:142-160
    DOI: 10.1111/j.1467-8446.2004.00114.x
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