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Macroeconomic Policy for Australia in the 1990s

In: Selected Essays on Economic Policy

Author

Listed:
  • G. C. Harcourt

    (Jesus College
    University of Adelaide)

Abstract

As I was called a squib for not setting out systematically the detailed ingredients of a middle way in the Donald Horne Address in February 1992,1 I must try to do better this time. One reason why I ‘squibbed’ was because I believed (I still do) that a necessary prerequisite was to analyse the implications of important markets — those for labour, property, foreign exchange, financial assets — not behaving in a socially optimum manner as the textbooks would have it. Only then would it be possible to think about policies which were designed to deal with the many byproducts of their individual and collective impacts on the working of the Australian economy. Moreover, as I had been away from Australia for nearly ten years, I thought it would have been a bit of a cheek to arrive home giving detailed advice as I stepped off the plane, as opposed to raising key issues and identifying real problems in a more general way. I did make some specific suggestions in my Horne Address whenever I felt I was competent to do so.

Suggested Citation

  • G. C. Harcourt, 2001. "Macroeconomic Policy for Australia in the 1990s," Palgrave Macmillan Books, in: Selected Essays on Economic Policy, chapter 17, pages 247-254, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-51056-2_17
    DOI: 10.1057/9780230510562_17
    as

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