Description:
With the recently released biography of A. W. H. Phillips by Alan Bollard (2016), this article focuses upon his time in Australia over two separate periods. This includes his sabbatical spent in Melbourne and Sydney in 1959 when he worked on an Australian version of his famous curve taking into account the different institutional background and then when he took up a professorial chair in economics at the Australian National University. Using new archival material the paper delves into both episodes and how Phillips career at the ANU was cut short by a major illness.
Description:
Economists, it seems, should be guarded about having their likeness taken for posterity. The end product is not as predictable as the legacies they leave behind. This article discusses such possibilities with the two portraits undertaken by two different artists of the leading figures of interwar and postwar Australian economics.
Description:
Economists, it seems, should be guarded about having their likeness taken for posterity. The end product is not as predictable as the legacies they leave behind. This article discusses such possibilities with the two portraits undertaken by two different artists of the leading figures of interwar and postwar Australian economics.
Description:
Seventy years ago a bizarre tragedy befell one of Australia’s most eminent economists just minutes after giving his evening lecture. This paper revisits the case of Edward Shann and, in particular, the forensic evidence that persuaded the coroner to conclude that he took his own life. The paper presents new evidence that might contest that finding. In doing so, a brief account is given of Shann’s illustrious career.
Description:
Seventy years ago a bizarre tragedy befell one of Australia’s most eminent economists just minutes after giving his evening lecture. This paper revisits the case of Edward Shann and, in particular, the forensic evidence that persuaded the coroner to conclude that he took his own life. The paper presents new evidence that might contest that finding. In doing so, a brief account is given of Shann’s illustrious career.
Description:
The Global Financial Crisis is likely to exert some impact upon the prevailing economic and political philosophy. The big question for economic and business instructors is to ponder whether it will lead to any significant changes in economic and business syllabus at Australian universities. The teaching of mainstream economics is durable and usually resistant to change. Yet the crisis has certainly caused rumblings in the teaching of first-year economics. There is certainly a great curiosity among the young about what went wrong. Moreover, they wish to know why neoliberalism has failed and why state intervention is resurgent. Young minds must be perplexed about the rapid revision of agenda from containing inflation in 2008 to coping with recession in 2009. This paper argues that an introductory course in the history of economic ideas could help tell them why.
Description:
Thirty years ago, in April 1975, Milton Friedman, came to Australia to declare that the world economic situation manifestly unsound.[1] Friedman asserted on that trip what Michael Kalecki predicted in his 1943 article would be the response of ‘captains of industry’ to Keynesian macroeconomic policies; it was that ‘…government expenditure financed by borrowing will cause inflation’ (Kalecki, 1990: 348). A chorus of Australian businessmen and mandarin economists came out in support of Friedman, leading to the demise of Keynesian macroeconomic policy and the rise of neo-liberal policies. Milton Friedman, at the time was the Paul Snowden Russell Distinguished Service Professor of Economics at the University of Chicago; and acknowledged head of the ‘Chicago School’ of monetary economics, called ‘monetarism’. A year later, in 1976, Friedman received the ‘Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel’, confirming his status in the financial community and the neo-liberal mainstream of the economics profession during this period. At the time he was also a regular contributor to Newsweek magazine.
Description:
Thirty years ago, in April 1975, Milton Friedman, came to Australia to declare that the world economic situation manifestly unsound.[1] Friedman asserted on that trip what Michael Kalecki predicted in his 1943 article would be the response of ‘captains of industry’ to Keynesian macroeconomic policies; it was that ‘…government expenditure financed by borrowing will cause inflation’ (Kalecki, 1990: 348). A chorus of Australian businessmen and mandarin economists came out in support of Friedman, leading to the demise of Keynesian macroeconomic policy and the rise of neo-liberal policies. Milton Friedman, at the time was the Paul Snowden Russell Distinguished Service Professor of Economics at the University of Chicago; and acknowledged head of the ‘Chicago School’ of monetary economics, called ‘monetarism’. A year later, in 1976, Friedman received the ‘Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel’, confirming his status in the financial community and the neo-liberal mainstream of the economics profession during this period. At the time he was also a regular contributor to Newsweek magazine.
Description:
Despite talk about the first sightings of the ‘green shoots of recovery’ the Global Financial Crisis which began to unfold in August 2007 is likely to exert some impact upon the prevailing economic and political philosophy. The big question for economic and business instructors is to ponder whether it will lead to any significant changes in economic and business syllabus at Australian universities. The teaching of mainstream economics is durable and usually resistant to change. Yet the crisis has certainly caused rumblings in the teaching of first-year economics. As one ABC reporter recently asked ‘How do you teach economics at a time like this?’ There is certainly a great curiosity among the young about what went wrong. Moreover they wish to know why neoliberalism has failed and why state interventionism is resurgent. Young minds must be perplexed about the rapid revision of agenda from containing inflation in 2008 to coping with recession in 2008. To paraphase the lyrics to the old Talking Heads song ‘Once in a lifetime’ ‘You may ask yourself, well… how did we get here?’ This is what they and we are asking themselves. This paper argues that an introductory course in economic ideas could help tell them why.
Description:
Despite talk about the first sightings of the ‘green shoots of recovery’ the Global Financial Crisis which began to unfold in August 2007 is likely to exert some impact upon the prevailing economic and political philosophy. The big question for economic and business instructors is to ponder whether it will lead to any significant changes in economic and business syllabus at Australian universities. The teaching of mainstream economics is durable and usually resistant to change. Yet the crisis has certainly caused rumblings in the teaching of first-year economics. As one ABC reporter recently asked ‘How do you teach economics at a time like this?’ There is certainly a great curiosity among the young about what went wrong. Moreover they wish to know why neoliberalism has failed and why state interventionism is resurgent. Young minds must be perplexed about the rapid revision of agenda from containing inflation in 2008 to coping with recession in 2008. To paraphase the lyrics to the old Talking Heads song ‘Once in a lifetime’ ‘You may ask yourself, well… how did we get here?’ This is what they and we are asking themselves. This paper argues that an introductory course in economic ideas could help tell them why.
Description:
While total undergraduate enrolments at Australian universities are increasing, enrolments in Economics are falling--a source of alarm for economists. By appealing to females, economics could effectively tap into the largest sector (58%) of the undergraduate student population. This study suggests that gender is contributing to the falling enrolments. Males need the prospect of money to entice them to study more economics but females require a connection between studying economics and employment opportunities. Providing visible role models may be a practical step to encouraging more females to read economics. More concentration on 'feminising economics' in the undergraduate curricula could help women to believe that they have a contribution to make to the discipline.
Description:
While total undergraduate enrolments at Australian universities are increasing, enrolments in Economics are falling--a source of alarm for economists. By appealing to females, economics could effectively tap into the largest sector (58%) of the undergraduate student population. This study suggests that gender is contributing to the falling enrolments. Males need the prospect of money to entice them to study more economics but females require a connection between studying economics and employment opportunities. Providing visible role models may be a practical step to encouraging more females to read economics. More concentration on 'feminising economics' in the undergraduate curricula could help women to believe that they have a contribution to make to the discipline.
Description:
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.
Description:
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.