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Author Millmow, Alex.

Title The power of economic ideas : the origins of macroeconomic management in Australia, 1929-39 / Alex Millmow.

Imprint Acton, A.C.T. : ANU E Press, 2010.


Location Call No. OPAC Message Status
 Axe JSTOR Open Ebooks  Electronic Book    ---  Available
Description 1 online resource
text txt rdacontent
computer c rdamedia
online resource cr rdacarrier
data file
Bibliography Includes bibliographical references.
Contents The triumph of the economists? -- Part I. Backing into the limelight: the interwar Australian economics profession. Economic ideas and an assessment of Australian economists in the 1930s -- The Australian economy during the Depression decade -- The interwar Australian economics profession -- Part II. Triumph and tribulation. The Premiers' Plan and the economists -- The agonistes of the economists, 1931-1932 -- The Australian recovery, 1933-1936 -- Part III. The march of Keynesian ideas. The Royal Commission on Monetary and Banking Systems -- Australia, 1936-1938: the nascent Keynesian state? -- The economics of near-war.
Summary Economics, Keynes once wrote, can be a 'very dangerous science'. Sometimes, though, it can be moulded to further the common good though it might need a leap in mental outlook, a whole new zeitgeist to be able do do. This book is about a transformation in Australian economists' thought and ideas during the interwar period. It focuses upon the interplay between economic ideas, players and policy sometimes in the public arena. In a decade marked by depression, recovery and international political turbulence Australian economists moved from a classical orthodox economic position to that of a cautious Keynesianism by 1939. We look at how a small collective of economists tried to influence policy-making in the nineteen-thirties. Economists felt obliged to seek changes to the parameters as economic conditions altered but, more importantly, as their insights about economic management changed. There are three related themes that underscore this book. Firstly, the professionalisation of Australian economics took a gigantic leap in this period, aided in part, by the adverse circumstances confronting the economy but also by the aspirations economists held for their discipline. A second theme relates to the rather unflattering reputation foisted upon interwar economists after 1945. That transition underlies a third theme of this book, namely, how Australian economists were emboldened by Keynes's General Theory to confidently push for greater management of economic activity. By 1939 Australian economists conceptualized from a new theoretic framework and from one which they advanced comment and policy advice. This book therefore will rehabilitate the works of Australian interwar economists, arguing that they not only had an enviable international reputation but also facilitated the acceptance of Keynes's General Theory among policymakers before most of their counterparts elsewhere.
Language English.
Subject Keynesian economics.
Australia -- Economic conditions -- 1929-1939.
Economic history.
Economics, finance, business and management.
BUSINESS & ECONOMICS -- Economics -- Microeconomics.
Economic history. (OCoLC)fst00901974
Keynesian economics. (OCoLC)fst00987025
Macroeconomics. (OCoLC)fst01005221
Australia. (OCoLC)fst01204543
Chronological Term 1929-1939
Indexed Term australia.
economic conditions.
Genre/Form Electronic books.
History. (OCoLC)fst01411628
Other Form: Print version: Millmow, Alex. Power of economic ideas. Acton, A.C.T. : ANU E Press, 2010 9781921666261 1921666269 (OCoLC)757013216
ISBN 9781921666278 (electronic bk.)
1921666277 (electronic bk.)
9781921666261 (print version)
1921666269 (print version)
Standard No. 10.26530/OAPEN_459452 doi
NZ1 13315214
AU@ 000059668027
GBVCP 1008654272
GBVCP 865744726

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