An alternative history of Australia's political economy

This is an economic history of Australia. From its beginnings as a British penal colony in 1788 through a gold rush in the 1850's through a prolonged recession from 1890 to the outbreak of world war one. It then explores the inter war period when Australia was an impoverished nation with a huge war debt. The book then explores Australia's emergence after world war two as one of the wealthiest nations of the world on a per capita basis.

After Britain, Australia's largest trading partner joined the European Economic Union the country faced significant economic adjustment issues leading to recessions, unemployment. The trading adjustments made by Australia's business community with greater focus on East Asia. And the development of the service sector by State Premiers investing on infrastructure created a robust and resilient economy.

Australia withstood both the 2008 financial crisis and the Covid-Sars-11 better than many other developed countries, but faces future economic risks due to high levels of private consumer debt. This book explores and explains all these issues for a reader who has an interest in economics.