{"product_id":"why-australia-prospered-the-shifting-sources-of-economic-growth-paperback","title":"Why Australia Prospered: The Shifting Sources of Economic Growth - Paperback","description":"\u003cdiv\u003e\u003cp style=\"text-align: right;\"\u003e\u003ca href=\"https:\/\/reportcopyrightinfringement.com\/\" target=\"_blank\" rel=\"nofollow\"\u003e\u003cb\u003eReport copyright infringement\u003c\/b\u003e\u003c\/a\u003e\u003c\/p\u003e\u003c\/div\u003e\u003cp\u003eby \u003cb\u003eIan W. McLean\u003c\/b\u003e (Author)\u003c\/p\u003e\u003cp\u003e\u003c\/p\u003e\u003cp\u003eThis book is the first comprehensive account of how Australia attained the world's highest living standards within a few decades of European settlement, and how the nation has sustained an enviable level of income to the present. \u003ci\u003eWhy Australia Prospered\u003c\/i\u003e is a fascinating historical examination of how Australia cultivated and sustained economic growth and success. Beginning with the Aboriginal economy at the end of the eighteenth century, Ian McLean argues that Australia's remarkable prosperity across nearly two centuries was reached and maintained by several shifting factors. These included imperial policies, favorable demographic characteristics, natural resource abundance, institutional adaptability and innovation, and growth-enhancing policy responses to major economic shocks, such as war, depression, and resource discoveries. \u003c\/p\u003e\u003cp\u003e\u003c\/p\u003e Natural resource abundance in Australia played a prominent role in some periods and faded during others, but overall, and contrary to the conventional view of economists, it was a blessing rather than a curse. McLean shows that Australia's location was not a hindrance when the international economy was centered in the North Atlantic, and became a positive influence following Asia's modernization. Participation in the world trading system, when it flourished, brought significant benefits, and during the interwar period when it did not, Australia's protection of domestic manufacturing did not significantly stall growth. McLean also considers how the country's notorious origins as a convict settlement positively influenced early productivity levels, and how British imperial policies enhanced prosperity during the colonial period. He looks at Australia's recent resource-based prosperity in historical perspective, and reveals striking elements of continuity that have underpinned the evolution of the country's economy since the nineteenth century.\u003ch3\u003eBack Jacket\u003c\/h3\u003e\u003cp\u003e\u003c\/p\u003e\u003cp\u003e\"Looking at a period spanning two hundred years, this book explores why Australia was so rich at the end of the nineteenth century and why it has remained rich. McLean shows how history sheds light on Australia's long-run economic performance and he cogently discusses the contributions and limitations of formal theory in explaining Australian growth.\"\u003cb\u003e--George Grantham, professor emeritus, McGill University\u003c\/b\u003e\u003c\/p\u003e\u003cp\u003e\"This exceptionally well-written book explains why Australia has been almost continuously prosperous since the first settlement. A truly deep study of the mechanisms of economic growth, it is a top-rate contribution to its field and will become the standard work on Australian economic history.\"\u003cb\u003e--Eric Jones, professor emeritus, La Trobe University\u003c\/b\u003e\u003c\/p\u003e\u003ch3\u003eAuthor Biography\u003c\/h3\u003e\u003cp\u003e\u003cb\u003eIan W. McLean\u003c\/b\u003e is a visiting research fellow in economics at the University of Adelaide, where he taught for many years.\u003c\/p\u003e\n            \u003cdiv\u003e\n\u003cstrong\u003eNumber of Pages:\u003c\/strong\u003e 300\u003c\/div\u003e\n            \u003cdiv\u003e\n\u003cstrong\u003eDimensions:\u003c\/strong\u003e 0.8 x 9.1 x 6.1 IN\u003c\/div\u003e\n            \u003cdiv\u003e\n\u003cstrong\u003ePublication Date:\u003c\/strong\u003e May 24, 2016\u003c\/div\u003e\n            ","brand":"BooksCloud","offers":[{"title":"Default Title","offer_id":52299417747730,"sku":"9780691171333","price":44.64,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0941\/2211\/5346\/files\/OXJIcitlTk5GKzE1VjNuclZWZG5Edz09.webp?v=1779839601","url":"https:\/\/ckbookstore.net\/products\/why-australia-prospered-the-shifting-sources-of-economic-growth-paperback","provider":"CK BOOKSTORE","version":"1.0","type":"link"}