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Why Australia Prospered: The Shifting Sources of Economic Growth (The Princeton Economic History of the Western World Book 43) by Ian W. McLean is a nonfiction available to read on EtoBox.

What is Why Australia Prospered: The Shifting Sources of Economic Growth (The Princeton Economic History of the Western World Book 43) about?

This 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. Why Australia Prospered 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. 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

Who reads Why Australia Prospered: The Shifting Sources of Economic Growth (The Princeton Economic History of the Western World Book 43)?

Author

Ian W. McLean

Publisher

Princeton University Press

Published

2012

Language

EN

ISBN

9780691171333

Category

nonfiction

Subjects

History, Management, Business