Jump to ContentJump to Main Navigation
Australian public policyProgressive ideas in the neo-liberal ascendency$
Users without a subscription are not able to see the full content.

Chris Miller and Lionel Orchard

Print publication date: 2014

Print ISBN-13: 9781447312673

Published to Policy Press Scholarship Online: May 2015

DOI: 10.1332/policypress/9781447312673.001.0001

Show Summary Details
Page of

PRINTED FROM POLICY PRESS SCHOLARSHIP ONLINE (www.policypress.universitypressscholarship.com). (c) Copyright Policy Press, 2022. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in PPSO for personal use.date: 05 July 2022

Macroeconomic policy after the Global Financial Crisis

Macroeconomic policy after the Global Financial Crisis

(p.45) Three Macroeconomic policy after the Global Financial Crisis
Australian public policy

John Quiggin

Policy Press

Since the mid-1970s, Australian economic policy has been dominated by market liberalism, also called neoliberalism and economic rationalism. Neoliberalism created the preconditions for the global financial crisis and, repackaged as ‘austerity’, ensured that the crisis became a sustained depression engulfing most of the developed world. Despite some promising initial responses, the crisis provoked no rethinking of the dogmatic commitment to small government, adopted in response to the perceived need to be seen as ‘economically conservative’. However, the failure of the microeconomic part of the market liberal agenda produced pressing needs for more government expenditure on health, education, environmental and infrastructure services. The resulting contradictions have produced an atmosphere of fiscal crisis, despite the strong performance of the economy as a whole.

Keywords:   macroeconomic policy, neoliberalism, economic rationalism, austerity, global financial crisis

Policy Press Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs, and if you can't find the answer there, please contact us.