Australian Left Review



Paul Keating's February One Nation statement represented a significant change of vision in the government's conduct of macroeconomic policy. It recognised both the need for a fiscal stimulus (by increased government spending) to a stagnant economy with an unacceptably high level of unemployment, and the importance of public infrastructure and social investment in providing enhanced national productive capacity. The statement's most startling feature, however, was the absence of any significant initiatives specifically directed at that problem which, for the last decade, has been Australia's chief policy preoccupation— the external constraint on domestic economic growth. One Nation's failure to attack this issue adequately, or even to acknowledge the failure of past policy strategies, highlights its inadequacy as a blueprint for future policy directions.



To view the content in your browser, please download Adobe Reader or, alternately,
you may Download the file to your hard drive.

NOTE: The latest versions of Adobe Reader do not support viewing PDF files within Firefox on Mac OS and if you are using a modern (Intel) Mac, there is no official plugin for viewing PDF files within the browser window.