Economics

Part I: A Generation of Reform

Political leadership in a democracy implies keeping oneself at the head of the flock, wherever it is drifting … the steady pedagogical urge to rationality in political questions must be provided largely by [other] people … In the institutional set-up of modern democracy, a function most important for its survival falls on the social scientists: the long-range intellectual leadership thrusting society forward to overcome primitive impulses … and to move in the direction of rationality.       Gunnar Myrdal, Value in Social Theory   A glance at Australian economic history, 1800–1972 Australian economic policy and performance over the past generation cannot be…

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