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Beyond the boom

25 June 2014   |   Lowy Institute Papers   |   By Dr John Edwards

In a Lowy Institute Paper, Dr John Edwards, Nonresident Fellow at the Lowy Institute, challenges the pessimism about the Australian economy. In Beyond the Boom, published by Penguin Australia, Edwards shows that the mining boom is far from over – and that it hasn’t been as important for Australian prosperity as widely believed. He argues that much needs to be done to equip Australia to perpetuate its prosperity. In tackling these challenges, however, Australia comes from a position of strength rather than weakness.

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Strip coal mining
Key Findings
Australia’s mining boom is far from over – although it has not been as important for Australian prosperity as widely believed.
Much needs to be done to equip Australia to perpetuate its prosperity, but in tackling these challenges Australia comes from a position of strength.
The future of the Australian economy won’t be in what Australia digs, but in what it grows, makes and, above all, in the services it provides.

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    Beyond the boom is available to purchase from all good bookstores ($9.99) and online. An e-book version ($3.99) is also available. The Lowy Institute's Bligh Street headquarters has a limited number of copies available for purchase at our reception.

    CONTENTS

    Perplexed nation .............................................................. 1

     

    Part  One

    The boom and after............................................................15

    What boom was that?......................................................... 22

    Exports, mining, production............................................... 26

    Estimating the resource economy....................................... 29

    Mining income and what happens to it ...............................34

    Did the Australian government waste the boom?..................39

    Feckless Australians?...........................................................53

    The biggest terms of trade boom in history...........................59

    Can Australia adjust to the end of the

    mining investment boom? ...................................................67

    How the mining boom will change ..................................... 73

     

    Part Two

    Quiet boom .........................................................................81

    The black armband view of Australian

    economic history..................................................................85

    What we need for continued prosperity.................................92

    Much of what we need, we have..........................................102

     

    Part  Three

    Perpetuating success ............................................................111