Speech at the Annual Dinner of theEconomic Society of Australia,Canberra, December 2005
‘Is Macroeconomics Dead? Monetary
and Fiscal Policy in Historical Context
Review of Economic Policy Volume 21, Number 4, 2005
There are salad days of economicpolicy, when ordinary policy looksgood and good policy looks celestial.
And there are dog days, when goodpolicy looks ordinary and ordinarypolicy diabolical.
I said that we were then in the saladdays but the dog days would comewith the end of the resources boom.