A Polanyian Perspective on the Conflict Between Neoliberal Economics and Countrymindedness in Australian Drought and Water Policy

Abstract

This article evaluates the successes and failures of Australian drought and water policy reforms. By analysing the influence of the ideas central to neoliberal economics and countrymindedness on the development and implementation of the National Drought Policy and the Murray Darling Basin Plan, we illustrate that drought and water policy reforms in Australia can be explained in the context of Karl Polanyi's double movement theory. We demonstrate that founding Australia's agricultural policy on economic assumptions is unlikely to be well‐received in a nation that exhibits widespread sympathy for the plight of agricultural producers. As such, we postulate that neoliberal agricultural policies that ignore the relevant social and historical context will be unpopular and vulnerable to a countermovement that undermines the intent and hinders the implementation of the policy.