Remaking Australia’s Economic Policy: Economic Policy Decision‐Makers During the Hawke and Keating Labor Governments

Abstract

This paper reports on interviews with 93 members of strategically located institutional elites and nominated influentials. It examines the sources of economic ideas in economic policy and studies a select number of key economic policy decisions made during the Labor governments of Hawke and Keating. It will argue that the economic liberalisation carried out during the Labor government reflected the influence of a range of individuals and institutions, depending on the economic decision in question, while a variety of domestic and internationally based institutions and individuals contributed ideas to economic policy‐making. It will reject Pusey's (1991) belief that the central agencies (ie Treasury, the Department of Finance and the Department of Prime Minister and Cabinet) were necessarily the major influence in economic policy and show that other individuals and institutions, including cabinet and particular ministers, ministerial offices, the ACTU and other government departments, were also important. It will discuss further how economic policy is made in Australia.