Professor Ray Ball gives a personal interpretation of the historical roots of Australia’s economic malaise.

Signs of pessimism are plentiful in Australia. These signs, many of which are surveyed here, appear to reflect not just adverse short-tern economic news, but something more basic in Australian Society. There is a lack of confidence in dealing with changes afoot in the world that is the consequence of Australians having been sheltered historically from responsibility for their own economic futures. Dependence has led to inability to adapt, hence the current pessimism.

Looking Forward beyond the current pessimism, Professor Ball sees ‘the patient and creative work needed to rebuild the very fabric of Australian Society’