Skip to main content
placeholder image

The economy

Chapter


Download full-text (Open Access)

Abstract


  • The rapid expansion and diversifi cation of the economy in the twentieth

    century brought immense wealth and many new opportunities to many

    Australians. Real per capita income grew nearly sixfold in the century following

    Federation. When the first federal parliament met on 9 May 1901, Australia

    was still suffering the effects of the 1890s downturn, and it would wait

    another seven years until average incomes returned to their pre-Depression

    peak of 1891. The following four decades were marked by the uncertainty

    surrounding two world wars and an inter-war Depression. Higher levels of

    real income began to be achieved by the mid-1930s but it was not until the

    second half of the century that incomes rose sharply over a long period that

    was briefly interrupted by the minor recessions of the early 1980s and early

    1990s.

Publication Date


  • 2013

Citation


  • Ville, S. (2013). The economy. In A. Bashford & S. Macintyre (Eds.), The Cambridge History of Australia Vol. 2 (pp. 377-402). Port Melbourne, Australia: Cambridge University Press.

Ro Full-text Url


  • http://ro.uow.edu.au/cgi/viewcontent.cgi?article=1229&context=buspapers

Ro Metadata Url


  • http://ro.uow.edu.au/buspapers/227

Book Title


  • The Cambridge History of Australia Vol. 2

Start Page


  • 377

End Page


  • 402

Place Of Publication


  • Port Melbourne, Australia

Abstract


  • The rapid expansion and diversifi cation of the economy in the twentieth

    century brought immense wealth and many new opportunities to many

    Australians. Real per capita income grew nearly sixfold in the century following

    Federation. When the first federal parliament met on 9 May 1901, Australia

    was still suffering the effects of the 1890s downturn, and it would wait

    another seven years until average incomes returned to their pre-Depression

    peak of 1891. The following four decades were marked by the uncertainty

    surrounding two world wars and an inter-war Depression. Higher levels of

    real income began to be achieved by the mid-1930s but it was not until the

    second half of the century that incomes rose sharply over a long period that

    was briefly interrupted by the minor recessions of the early 1980s and early

    1990s.

Publication Date


  • 2013

Citation


  • Ville, S. (2013). The economy. In A. Bashford & S. Macintyre (Eds.), The Cambridge History of Australia Vol. 2 (pp. 377-402). Port Melbourne, Australia: Cambridge University Press.

Ro Full-text Url


  • http://ro.uow.edu.au/cgi/viewcontent.cgi?article=1229&context=buspapers

Ro Metadata Url


  • http://ro.uow.edu.au/buspapers/227

Book Title


  • The Cambridge History of Australia Vol. 2

Start Page


  • 377

End Page


  • 402

Place Of Publication


  • Port Melbourne, Australia