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How did Australia attain the world's highest living standards within a few decades of European settlement? And how has the nation sustained an enviable level of income to the present? Beginning with the Aboriginal economy at the end of the eighteenth century, Ian McLean reveals the striking elements of continuity that have underpinned the evolution of the country's economy since the nineteenth century. In this comprehensive account, McLean argues that Australia's prosperity was reached and maintained through several shifting factors, including British imperial policies, abundant natural resources, and strategic growth-enhancing responses to major economic shocks such as war and depression. Even the country's proximity to Asia and notorious origins as a convict settlement positively influenced Australia's remarkable development. Why Australia Prospered is a fascinating historical examination of how Australia cultivated and sustained economic growth and success.
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