Economic rationalism in Canberra 25 years on?

Abstract

This article, based on an edited transcript of a speech at The Australian Sociological Association (TASA) conference in Melbourne in December 2016, summarises the criticisms of ‘economic rationalism’, cum neoliberalism, that emerged from the ‘economic rationalism debate’ in Australia of the early 1990s to the present. Economic rationalism reversed Australia’s historic nation-building legacy. Free market neoliberal doctrines have captured the central Canberra policy-making apparatus and radically reduced the coordinating role of the state in most areas of public policy. Economic ‘reform’ is seen primarily as a political project led by international and domestic corporate interest groupings and aimed at the transformation of Australia’s institutions. The neoliberal orthodoxy continues to distort the policy process as it has become functionally indispensable for the process of policy making and government, despite its failing intellectual legitimacy.