F.H.G. Gruen: 192 1-97

THE ECONOMIC RECORD. VOL. 74, NO. 225. JUNE IWX. IX6-IY3

BRUCE CHAPMAN* Centre for Economic Policy Research. Australia National University. Canberra. ACT 0200

Economics Society of Australia Distinguished Fellow 1997 Fred Gruen was awarded the 1997 Economics Society of Australia Distinguished Fellow for his contribution to the Australian economics profession. Throughout his life Professor Gruen's writin

VINCE FITZGERALD Chairniun I997 Selection Committee

Professor F.H.G. (Fred) Gruen died in Canberra elected to the Academy of Social Sciences in on 29 October 1997. For much of his academic Australia in 1970, and was its President from career Fred held ANU's Research School of 1975-78. In 1986 he was awarded the Order of Social Sciences chair in economics and used it to Australia for contributions to education. He great effect to nurture and guide both academic received the Distinguished Fellowship Award of and policy debate in economics. In these capaci- the Economic Society of Australia in 1997. Fol- ties, and because of the way he was. he was an lowing Fred's death, the Australian National icon of our profession. University's Vice-Chancellor. Professor Deane In terms of formal recognition, he was the Pres- Terrell, announced the endowment of a Chair in ident of the Australian Agricultural Economics Economic Policy as a memorial to him. Fred Society from 1961 to 1962. the President of the Gruen was one of the most broadly appreciated Victorian Branch of the Economic Society of and recognized economists in Australia. Australia and New Zealand in 1970, and its national President from 1984 to 1986. He was (i)Fred Gruen's Early Personal Background For those of us with unremarkable histories, * The author is grateful to a very large number of Fred Gruen's youthful experiences are people who helped in putting together the obituary, extraordinary. Heinz Amdt. Max Corden, Steve Dowrick, Ann Gruen Born in Austria in 1921. he had Jewish parents and Sue Richardson in particular. The author is wholly who operated a small business that went broke responsible for the contents. when Fred was a youngster. His parents separated

186 1998. The Economic Society of Australia. ISSN 0013-0249. I WH F.H.G. GRUEN: 1921-97 I87

links, learning a new language unaided, and with almost no long-term acquaintances. He was soon deporteddestination unknown (the rumours included Canada and Bermuda)-and eventually he ended up in an even stranger country, almost as far away as possible from his former home. What an understatement it must have been when Fred described his younger days as 'fairly lonely and unhappy'. The remarkable thing is that such a consummately well-adjusted, successful and secure adult developed from beginnings as traumatic as his. Maybe where we come from does not determine where we end up after all? Fred was put on the 'Dunera', a ship now famous in Australian immigration history because of the unusual professional success of its relucisnt occupants. With about loo0 internees the Dunera docked at Sydney, Australia, in July 1940. and they were taken to a camp in Hay, NSW. Thus began Fred Gruen's life in Australia. It became a classic example of what the country can do for the immigrnnt and what the immigrant can do for the country. F.H.G. Gruen Australia surprised him, and he wrote about it in his autobiography in the following terms: when Fred was about IS years old. and not long after his father died. Apart from this feeling that one had been In the highly disciplined and unimaginative transported away from the world which was educational environment of his early teenage blowing itself to smithereens, there was a great years, Fred performed poorly. He resented and feeling of strangeness: the brighter daylight, the resisted rote learning approaches. often preferring guards' slouch hats we had never seen before, ice skating. Later. attending a more liberal Aus- the unusual landscape-few conifers or decid- trian high school, he did better but was not a star. uous trees-and finally the increasing sparse- No one would have predicted the intellectual and ness of the vegetation as we travelled west by economic policy intluence of his future. train for what seemed like an eternity.' Assisted by an inheritance of about two hundred In Hay internees had a lot of choice about their pounds, Fred was moved to a private English use of time. playing chess and table tennis, and school in 1937. On arrival, knowing no English. exploring educational options. Fred described this Fred resoned to Latin to communicate with the period quite positively. Perhaps this is because a teacher who met him. but he was the Physical large number of those interned were academically Education Master who had no classics oriented, and there is no doubt that his experience background! with those in the camp directed him towards intel- About then Fred's mother was taken to a con- lectual pursuits. It is certainly true that he became centration camp and she later perished at Ausch- interested in university study and began-by cor- witz. His sense of alienation and his tribulations respondence-a Bachelor's degree at the Univer- continued with the 'internment' policy which sity of Melbourne. began in England in 1940. In this program those from Germany or German-occupied territory were categorized in terms of risk, with Fred being con- (ii) Fred Gruen's Career sidered to be in the moderately high group After the war, Fred graduated in Economics (because he had been writing to his mother), and from Melbourne University. He moved to Sydney he was put in detention. and worked with the NSW Department of Agri- Thus as a teenager the Austrian Fred Gruen found himself in England with no close family I Gruen. 1988a, page 7. I88 ECONOMIC RECORD JUNE culture as a research economist for about twelve agricultural economics and in 1973 he took leave years. He was good at this job, but wanted to from ANU to become a Consultant to the Prime pursue more academic pursuits. Seeking education Minister, Gough Whitlam. He put into effect the and greater intellectual freedom, he took leave to suggestion of Heinz Arndt. Alf Rattigan and study in the USA. taking Masters Degrees at the others that there should be a tariff cut, and this Universities of Wisconsin and Chicago in 1950-5 I. was done at the level of 25 per cent across-the- Chicago then had the best economics talent in board. in July 1973. It was a policy initiative the world, with Tjalling Koopmans. Kenneth applauded by the Australian economics commu- Arrow, Frank Knight, D. Gale Johnson, Jacob nity, and is a significant milestone of economic Marschak. Lloyd Metzler. Friedrich von Hayek. reform that pleased Fred unreservedly. Milton Friedman and Theodore Schultz on the In 1975. back at the ANU, Fred was clearly in staff. What an extraordinary environment it must the business of promoting Australian economics. have been for a budding and enthusiastic young He saw his Chair as a national one. and he was a economist. regular and enthusiastic participant in innumerable In the early 1950s Fred returned to the NSW conferences. He seemed to know everybody in Department of Agriculture. In 1957 he became a economics, which helped considerably in his part-time lecturer at the University of Sydney. and organization and editing of the watershed three- in 1959 he moved to the Research School of volume Siirveys uf Airstralian Economics, pub- Social Sciences at the ANU. There he worked lished over 1978-83. They covered, among other with one of the best ever Australian economic areas. the economics of health and education. minds, Trevor Swan, and some of his new recruits immigration, resource economics, income distri- included Wilfred Salter and lvor Pearce. bution, and taxation. and started or established the In 1964. he was appointed to the Chair of Agri- careers of a host of young economists. Thc series cultural Economics at Monash University, and remains a starting point for research on many wah Acting Dean of the Faculty of Economics and issues. Commerce at a time of considerable student In 19x0 Fred founded the Centre for Economic unrest. While much of this hostility was directed Policy Rcsearch at the ANU, because he believed to the Vietnam War. protest took various forms that in order to be intluential economic policy including attacks on the universities and the role research needed to have ;1 separate funding and of mainstream economics as a buttress for the institutional base. The CEPR was one of Fred's statiis quo. most significant achievements. described in 1986 Fred's reaction to this confrontation was both on Fred's retirement by Ross Gittins, as *. . . by constructive and courageous. He believed that the far the most productive of the many university Australian involvement in Vietnam was not right, centres of applied economics research. . .*? and stood up for his views, participating in the The CEPR continues to have two major roles, first Vietnam Moratorium march in Melbourne. both part of Fred's original vision. The first is the This stance led to severe tensions with some organization of major conferences concerned with senior Monash economists. contemporary economic policy issues, of which AS well as writing on the issues, Fred estab- three or four are held annually. The best known lished and institutionalized a process whereby stu- happened in 1984 in conjunction with the presti- dents could make formal complaints about gious Brookings Institution, resulting in the very teaching problems. Some of the student disquiet successful volume, The Australian Economy: A clearly had a legitimate basis and under Fred's View From the North. leadership was acted upon. This was not an easy The Centre's other substantial achievement was period for him, but it was one in which his values the establishment of the Discussion Paper series, and fortitude were demonstrated. now numbering nearly four hundred. These papers In 1972, probably with some relief, he accepted are widely read and quoted, and I am reliably told the position of Professor of Economics in the they are among the most commonly 'gone Research School of Social Sciences at the ANU. missing' items from the Parliamentary Library. This was associated with a significant reorienta- Fred was editor of the papers from 1980 until tion of his work and major professional achieve- mid-1997. Much of the quality of the output was ments, all associated with his burgeoning interest in and talent for the big issues. Ross Gittins. 'A Most Useful Man Steps Down', Fred's academic interests moved away from Sydney Morning Hrrald. November 1986. I'M F.H.G. GRUEN: 1921.97 189

due to his conscientious, even heavy, involve- intensities similar to those in Australia, the impo- ment. Many first drafts were returned covered in sition of the tariff is more likely to worsen than his distinctive large blue scribblings, always to improve the terms of trade, a prediction oppo- helpful. never obtuse and sometimes even a little site to that of the standard model. bit rude because of his directness. I experienced Fred was quietly proud of an earlier contribu- this close-up when the first paper I submitted to tion which examined the effect of technical him for consideration (in 1984) came back with change on agriculture. Theory was advanced the comment: 'Ywr English is bloody horrible!' through the explicit incorporation of the supply Fred's direct engagement in policy continued on reactions to technical change, a considention pre- a part-time basis through the 1980s and beyond. viously ignored in the literature of agriculturd In 1985 he was appointed as Chair of an official economics. Like much of Fred's writing, the anal- committee which recommended an assets test on ysis is related to a peculiarly Australian question: welfare payments that subsequently was imple- the effect of the introduction of myxomatosis on mented by the Hawke government: this reform product mix. clearly had a major impact on the government's Fred's work places imponant store on economic ability to fund decent levels of assistance to those theory, but theory did not own him. His reaction most in need, and Fred was justitiably proud of to the emergence of stagflation in the mid-1970s. his contribution. Around this period he was Chair- which challenged fundamentally the Keynesian man of the housing industry Indicative Planning consensus, is telling: Council and was involved in a Commonwealth Government inquiry into dumping. Like many of my colleagues, my faith in Like his long-term chess and intellectual spar- simple Keynesian demand management has ring partner, Heinz Arndt. Fred never really been undermined.. . Unlike some of my col- retired. and after 1986 neither his policy input nor leagues, however. I have not gone so far as to his academic output changed. He became an believe that unemployment is always 'volun- adviser to the ACT Government on youth educa- tary' or the result of wages which are 100 high, tion and employment issues, and at RSSS he con- or of unemployment benefits which are too tinued to work cvery day, and-as usual- generous.3 actively debated with colleagues. A regular con- For many in Fred's generation the apparent col- tributor at seminars. he continued to produce lapse of the Keynesian world was traumatic, and interesting and policy-relevant research, and led some academics to despair of the value of maintained his pervasive informal connections economics. and influence with those who valued his advice- Fred did not over-react or seek refuge in nihil- all of us. ism. Instead, like many things in his often difficult Fred's economic policy interests remained and always rich life, he saw the experience in a broad, and he wrote papers on incomes policy, positive light; for him it promoted the importance unemployment, microeconomic reform, the tar- of wages for macro-analysis. geting of welfare payments and income distribu- Perhaps one reason that Fred responded sensi- tion. In 1993 with Michelle Grattan he published bly to these events lies in his early experiences. the book, Mutiaging Government. a balanced and After all, his life encountered great initial chal- critical assessment of the previous decade of the lenges, all of which were transcended eventually. Labor Government. This might explain that while the apparent demise of a paradigm was a calamity to others, it was not much more than a passing irritation and curiosity (iii) Fred Crrren in Perspectiw to Fred. Fred Grim: ucadernic economist That Fred's academic interests were broad is It might be a surprise for many to know that demonstrated in his written response to the unrest Fred did significant theoretical work. A paper at Monash in 1971 which labelled mainstream written in 1969 with Max Corden extended the economics as reactionary. He wrote: usual two-product, two-factor and two-country model to analyze the effect of the imposition of a There is one obvious sense in which econom- tariff on the real income of a country through a ics is a conservative discipline, namely that it change in its terms of trade. It is shown that with three products and three factors, given factor- Gruen, 1986. p. 181 1 90 ECONOMIC RECORD JUNE

helps those currently responsible for running [a factor] . . . likely to affect the ability to the economy to make more rational decisions achieve consensus concerns the size, number and hence presumably to stay in power for and organisations of the relevant pressure longer. But this is as true of those Communist groups. If the groups which need to be accom- elites who choose to avail themselves of bour- modated in any bargain are small in number geois economic know-how as it is of capitalist and the negotiators on behalf of each group can ones. I understand that Che Guevara introduced 'deliver', incomes policies are much more linear programming to Cuba. In this case an likely to ~ucceed.~ accepted part of the bourgeois economic tool- kit may have helped to keep a Marxist regime This point became fundamental to an under- in power! standing of corporatism generally, and the Accord in particular. Fred's written work illustrates the importance of In terms of setting the agenda, in 1985 Fred's the multi-dimensional nature of inquiry. As Max Edward Shun Memorial Lecture documented Corden has observed, Fred's papers were like Australia's economic growth record and asked: mini Royal Commissions because all areas of dis- 'Why have we performed with so little distinc- course-theory, data. and the political coniext- tion?' It is a classic Gruen contribution.6 in which were covered. he took a big policy question and explored the An example of his political perspicacity is the evidence in the political and institutional context. following. In 1991 Fred and I wrote a paper on It encouraged younger and more technical Austra- the Prices and Incomes Accord between the lian economists to take up the mantle with enthu- Federal Labor governments of the 1980s and the siasm and success. peak union council. The paper was pretty much Finally, much of Fred's written work related to two separate exercises integrated only by a large income distribution. In earlier days an issue was staple. Fred's job was to analyze the industrial and poverty, and later he focused on unemployment political economy factors. while I updated some and the targeting of welfare. In Fred's view, an econometric exercises testing the intluence of the important weight should be given to thc needs of Accord on real unit cost and strike outcomes. the disadvantaged. I was phoned by a leading ACTU researcher Combined with his use of theory, his concern who said that the paper was the best piece that for those in economic trouble made Fred an ideal had been done on the Accord. 'Tell me more', I Alfred Marshall-type economist: he had both a drooled, to which he said something like: 'Well. cool head and a warm heart. Such a balance the econometrics was a bit silly and nobody implied unusual effectiveness in the policy arena. believes it. but the political economy stuff was a point he understood well, saying to me once that brilliant.' policy is always more influenced by equity than This endorsement was not partisan. it was by efficiency concerns. because Fred was right. Indeed. in general Fred Fred summed up his role by saying that: was critical of research that he thought was ideo- 1 suppose my main aim.. . was to shed more logically motivated. As an indication of the value light on the changing economic environment in he placed on balance, he told me once that a paper Australia and how policy could best respond to of his must be pretty good '. . . because both the the changed conditions. A lot of economics is Left and the Right told me it was wrong'. now, as it has usually been, the subject of Fred's research had other salient characteristics. intense controversy. Progress in the discipline One is that he had 'a good nose'-the capacity to is often a sort of crab-walk between fact and foretell and influence research agendas. In 1983, theory. The reason for the slowness of our pro- for example, he appears to have anticipated the gress is that the ultimate test of any doctrine- later and now famous work of Calmfors and conformity with the facts-often turns out to Driffel (1988). The idea is that a government be inconclusive. Further. the changing environ- could control wage inflation only if there was a weak union movement, or a consensus between s Gruen. 1983, page 13. strong unions and the government concerning Judged by Peter Krnyon to be the best of the Sham restraint. He wrote: lectures in the review of 'A Decade of Sham Memorial Lectures 1981-91 and the Australian Economy'. Eco- Gruen, 1971. p. 63. nomic Record 71, 213. June 1995. 209-17,. IYYX F.H.G. GRUEN: 1921-97 191

ment may make an analytical framework (not a Fred's less formal role in the dumping inquiry, simplification) adequate at one time and inad- saying that he got a 'pretty robust reception' when equate at another.' he presented his work to the Australian Manufac- turing Council: 'As might be expected, he met the In short, in his written work Fred took from challenge head on and did not back off when the theory and statistical analysis what is useful to heat was on-a sign of a strong mind and cou- everyday policy development. and mixed these rageous spirit. He was no ivory tower hero.'lO contributions with a common sense drawn from a Those of us interested in how academic eco- wealth and diversity of personal and professional nomics can be made relevant to policy should experience; sensible. thoughtful, broad. balanced follow closely his lessons. One is that Fred under- and compassionate, as he was in all arenas. stood the tension between logical consistency and policy relevance, at least for the sorts of time F~c,l/C/-lrct/l: ,~UW/WWII/ U~/\./XC/. periods with which governments are concerned. While Fred's sojourn in thc bureaucracy in There is no doubt that he preferred to work with 1973 had sipniticant influence on policy, so too the tools at hand, loose ends and all, instead of did policy make a major impact on him. He wrote waiting for comprehensive models with attractive of this experience in the followin,(' terms: long-term properties. writing: 'Applied economists obviously cannot wait until theory provides Like most outside observers I had frequently us with a clearer picture; the problems need been critical of the obtuseness and folly of assessment as they arise'. I many government policies. It is certainly a sal- From the early 1970s to the late 1990s. Fred utary experience to be suddenly within the lunched each month with a group of economic group of public servants whose advice is being figures from the top echelons of business and gov- sought and. on occasions, acted upon. One ernment. The discussion traversed the latest eco- becomes much more aware of the very many nomic and political issues, and in my experience considerations ministers have to take into of these occasions Fred was always the keenest account.8 participant. He delighted in challenging most This sensitivity to the breadth essential for ideas, he proffered opinions on everything. he useful policy advice and analysis became a theme drew attention to related events in history and of all his later research. from other countries, and he enjoyed gently Fred's achievements on dumping, the assets test mocking the occasional silliness of the remarks of and as Chair of the Indicative Planning Council others. After each lunch most participants, includ- were significant and high profile. But there were ing Fred, had more Gruen-consistent views. other, less direct. ways in which he made major An important indirect contribution not well contributions. such as through his participation in known was his influence as mentor on sevenl a large number of seminars and conferences run generations of Australian economists. There are by the Office of the Economic Planning Advisory many senior academic economists today that will Committee in the mid- 1980s. The then-Director, testify to the importance of Fred's encouragement Fred Argy, wrote: and support, and several outstanding examples of Fred changing people's professional directions. I always had him at the top of my list of Fred's professional and personal self-assured- participants because he was not only well- ness was an important reason for his influence. informed on the literature and professionally Fred was very comfortable with Fred, and was objective, but also a fearsome debater: very relaxed. almost indulgent, in telling stories against critical. questioning and even mischievous in himself, including the following. the way he challenged sloppy arguments and At Fred's time at the University of Chicago inaccurate facts. I saw him as exercisin a mar- vellous discipline on everyone present. Theodore Schultz and others were working up 8 the notion that skills development was like David Charles. a former Departmental Secre- investment in plant and machinery, an intellec- tary. has expressed a similar view with respect t~ tual revolution that eventually transformed labour economics and resulted in the awarding ' Gruen. I 988a. page z I. Gruen. 1988a. page 17-18. lo David Charles, private correspondence, 1998. ' Fred Argy. private correspondence. 1998. I1Gruen, 1986, page 4. I92 ECONOMIC RECORD JUNE of several Nobel prizes. including one to towards the ladies present, and his level of Schultz. Without a hint of embarrassment Fred sophistication. would relate that he told Schultz: 'this human Bob Gregory wrote of Fred that 'All his friends capital stuff wouldn't really go anywhere and will remember his style of wearing a sports coat- that he shouldn't waste his time on it'. draped over the shoulder but arms not in the This openness reflected an abhorrence of dis- sleeves. Whenever I tried to copy this the coat fell honesty. and meant that he was not always gentle. off.') A few years ago he roasted a paper with such When an American visitor to the University of enthusiasm that another commentator at the same Adelaide returned from giving a seminar at ANU conference rose to discuss a paper saying (quite in 1982. he said that he was very impressed with loudly) to the author: 'Don't worry, won't do a I somebody he referred to. not by name. but as 'a Gruen on you!'. Viennese gentleman'. Everybody knew whom he 'Doing a Gruen' meant much more than being meant. hard-hitting and critical. If Fred liked a piece of Finally. on the personal side, there was his work he said so, publicly, privately and repeat- appreciation of humour, and with this came a edly. Where generosity means leadership, Fred certain impishness. He wrote in the letters column had it, and he combined this with a remarkable of the Airstruliun Finuncial Review about a col- unconcern about making a mistake. league whom he thought was inconsistent in the use of data for political purposes: 'Really [name]. your ideological slip is showing!' We can see this Fred Griren: personul role model Many of us greatly admired the personal side playful side in his eyes in the wonderful photo- graph of him at the beginning of the obituary. of Fred. He was dedicated to his family (his wife Fred's way of relating to people meant that he Ann of 50 years. and sons David and Nick), and had an appreciative and large group of colleagues could not have achieved his remarkable profes- and friends. He engendered loyalty. the best sional success without the security and comlort example being Cathy Baird. who hcld the CEPR that came from this part of his life. One only has together throughout a11 of Fred's years, motivated to read his autobiography to feel the respect he importantly by her strong affection for him. had for Ann; one only had to see them together His influence Australian economics can be to see her significance to him. on traced in a major way to Fred the person. He He was not a proud man. but there was a certain changed the academic and policy landscape not pride evident in his discussion with me of David's because he was intellectually astounding, and not success as one of the Reserve Bank of Australia's because he pursued relentlessly a specifically top researchers. and it was with similar pleasure he told me when Nick became adviser to John defined area. He mattered because he had excel- lent judgement and balance. ensconced in Dawkins, then Commonwealth Treasurer. If imi- common sense and breadth, and delivered always tation is the highest form of flattery. we should with confidence and courage. not be surprised that his two sons have both Many of us want to be like him, but none us become top-level economic researchers with a of clear focus on big policy issues. really gets close. For some the edges are too rough, and for others important parts are missing. It would be remiss for a celebration of Fred In comparison, Fred was rounded and complete- Gruen not to note his great charm, style and pres- a consummate role model. ence. This has been documented by some of those who knew him best. One of our very best, much loved and much missed. Professor Joe Isaac studied with Fred, and knew him well for most of his life. Joe wrote that when he first met him:

Fred presented as a very confident young man, handsome despite the ill fitting Austra- lian army uniform, articulate and with an opinion about everything we talked about. I J.E. Isaac, private correspondence. 1998. recall being somewhat intimidated by his wide l3 R. G. Gregory. 'Economist was intellectual in the knowledge. his 'Viennese' style of politeness European tradition'. ANU Ripmur. 1997. page 8. I WX F.H.G. GRUEN: 191-1-91 I93

SELECTED PUBLICATIONS 1976 'What Went Wrong? Some Personal Reflections on Economic Policies 1949 'Factors Influencing Farm Size in Under Labor,' Australian Quarterly, NSW', Review of Marketing and Agri- December. cultural Economics. March. 1978- (Editor) Surveys of Australian Eco- I960 'Economic Aspects of Pasture I983 nomics (three volumes), Allen & Improvement', Economic Record, Unwin, 1978, 1979 and 1983. April. 1982 'The Welfare Expenditure Debate: 1961 (a) 'Agriculture and Technical Change,' Economic Myths of the Left and the Joirrnul of Farm Economics, Right', Economic Record, September. November. 1984 'Report of the Panel of Review of Pro- 1961 (b) 'Crying over Spilt Milk', Economic posed Income and Asset Test'. May. Record. September. I985 'The Federal Budget: How much Dif- I963 'Australian Agriculture and the Cost- ference Do Elections Make?' Austra- Price Squeeze', chapter in H.W. Arndt lian Economic Review (3). & W.M. Corden (eds), The Australiun 1986 (a) Review of Customs Tariff (Anti- Economy. Cheshire. dumping) Act 1975. Australian Gov- 1964 'Hidden Gains and Losses of a Wool ernment Printing Service, March. Reserve Scheme', Austruliun Journal 1986 (b) 'How Bad is Australia's Economic of Ay-icirltirral Economics. December. Performance and Why?', Economic 1967 (a) (with A.A. Powell) 'The Estimation of Record. June. Production Frontiers: The Australian 1988 (a) 'Some Economic and Social Aspects of Livestock/Cereals Complex', Airsrra- Housing in Australia'. Discussion liun Jorrrnal of Agricwltirral Paper 88/08, Economic Planning Advi- Economics, June. sory Council. September. 1967 (b) 'Aborigines and the Northern Territory 1988 (b) 'Some thoughts on economics and Cattle Industry-An Economist's other things' (autobiographical essay) View'. in Aborigines in the Economy. in From Strauss to Matilda, Viennese by I.C. Sharp and Colin Tatz (eds), in Australia 1938-88. The Wtnkhart Jacaranda Press. Foundation. Australia. I968 (with A.A. Powell) 'The Constant 1990 (a) 'The Scum of the Earth', chapter in M. Elasticity of Transformation Produc- Easson (ed.), Australia and Immigra- tion Frontier and Linear Supply tion: Able to Grow?, Lloyd Ross Systems', International Economic Forum Series, Pluto Press. Re\dew, October. 1990 (b) 'Economic Development and Agricul- I969 'The Australian Economy', chapter in ture Since 1945'. chapter in D.B. Wil- Contemporary Australia by R. Preston liams (ed.), Agriculture in the (ed.). Duke University Press. Australian Economy, 3rd edn, Sydney 1970 (with W.M. Corden) 'A Tariff that University Press. worsens the Terms of Trade', chapter 1991 'An analysis of the Australian consen- in LA. McDougall & R.H. Snape (eds). sual incomes policy: the prices and Studies in International Economics. incomes accord' (with B.J. Chapman) North-Holland. in C. de Neuborg (ed.). The Art of Full 1971 'The Radical Challenge to Bourgeois employment, North-Holland (pp. 186- Economics' , Australian Quarterly, 207). March. 1993 Managing Government: Labor's 1973 (a) (with Alf Rattigan and others) 'Possi- achievements and failures (with Mich- ble Ways of Increasing Imports', Par- elle Grattan), Longman Cheshire 1994 liamentary Paper No. 152. I994 'Targeting Welfare' (with Deborah 1973 (b) 'The 25% Tariff Cut; was it a Mitchell and Ann Hiding), Economic Mistake?', Australian Quarterly, June. Record, September. I94 ECONOMIC RECORD JUNE

1995 'The Australian Welfare State: Neither 1997 'Irrational Expectations? A review of egalitarian saviour nor economic mill- John Quiggin's Critique of Micrmcon- stone?', Economic and Labour Relo- omic Policies in Australia', Agenda (ions Review, June. W).

CHAPMAN, B. (1998), F. H. G. Gruen: 1921-97. Economic Record, 74: 186-193. doi: 10.1111/j.1475-4932.1998.tb01916.x

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Stephen Bell and Michael Keating Fair Share: Competing Claims and Australia’s Economic Future 508 Paul Frijters

Harry Bloch Schumpeter’s Price Theory 512 Brendan Markey-Towler

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