The Australian Labor Party and the Notion of Economic Management

Abstract

This article begins by contending that the parliamentary Labor Party has demonstrated considerable diffidence towards economic and social policy since the 1998 election. In no small way this diffidence led to the electoral problems faced by Labor leading up to the recent 2001 election. In terms of short-, medium- and long-term prospects, the article isolates the notion of 'economic management' as one of the more critical of the ALP's policy woes. Specifically, the article examines the public stance of the ALP towards budget deficits/surpluses, interest rates and inflation. Importantly, the article incorporates the views of some key ALP parliamentarians. Thearticle contends that Labor's apparent reluctance to confront the notion of 'economic management' satisfactorily can only lead to further malaise.