Australia - The Envy of the World

IMAGINE a country of about 25m people, democratic, tolerant, welcoming to immigrants, socially harmonious, politically stable and economically successful; good beaches too. It sounds like California 30 years ago, but it is not: it is Australia today. Yet Australia could become a sort of California—and perhaps a still more successful version of the Golden State…

Read the full article at The Economist... 

Economic Growth is measured in the changed in GDP. 

Australia's Economic grwoth between 1998 and 2007 grew by 3.6%. 

Currently it's at about 3.3%. The lowest point in Australia's GDP was in 09 when the effects of the Global Recession were felt. 

What does Australia's debt look like? 2011-12 = 9.6% GDP, 2012-13 = 11.4%. 

While comparing to nations around the world in 2013: 

• Australia 9.4%
• Canada 33.4%

View a full list of Countries by public debt at Wikipedia.

View a list of Countries by tax revenue as percentage of GDP.

Econoimc policy dominates public policy.
Has changed significantly in structural reform, 1983 - present.
Australia has a good story in econoimc policy.
But can't afford to relax. Economic policy is difficult and faces significant challenges.