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Reconstruction: Australia after COVID
What kind of future do Australians have?Until the coronavirus pandemic, nearly two-thirds of Australians had never experienced an economic slump in their working lives. Indeed, nearly half were not yet born when the Australian economy last tipped into recession. Creating a path for Australia through these difficult times requires a careful assessment of where we have come from, where we are, and where we are going.This book, by one of Australia’s leading economic voices, examines the fractured state of the global economy and financial system, the ailing US economy and its epic contest with China, the global economic order, and what it all means for us.
122 pages, Kindle Edition
Published March 30, 2021
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About the author
John Edwards
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There is more than one author in the GoodReads database with this name
There is more than one author in the GoodReads database with this name
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Displaying 1 - 4 of 4 reviews
July 4, 2021
‘To find the right path, we need to know where we have come from, where we are, and where we are going.’
Right now, we are still focussed on surviving the COVID-19 pandemic, navigating both the health issues and the economic and social consequences of isolation and lockdown. But one day, the pandemic will recede, and we need to plan for life afterwards.
The author of this Lowy Institute paper, John Edwards, is a Senior Fellow with expertise in Australian economic policy and was a senior economic adviser to Prime Minister Paul Keating. He has also written six nonfiction books including ‘Keating: The Inside Story’ and ‘John Curtin’s War’.
So, where do we begin? As stated on the cover of this paper: ‘Until the coronavirus pandemic, nearly two-thirds of Australians had never experienced an economic slump in their working lives. Indeed, nearly half were not yet born when the Australian economy last tipped into recession.’ This poses its own set of challenges.
In Chapter One ‘Before the Pandemic’ Mr Edwards begins by revisiting the events of 2020: the impact of underemployment and unemployment and reduced incomes for individuals, with soaring levels of government debt. Mr Edwards provides an analysis of Australia’s changing economy where, by 2019, mining, farming, and manufacturing accounted for one job in eight with the remaining seven jobs in services. And what about Australia’s relationships with China and the USA?
In Chapter Two ‘The Pandemic’, Mr Edwards discusses the human cost and the economic impact as well as the different responses by China and the USA. And we learned of the importance of effective leadership:
‘What really mattered, the world discovered, was not advanced medical care, top quality hospitals or advanced science. What mattered was the quality of political leadership, prior experience of epidemics, community consent and compliance with unusual restrictions, mass testing, isolation of active cases, social distancing and, if necessary, lockdowns.’
In Chapter Three ‘After the Pandemic’ Mr Edwards looks at the global economy and Australia’s place within it. I think it is going to take longer to get to ‘after the pandemic’ as the virus continues to mutate with (some) strains being more transmissible and more virulent. But for me, the strength of this paper is not so much what happens after the pandemic, it is more in the assessment of the structure of the Australian economy immediately before the pandemic and of the roles of China and the USA within the global economy.
‘Our new world is mostly the old world, with some important differences.’
My thanks to Lisa, whose comprehensive review https://anzlitlovers.com/2021/06/17/r...
led me to read this paper.
Jennifer Cameron-Smith
Right now, we are still focussed on surviving the COVID-19 pandemic, navigating both the health issues and the economic and social consequences of isolation and lockdown. But one day, the pandemic will recede, and we need to plan for life afterwards.
The author of this Lowy Institute paper, John Edwards, is a Senior Fellow with expertise in Australian economic policy and was a senior economic adviser to Prime Minister Paul Keating. He has also written six nonfiction books including ‘Keating: The Inside Story’ and ‘John Curtin’s War’.
So, where do we begin? As stated on the cover of this paper: ‘Until the coronavirus pandemic, nearly two-thirds of Australians had never experienced an economic slump in their working lives. Indeed, nearly half were not yet born when the Australian economy last tipped into recession.’ This poses its own set of challenges.
In Chapter One ‘Before the Pandemic’ Mr Edwards begins by revisiting the events of 2020: the impact of underemployment and unemployment and reduced incomes for individuals, with soaring levels of government debt. Mr Edwards provides an analysis of Australia’s changing economy where, by 2019, mining, farming, and manufacturing accounted for one job in eight with the remaining seven jobs in services. And what about Australia’s relationships with China and the USA?
In Chapter Two ‘The Pandemic’, Mr Edwards discusses the human cost and the economic impact as well as the different responses by China and the USA. And we learned of the importance of effective leadership:
‘What really mattered, the world discovered, was not advanced medical care, top quality hospitals or advanced science. What mattered was the quality of political leadership, prior experience of epidemics, community consent and compliance with unusual restrictions, mass testing, isolation of active cases, social distancing and, if necessary, lockdowns.’
In Chapter Three ‘After the Pandemic’ Mr Edwards looks at the global economy and Australia’s place within it. I think it is going to take longer to get to ‘after the pandemic’ as the virus continues to mutate with (some) strains being more transmissible and more virulent. But for me, the strength of this paper is not so much what happens after the pandemic, it is more in the assessment of the structure of the Australian economy immediately before the pandemic and of the roles of China and the USA within the global economy.
‘Our new world is mostly the old world, with some important differences.’
My thanks to Lisa, whose comprehensive review https://anzlitlovers.com/2021/06/17/r...
led me to read this paper.
Jennifer Cameron-Smith
February 7, 2022
Grovelling China apologism
June 22, 2021
I enjoyed reading this Lowy Institute Paper and found whilst the title would indicate that it is to do with recovery following the pandemic this was only in part the book’s theme. John Edwards gives an excellent account of the economic situation in Australia which preceded COVID and then the impact on Australia and the world as the crises developed. I found it valuable to understand the thinking behind decisions taken to avoid or at least alleviate the desperate situation being faced. He spends considerable time detailing the most significant relationships Australia has with strategic partner the USA and economic partner, China. This leads us to the suggested direction we must take for economic development post pandemic. Well worth reading.
June 28, 2025
Really interesting! i am very ignorant of economic theory so had a nice dinner table discussion with my dad (who knows a lot!), puzzled over the confusing bits and learned a great deal. Understand why inflation is so low now, and our relationship with China (as a trading partner) and the US (as a defence ally)... however as the book says emphatically: we are NOT America, we are NOT a great power, and as a prosperous but meek island we should distance ourselves from participating in big geopolitical problems. Paraphrased.
Worth reading!
Worth reading!
Displaying 1 - 4 of 4 reviews