This book is the first comprehensive account of how Australia attained the world's highest living standards within a few decades of European settlement, and how the nation has sustained an enviable level of income to the present. Why Australia Prospered is a fascinating historical examination of how Australia cultivated and sustained economic growt

"Looking at a period spanning two hundred years, this book explores why Australia was so rich at the end of the nineteenth century and why it has remained rich. McLean shows how history sheds light on Australia's long-run economic performance and he cogently discusses the contributions and limitations of formal theory in explaining Australian growth."--George Grantham, professor emeritus, McGill University

"This exceptionally well-written book explains why Australia has been almost continuously prosperous since the first settlement. A truly deep study of the mechanisms of economic growth, it is a top-rate contribution to its field and will become the standard work on Australian economic history."--Eric Jones, professor emeritus, La Trobe University

"Australian economic history is undergoing something of a minor revival . . . and this book is a welcome addition to the literature on the history of Australia in the global economy, stressing as it does both continuity and change."---David Meredith, English Historical Review