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2023 | OriginalPaper | Chapter

2. Australian Economic Development and Network Utilities

Authors : Malcolm Abbott, Bruce Cohen

Published in: Monopoly Control

Publisher: Springer Nature Singapore

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Abstract

Although Australia was inhabited by the Aboriginal and Torres Strait Islander peoples long before the start of the nineteenth century, the development of Australia’s modern economy and its network utilities—which is the focus of this book—dates to this period, with the migration of British (and other) settlers and the transplantation of many public institutions from the United Kingdom. This chapter, therefore, looks at the economic development context in which the Australian utilities were established in the nineteenth century.

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next chapter Infrastructure Development: Industrialization, Institutions, Private Interests, and Public Capital Investment
Footnotes
1
This notion that education and training can enhance the productivity is not a new one; Adam Smith surmising as early as 1776 that: ‘a man educated at much expense and time to tasks that require dexterity and skill may be compared to an expensive machine that adds more to earnings than the cost of operating it’ (Smith 1776).
 
2
All figures are in GK$: This is the international dollar known as the Geary–Khamis dollar, which is a hypothetical unit of currency that has the same purchasing power parity that the U.S. dollar had in the United States at a given point in time.
 
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Metadata
Title
Australian Economic Development and Network Utilities
Authors
Malcolm Abbott
Bruce Cohen
Copyright Year
2023
Publisher
Springer Nature Singapore
Book
Monopoly Control

Print ISBN: 978-981-9927-25-8

Electronic ISBN: 978-981-9927-26-5

Copyright Year: 2023

DOI
https://doi.org/10.1007/978-981-99-2726-5_2