11. The Post-war World

The post-war years up to the time of Australia’s Bicentenary did not see the sort of disruption to economic development that occurred during the depression of the 1930s and two World Wars. Instead, it was for much of its duration a period of steady, long-term growth during which new products and technologies were developed and introduced to Australia such that the country’s inhabitants were able to enjoy a substantially higher standard of living than had occurred previously. At the beginning of the period, most enterprises were conducted on relatively small scales, supplying goods and services for local markets or for export. This was true of manufacturing just as much as it was for the rural sector and services. By the end of the era enterprises had grown in both size and scope, and the Australian economy reached a level of considerable complexity and maturity.