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Breaking the Sheep’s Back: The Shocking True Story of The Decline and Fall of The Australian Wool Industry

Breaking the Sheep’s Back: The Shocking True Story of The Decline and Fall of The Australian Wool... Breaking the Sheep’s Back: The Shocking True Story of The Decline and Fall of The Australian Wool Industry , by Charles Massy . Published by University of Queensland Press , St Lucia, QLD , 2011 , pp . 464 , ISBN 9780702238857 ($39.95 paperback ). Unlike the British House of Lords, there is no wool sack in the Senate in Canberra. But Australia did ride on the sheep’s back for well over 100 years – from the advent of the Australian Merino from the mid‐19th century well into the second half of the 20th century. The ride finally ended with the collapse of the wool reserve price scheme (RPS) – a buffer stock scheme – in February 1991 and the decade it took to dispose of its rotting corpse – the 4.77 million bale wool stockpile, equal to nearly a year’s production. There is no question this book is ‘… the mother of all case studies’, as Emeritus Professor Jack Lewis writes in the foreword. That will make the book interesting to anyone concerned with the role of interest groups in making and managing economic policy. It shows how a small focussed interest group playing a long game http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png The Australian Journal of Agricultural Resource Economics Wiley

Breaking the Sheep’s Back: The Shocking True Story of The Decline and Fall of The Australian Wool Industry

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Publisher
Wiley
Copyright
Copyright © 2013 Wiley Subscription Services, Inc., A Wiley Company
ISSN
1364-985X
eISSN
1467-8489
DOI
10.1111/j.1467-8489.2012.00605.x
Publisher site
See Article on Publisher Site

Abstract

Breaking the Sheep’s Back: The Shocking True Story of The Decline and Fall of The Australian Wool Industry , by Charles Massy . Published by University of Queensland Press , St Lucia, QLD , 2011 , pp . 464 , ISBN 9780702238857 ($39.95 paperback ). Unlike the British House of Lords, there is no wool sack in the Senate in Canberra. But Australia did ride on the sheep’s back for well over 100 years – from the advent of the Australian Merino from the mid‐19th century well into the second half of the 20th century. The ride finally ended with the collapse of the wool reserve price scheme (RPS) – a buffer stock scheme – in February 1991 and the decade it took to dispose of its rotting corpse – the 4.77 million bale wool stockpile, equal to nearly a year’s production. There is no question this book is ‘… the mother of all case studies’, as Emeritus Professor Jack Lewis writes in the foreword. That will make the book interesting to anyone concerned with the role of interest groups in making and managing economic policy. It shows how a small focussed interest group playing a long game

Journal

The Australian Journal of Agricultural Resource EconomicsWiley

Published: Jan 1, 2013

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