Quarterly Essay 61: Balancing Act - Australia Between Recession and Renewal

Malcolm Turnbull says we need to be agile citizens, and that there has never been a more exciting time to be an Australian. On the other hand, the mining boom is over and a question looms: is a recession on the way?

In this timely and original essay, George Megalogenis investigates a nation in transition. What will a new Australia look like, economically and socially? What are the new politics of change and renewal?

Megalogenis wonders why for so long we stopped being able to think about or prepare for a different future. Why so defensive? Now we are faced with a growing underclass, rising inequality and diminishing opportunities for the young. Have 25 years of growth and unprecedented prosperity come to this? How do we re-imagine a wealthy country notable for its equality; a cohesive country notable for its diversity?