Wool Price Stabilisation

Wool Price Stabilisation
Author: Australian Bureau of Agricultural and Resource Economics
Publisher:
Total Pages: 88
Release: 1990
Genre: Price regulation
ISBN:

Counting the Cost

Counting the Cost
Author: Malcolm Abbott
Publisher:
Total Pages: 0
Release: 2020
Genre:
ISBN:

This paper provides a policy commentary on the collapse in 1991 of the Australian Reserve Price Scheme for wool. A key cause of the collapse in the Scheme was a change in the RPS's governance arrangements, which led to increased political pressures to raise prices to unsustainable levels. In addition, in this paper an estimation has been made of the direct, upfront costs of the operation of the scheme, drawing on the financial accounts of the various agencies operating the RPS and subsequent wool stockpile. This was undertaken to determine the scale of the policy failure.

Breaking the Sheep's Back

Breaking the Sheep's Back
Author: Charles Massy
Publisher: Univ. of Queensland Press
Total Pages: 352
Release: 2016-07-01
Genre: Business & Economics
ISBN: 0702246832

The 10-billion-dollar collapse of the wool industry is considered one of Australia's biggest business disasters, and for the first time, the shocking true story behind this colossal collapse is revealed. Spanning 170 years from the birth of the industry in 1840 and its boom during the 1950s through its unraveling from 1980 to 1991, this is a searing account of greed, political corruption, and heavy-handed protectionism. As it uncovers the never-before-seen archival sources, government and board papers, and private correspondence and shares exclusive interviews with key whistle blowers, this narrative unveils the gripping true story of government corruption in a seemingly untouchable industry.