The economic giant the political class tried to ignore
Despite being maligned by Australia’s political and economic establishment, John Stone had the necessary fortitude and the intellect to shift debate towards the creation of a better Australia.
In the recent past, John Stone AO, former Treasury secretary and senator for Queensland, who died on July 17 aged 96, was largely ignored or maligned by Australia’s political and economic establishment that had rejected the lessons of the 1980s.
Such was Stone’s reputation, then-treasurer Paul Keating refused to dismiss him when Labor came to power in 1983. Keating perceived that doing so would undermine the economic credentials of the Labor government and rattle markets.
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correction —
This article originally stated that Stone was never invited to speak to the National Press Club. He delivered an address there on 9 July 1987.
Morgan Begg is the Director, Research at the Institute of Public Affairs.
