Reward for ‘meddlesome’ economist

Melbourne Business School dean Ian Harper has awarded the Order of Australia Medal for services to education

Ian Harper said he was humbled by his nomination. Picture: Stuart McEvoy

Melbourne Business School dean Ian Harper will be awarded the Order of Australia Medal for “service to education in the field of economics, and to public and monetary policy development and reform”.

Professor Harper, who sits on the Reserve Bank board, said he was humbled by the fact somebody was moved to nominate him for the Queen’s Birthday honours, and paid tribute to his wife, parents, teachers and colleagues who over the years “taught me and rebuked me the whole way”.

Professor Harper said he would speak to his 91-year-old father to express gratitude for the support he provided over a career of public service and economics stretching close to four decades.

His contributions include leading the competition policy review of 2014-15 — known as the Harper Review — and serving as the inaugural chairman of the Australian Fair Pay Commission between 2005 and 2009. He has been on the RBA board since 2016.

Professor Harper said his proudest achievement was contributing to the stability and health of Australia’s financial system via his work as a member of the Financial System Inquiry of 1996-97, colloquially known as the Wallis Review. That review’s recommendations, which were almost entirely implemented under the Howard government, ensured “the integrity of the financial system” through testing periods like the GFC and today’s health crisis.

He is the author of numerous books, including 2018’s Confessions of a Meddlesome Economist, which he said was a fair description of his profession’s job of saying “unpopular” things. He described our public institutions as being “exceptionally important to the economic prosperity and welfare of the people of Australia”.

“Look around other countries and you can see institutions struggling and under attack, and which don’t have the confidence of the people. Here we have a strong tradition of supporting the apparatuses of the state, and it’s something we need to hold on to very, very strongly.”