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date: 10 April 2021

Abstract and Keywords

This chapter explores the progress over the last 116 years in the adoption of the Australian Constitution towards the (unfinished) goal of achieving the fullest possible economic union. It first outlines theoretical concepts that underlie ‘economic union’ within a federation and describes the rather limited form of a negative economic union reflected in the express terms of the new Constitution. The key moves to strengthen Australia's negative economic union over the last 116 years are then considered. The chapter next extends this exercise to the development of a functioning (but still incomplete) positive economic union. Lastly, this chapter concludes with a discussion of the increasing enmeshment of Australia's national economy with global markets, polities, and institutions.

Keywords: economic union, negative economic union, positive economic union, Australia's national economy, global markets, Australia's negative economic union

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