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It is an understatement to say that much has happened to the Australian economy since the last Outlook conference, just over a year and half ago. Its theme, 'After the Boom', was about the need to get more policy action on the productivity and participation fronts to underpin long-run prosperity, once the people free ride on rising terms of trade eventually came to an end. That obviously occurred more quickly and abruptly than anyone had anticipated at the time. The theme of this year's conference, 'Restoring Prosperity after the Crisis', has a similar policy message, but in rather different circumstances.
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