I J Macfarlane: What does good monetary policy look like? Speech by Mr I J Macfarlane, Governor of the Reserve Bank of Australia, at the 12th Colin Clark Memorial Lecture, Brisbane, 21 August 2002. *  *  *  I would like to start by thanking the University of Queensland for inviting me to deliver the 12th Colin Clark Memorial Lecture.
It is an honour that I very much appreciate. I met Colin Clark very briefly at Monash University in the late 1960s when I was starting my professional career and he was finishing his and easing into retirement. He was a remarkable man who was widely respected by the world’s economics profession, but who received less recognition in Australia than he deserved.