6 Ironically, while this transparency lawsuit was wending its way through the courts, Robert Lucas and others were publishing research that would garner several Nobel prizes and ultimately overturn the traditional wisdom that secrecy regarding policy actions was the best policy.
The resources boom It is now well understood that the “mining boom” is shifting gear, and that we are entering a new phase. The story of the boom has always had three phases.2 In the first phase, commodity prices rose to very high levels. As a result, Australia’s terms of trade rose to levels not seen in a very long time.