Our publications are the most important means of contact between the Centre's ideas and its general readership. Since 1976, The Centre for Independent Studies has produced some of the most authoritative publications in Australasian academia. From the influential Lands of Shame to the authoritative Will China Fail? CIS has published hundreds of publications covering topics from the social policy to legal affairs to religion and education.

In addition to books, the CIS publishes a range of shorter publications: Issue Analyses deal with controversial and current issues and Policy Mongraphs investigate and offer policy solutions. Since 1984, Policy magazine has published feature articles and reviews authored by some of the foremost national and international thinkers on public policy and ideas. The quality of writing and the diversity of topics in Policy ensure its status as a 'must read' by leading politicans, businesspeople and academics.

Hard copies of our publications are available for purchase through the bookstore. Many of the smaller publications are also available for download.


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All Finance, Banking, Monetary Systems Publications

  • Submission to the National Commission of Audit

    Alexander Philipatos, Jennifer Buckingham, Jeremy Sammut, Robert Carling, Simon Cowan, Stephen Kirchner, Trisha Jha | 01 Apr 2014 | TARGET30 Papers

    The federal government’s Commission of Audit (CoA) was established in 2013 to review the performance and role of government....

  • TARGET30: Reducing the burden for future generations

    David Murray AO, Maurice Newman, Simon Cowan | 01 Jul 2013 | Policy Forum

    TARGET30 is a campaign promoting smaller government and cutting government spending to less than 30% of GDP in the next 10...

  • Australia’s Future Fiscal Shock

    Robert Carling | 28 Sep 2012 | Issue Analysis

    Government is facing the arduous task of securing sustainable expenditure, revenue and debt beyond the current four-year...

  • Regulation or Strangulation? Banking After the Global Financial Crisis

    Ian Harper, Robert Carling | 12 Jun 2012 | Policy Forum

    Inadequate regulation of finance has taken much of the blame for the global financial crisis, leading governments around...

  • The Condensed Wealth of Nations and The Incredibly Condensed Theory of Moral Sentiments

    Eamonn Butler | 12 Jun 2012 | Occasional Papers

    In The Condensed Wealth of Nations, Eamonn Butler condenses Adam Smith’s work and explains the key concepts in The Wealth...

  • Flight of the Kiwi: Addressing the Brain Drain

    Andrew Patterson, David Kirk, Don Turkington, Luke Malpass | 27 Mar 2012 | Policy Forum

    Why are so many New Zealanders flocking to Australian shores, and what can be done to stop the so-called Kiwi ‘brain drain’? In...

  • The Henry Tax Review: A Liberal Critique

    Adam Creighton | 14 Mar 2012 | Issue Analysis

    The public release of Australia’s Future Tax System—known as the Henry review—in May 2010 sparked an ongoing debate...

  • A Waste of Energy: Why The Clean Energy Finance Corporation is redundant

    Oliver Marc Hartwich | 01 Mar 2012 | Issue Analysis

    The federal government’s plans to establish a Clean Energy Finance Corporation (CEFC) should be scrapped. As a commercially...

  • Future Funds or Future Eaters? The Case Against a Sovereign Wealth Fund for Australia

    Robert Carling, Stephen Kirchner | 20 Feb 2012 | Policy Monographs

    This paper considers the arguments for and against greater use of a sovereign wealth fund in Australia. It argues that the...

  • Trans-Atlantic Fiscal Follies: The Sequel

    Adam Creighton, Oliver Marc Hartwich, Robert Carling | 30 Nov 2011 | Policy Forum

    What started as the US subprime crisis became the global financial crisis and has now developed into the Trans-Atlantic sovereign...

  • Trans-Atlantic Fiscal Follies: The Sequel

    Adam Creighton, Oliver Marc Hartwich, Robert Carling | 30 Aug 2011 | Speeches

    The GFC is back. What started as the US subprime crisis became the global financial crisis, which has now developed into...

  • BOOK REVIEW: Guaranteed to Fail: Fannie Mae, Freddie Mac, and the Debacle of Mortgage Finance

    Stephen Kirchner | 20 Aug 2011 | POLICY Magazine

    Guaranteed to Fail: Fannie Mae, Freddie Mac, and the Debacle of Mortgage Finance by Viral A. Acharya, Matthew Richardson,...

  • FEATURE: International Trade: First Principles Forgotten

    David Robertson | 26 Apr 2010 | POLICY Magazine

    The global financial crisis has distracted attention from impediments to international trade.

  • Shooting the Messenger: The Ban on Short Selling

    John Green, Stephen Kirchner, Robert Bianchi | 01 Feb 2010 | Policy Forum

    In September 2008, governments around the world instituted bans on the short sale of equity securities.  In Australia, the...

  • BOOK REVIEW: Lords of Finance: The Bankers Who Broke the World

    Jeremy Bray | 12 Dec 2009 | POLICY Magazine

    Lords of Finance: The Bankers Who Broke the World by Liaquat Ahamed (William Heinemann, 2009).

  • Fiscal Fallacies : The Failure of Activist Fiscal Policy

    Stephen Kirchner | 14 Oct 2009 | Policy Forum

    Editor, Stephen Kirchner ; Contributors, John B Taylor ; Tony Makin ; Robert Carling The global financial crisis that emerged...

  • BOOK REVIEW: The Sub-Prime Solution

    Stephen Kirchner | 15 Sep 2009 | POLICY Magazine

    The Sub-Prime Solution (Princeton University Press, 2008) and Animal Spirits: How Human Psychology Drives the Economy and...

  • BOOK REVIEW: The Ascent of Money- A Financial History of the World

    Martin Sheehan | 15 Sep 2009 | POLICY Magazine

    The Ascent of Money- A Financial History of the World by Niall Ferguson (Penguin, 2008).

  • Emissions Tax: The Least Worst Option

    Luke Malpass | 16 Jul 2009 | Issue Analysis

    The New Zealand government’s emissions trading system, due to come into force in 2010 for energy and 2013 for agriculture,...

  • The Folly of Criminalising Cartels

    Jason Soon | 03 Jun 2009 | Issue Analysis

    The federal government's proposal to introduce a maximum jail term of 10 years for individuals found guilty of serious cartel...

  • Bubble Poppers: Monetary Policy and the Myth of ‘Bubbles’ in Asset Prices

    Stephen Kirchner | 28 Mar 2009 | Policy Monographs

    The monograph considers some of the practical problems that are likely to be encountered in implementing an activist approach...

  • FEATURE: Blaming Greenspan: Monetary Policy, the Housing 'Bubble' and the Credit Crisis

    Stephen Kirchner | 03 Mar 2009 | POLICY Magazine

    Monetary policy alone cannot explain the US housing or financial crisis. In the context of globally integrated capital markets,...

  • FEATURE: Commodity Prices and the Australian Economy: Trends Versus Cycles

    Stephen Kirchner | 12 Dec 2008 | POLICY Magazine

    Real commodity prices will declines over the long run.

  • Capital Xenophobia II: Foreign Direct Investment in Australia, Sovereign Wealth Funds, and the Rise of State Capitalism

    Stephen Kirchner | 01 Nov 2008 | Policy Monographs

    Stephen Kirchner offers a timely analysis of Australia’s foreign investment regime and gives his ideas on how to improve...

  • Government Intervention in Mortgage Finance: The Case Against 'AussieMac'

    Stephen Kirchner | 08 Sep 2008 | Issue Analysis

    An Australian GSE and the mortgage securitisation industry would likely expand only at the expense of other financial intermediaries,...

  • FEATURE: The Subprime Mortgage Crisis: Lessons For Regulators

    Penny Neal | 04 Jun 2008 | POLICY Magazine

    Hedge funds need regulating like banks to avoid financial instability.

  • FEATURE: The Politics of Protection: America and Australia compared

    James Paterson | 24 Mar 2008 | POLICY Magazine

    Despite similar public scepticism about free trade in the US and Australia, protectionism is on the rise in Washington but...

  • FEATURE: A 'New Era' for the Reserve Bank?

    Stephen Kirchner | 03 Mar 2008 | POLICY Magazine

    Australia's central bankers should face greater scrutiny and accountability.

  • FEATURE: Deal or No Deal

    Clarissa Keil | 03 Mar 2008 | POLICY Magazine

    While multilateral trade liberalisation is stalled, Clarissa Keil argues that Australia may need to stay in the race for...

  • Milton Friedman: A Tribute

    Maurice Newman | 04 Dec 2007 | Occasional Papers

    Nobel-Prize-winning economist Milton Friedman died in late 2006. In March 2007, the CIS hosted a tribute to Friedman and...

  • FEATURE: Fiscal Policy and Interest Rates in Australia

    Stephen Kirchner | 09 Sep 2007 | POLICY Magazine

    Tax cuts are unlikely to increase interest rates.

  • BOOK REVIEW: The Intelligent Australian Investor

    Chris Prunty | 03 Mar 2006 | POLICY Magazine

    The Intelligent Australian Investor by Chris Leithner (Wrightbooks, 2005).

  • BOOK REVIEW: Freakonomics: A Rogue Economist Explores the Hidden Side of Everything

    Rajat Sood | 09 Sep 2005 | POLICY Magazine

    Freakonomics: A Rogue Economist Explores the Hidden Side of Everything by Steven D. Levitt and Stephen J. Dubner.

  • BOOK REVIEW: The Rise and Fall of Monetary Targeting in Australia

    Stephen Kirchner | 31 Aug 2005 | POLICY Magazine

    The Rise and Fall of Monetary Targeting in Australia by Simon Guttman (Australian Scholarly Publishing, 2005).


    Peter Jennings | 12 Dec 2003 | POLICY Magazine

    (In response to American Grand Strategy: The Imperial Logic of Bush's Liberal Agenda by Edward Rhodes in POLICY Summer 2003.) A...

  • Breaking the Trade Stalemate: What Are Australia’s Options?

    Wolfgang Kasper | 12 Feb 2001 | Issue Analysis

    Australia’s best hope of long-term trade liberalisation lies in signing a free trade agreement with the United States....

  • Setting the Record Straight: Free Trade and the WTO

    David Robertson | 04 Sep 2000 | Issue Analysis

    By allowing social issues into the WTO agenda using tenuous links to trade policy, the WTO Council has placed the organisation...

  • COMMENT: Uniform Commercial Laws: The Merits of Wallis Recommendation 114

    Ray Steinwall | 09 Sep 1999 | POLICY Magazine

    In its final report in March 1997, the Wallis Committee expressed the view that reform of the regulatory framework could...

  • Book Review: States of Health: Health and Illness in Australia

    Steven Schwartz | 09 Sep 1999 | POLICY Magazine

    States of Health: Health and Illness in Australia (3rd Ed.) by Janet George and Alan Davis (Longman, 1998.)

  • FEATURE: The 'Unrepresentative Swill' 'Feel Their Oats'

    Geoffrey Brennan | 12 Dec 1998 | POLICY Magazine

    The Rise of Senate Activism in Australia.

  • Rear Vision on Trade Policy: Wrong Way, Go Forward

    Ron Duncan | 25 Sep 1998 | Issue Analysis

    Policies affecting trade flows do not begin or end in the international arena: Decisions about reducing protection must be...

  • BOOK REVIEW: Social Justice: Fraud or Fair Go?

    Tony Dimmitt | 06 Jun 1998 | POLICY Magazine

    Social Justice: Fraud or Fair Go? edited by Marlene Goldsmith Menzies Research Centre, 1998.

  • BOOK NOTES: An Introduction to the Thought of Karl Popper

    Jason Soon | 03 Mar 1998 | POLICY Magazine

    An Introduction to the Thought of Karl Popper by Roberta Corvi (Routledge, 1997.)

  • BOOK REVIEW: Keeping the Bastards Honest: The Australian Democrats' First Twenty Years

    Tony Dimmitt | 12 Dec 1997 | POLICY Magazine

    Keeping the Bastards Honest: The Australian Democrats' First Twenty Years edited by John Warhurst (Allen & Unwin, 1997.)

  • BOOK REVIEW: The Paradox of Parties: Australian Political Parties in the 1990s

    Daniel Clode | 03 Mar 1997 | POLICY Magazine

    The Paradox of Parties: Australian Political Parties in the 1990s edited by Marian Simms (Allen & Unwin, 1996.)

  • Reforming Central Banking

    Stephen Kirchner | 01 Mar 1997 | Policy Monographs

    This book is about which monetary institutions and monetary regimes are most likely to promote price stability.

  • Markets, Morals and Community

    Andrew Norton | 01 Oct 1996 | Occasional Papers

    Few people today doubt the market’s contribution to prosperity, but still there are powerful intellectual traditions opposing...

  • Should We Worry About the Foreign Debt?

    Gary M. White | 01 Apr 1994 | Policy Forum

    The debate about Australis's foreign debt seems endless.  Some say it is nothing to worry about and other fear a foreign...

  • FEATURE: Reserve Bank Independence or a Money-Growth Rule?

    Tony Makin | 12 Dec 1993 | POLICY Magazine

    Reserve bank independence has been proposed as a way of increasing the stability of monetary policy.

  • SCHOOLS' BRIEF: Fiscal Policy and Budget Deficits

    Doug McTaggart | 12 Dec 1993 | POLICY Magazine

    The government's budget deficit is the most common, but sometimes least informative measure of its fiscal policy stance.

  • REJOINDER: for FEATURE: Does the Family Need a Family Policy?

    James Cox | 09 Sep 1993 | POLICY Magazine

    James Cox's rejoinder for his feature article, Does the Family Need a Family Policy?

  • Lessons from the Freiburg School: The Institutional Foundations of Freedom and Prosperity

    Wolfgang Kasper | 01 Jul 1993 | Occasional Papers

    West Germany’s post-War economic success was based on the ideas of the ‘Freiburg school,’ a school of liberal economists,...

  • DEBATE: Clarifying the Role of Ideas

    John Hyde | 06 Jun 1991 | POLICY Magazine

    The Private Interest Theory Debate: John Hyde weighs in on the argument.

  • DEBATE: A Rejoinder

    John Fogarty | 06 Jun 1991 | POLICY Magazine

    The Private Interest Theory Debate: John Quiggin's rejoinder. Page 5.

  • Do We Need a Reserve Bank?

    Lawrence White | 01 Jul 1990 | Policy Forum

    'Free Banking' is gaining increasing attention as a promising remedy for inflation. Could private agencies be involved in...

  • Regulating for Competition? Trade Practices Policy in a Changing Economy

    Michael James | 01 Dec 1989 | Policy Forum

    Arguments for a greater reliance on market forces to protect consumer welfare are explored in this collection by leading...

  • Beyond the Current Pessimism

    Ray Ball | 05 Aug 1987 | Occasional Papers

    Professor Ray Ball gives a personal interpretation of the historical roots of Australia’s economic malaise.

  • Australian Takeovers: The Evidence 1972-1985

    Peter Dodd, R.R Officer, Steven Bishop | 16 Apr 1987 | Policy Monographs

  • Corporate Control, Economic Efficiency and Shareholder Justice

    Peter Dodd, R.R Officer | 18 May 1986 | Policy Monographs

    This book is an examination of the theoretical background and economics of the market for corporate control.

  • Capital Xenophobia: Australia's Controls of Foreign Investment

    Wolfgang Kasper | 18 Dec 1984 | Policy Monographs

    An early study by the CIS which supported the lifting of controls on  foreign investment in Australia.

  • A New Financial Revolution? An International Review of the Campbell Report

    Malcolm Fisher | 01 Feb 1982 | CIS Readings

    A Review of the Report of the Committee of Inquiry into the Australian Financial System (1981) which was considered the most...

  • Taxation, Inflation and the Role of the Government

    Milton Friedman | 05 Jun 1981 | Occasional Papers

    In this publication, the proceedings of a seminar conducted by the Centre for Independent Studies, Milton Friedman is joined...