Boyer Lectures

In his first lecture Rupert Murdoch scans the future and beholds a golden era. But will we be part of it? The Australia he sees simply is not prepared for the challenges ahead. A classic Russell Drysdale painting provides inspiration.

In his final lecture, Professor Clark describes the unfolding possibilities of the new discipline of medical bionics. The hope of bionic nerve and spinal repair, a bionic eye, bionic epilepsy control, bionic drug delivery, bionic tissue repair, bionic muscles, organs and implantable sensors are only some of the magnificent achievements which this field may deliver for the benefit of humanity.

Professor Clark describes the realisation of his passionate desire to use the bionic ear to develop spoken language in children and the confrontation that this provoked with sections of the deaf community. He comments, 'It was ironical that I was now confronted by the very people whom I wanted to help hear. The criticisms affected all members of the team, and weighed heavily on us.'

'It is no exaggeration to say I was gambling my whole professional career on this day.' After twelve years of research Professor Clark describes the unbearable suspense of waiting to discover if the bionic ear would not only work but be commercially viable. Included are remarkable and moving recordings from the first test sessions of the bionic ear.

Loss of Contact is a detailed investigation of exactly what it means to lose a sense or senses including hearing, vision or touch. Clark, quoting the leprosy surgeon Paul Brand, describes how even to lose our sense of pain, 'the gift that nobody wants', can be catastrophic.

Professor Clark expresses his wonder, and inspires ours, at the complexity and continuing mystery of the operation of our senses.

The evolution of demand management policies, particularly monetary policy, over the past 30 years has largely been an exercise in overcoming conflict between short-term incentive and long-term stability.

The 1990 recession returned Australia to low inflation and paved the way for the sort of stability—15 years and counting—that earlier recessions had failed to achieve. Through the 1990s sustained economic growth re-emerged, and a new approach to monetary policy based on inflation targeting and central bank independence was put in place.

Finance excess saw boom turn to bust, and Australia experience its third recession in a quarter of a century. Then-treasurer Paul Keating would infamously observe it was 'the recession we had to have.' Perhaps it was—or was it caused by overly tight monetary policy?

By the 1970s the world's developed economies were stuck in the worst position they had been in since the Great Depression of the 1930s.