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This journal is published by the Committee for Economic Development of Australia (CEDA) to encourage discussion of social and economic matters. This issue includes the following articles: The death of inflation? / Stephen Grenville; Going for growth: business assistance programs / David Mortimer; Lessons from Britain's Thatcherite experiment? / Raja Junankar. Also included are the first of four reports to be issued under the major CEDA project 'Taxation reform: equity and efficiency'; articles on taxation, the Australian health care system, the Asian economy, and the deterioration of the Murray-Darling Basin and the consequent threat to South Australia's water supply. Also covered in this issue are some varied views on industry policy, reports on the CEDA conference on regional Australia and CEDA's 'State of the Nation' conference, and brief articles relating to investment, mining, telecommunications, and corporate management. This issue also includes the CEDA annual report for 1996-97.