Analysis of conservative theory and practice in Australia. It explores the key features of the Liberal Party’s history and politics since the 1940s, defining the nature of Liberal success, discussing the central roles played by ideology and rhetoric, and elucidating the complex relationship between the Liberals and their business backers. Since the formation of the party, major challenges and crises within it have led to the revision and even abandonment of ideas and aims that were once taken for granted – full employment, progress, growth, development. This study looks at the conservative political responses to the polarising problem of stagflation, and contrasts the rhetoric and ideologies of Menzies with those of Fraser. Illustrated pp. 224 Signed by Author. #0816