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A fresh perspective on how the labor movement has understood three fundamental aspects of Australian capitalism: the country's place in the world, its class structure, and its experience of severe economic fluctuations.

Contemporary labor movement thinking about the Australian economy took shape between the depression of the 1930s and the long post-war boom, in the form of moderate and, today much diminished, left nationalist currents. This study narrows in on the economic conditions, the level of the class struggle and the political proclivities of different classes, particularly as expressed in the working class's main organizations - the Australian Labor Party (ALP), Communist Party of Australia (CPA) and trade unions.