Book excerpt: A new path for Australia, by eminent economist and author of the bestselling Superpower Could Australia become a full-employment, renewable-energy superpower? Ross Garnaut says yes, and it starts with taxing carbon. A levy on the big polluters will help fund Australia to become a carbon-free energy giant, lower the cost of living and assist the world to cut emissions. In this path-breaking book Ross Garnaut makes two linked arguments. He focuses on the underpinnings of successful social democracy and traces when economic policy has worked for Australia and when it hasn't. He leads off with a critique of the Albanese government – is this a case of policy half-done, or a government sailing at half-mast? His second argument is about the low-carbon opportunity that Australia has before it. Garnaut brings to bear his unrivalled expertise on industrial development, here and internationally. He calls for a new Carbon Solutions Levy. Getting this right is a way to secure the economic base of Australia's social democracy. A thought-provoking book by a visionary thinker.