Australia's Water Resources seeks to explore the circumstances underpinning the profound reorientation of attitudes and relationships to water that has taken place in Australia in recent decades. The changing emphasis from development to management of water resources continues to evolve and is reflected in a series of public policy initiatives directed towards rational, efficient and sustainable use of the nation's water. Australia is now recognised as a pacesetter in water reform. Administrative restructuring, water pricing, water markets and trade, integrated water resources management, and the emergence of the private sector, are features of a more economically sound and environmentally compatible water industry. It is important that these changes are documented and their rationale and effectiveness explained. This timely work provides an important synthesis of these issues.