At Gruen's testimonial dinner in 1986, former Prime Minister Gough Whitlam joked about Gruen's retirement, about the improved stature of economics in response to recent economic difficulties, and about the resignation of John Stone from his position as Secretary to the Federal Treasury to become a politician with the right of centre National Party. "When I first entered public life in Australia no one particularly noticed if economists retired, and still less, no one particularly cared how they spent their retirement. Now of course, everybody notices and everybody cares".