Like what you've read?

On Line Opinion is the only Australian site where you get all sides of the story. We don't
charge, but we need your support. Here�s how you can help.

  • Advertise

    We have a monthly audience of 70,000 and advertising packages from $200 a month.

  • Volunteer

    We always need commissioning editors and sub-editors.

  • Contribute

    Got something to say? Submit an essay.


 The National Forum   Donate   Your Account   On Line Opinion   Forum   Blogs   Polling   About   
On Line Opinion logo ON LINE OPINION - Australia's e-journal of social and political debate

Subscribe!
Subscribe





On Line Opinion is a not-for-profit publication and relies on the generosity of its sponsors, editors and contributors. If you would like to help, contact us.
___________

Syndicate
RSS/XML


RSS 2.0

This year's G20: getting the fundamentals right

By Tony Abbott - posted Tuesday, 28 January 2014


This progress is partly due to better science and technology; and partly to the constant aspiration to do better.

Mostly, though, it's been driven by the intellectual and philosophical conviction that freer trade and smaller government will strengthen prosperity; the instinct that empowered citizens can do more for themselves than government will ever do for them.

Essentially, officialdom has begun to grasp that human freedom is less a threat than an opportunity.

Advertisement

As soon as people have economic freedom, they create markets.

Markets are the proven answer to the problem of scarcity.

They rest, as Roger Scruton has recently observed, "upon the kind of moral order that arises from below as people take responsibility for their lives, learn to honour their agreements, and live in justice and charity with their neighbours".

Even though the Crisis was the gravest economic challenge the world has faced since the 1930s, it was not a crisis of markets but one of governance.

It was the G20 which helped to coordinate the actions which prevented another great depression.

The challenge, as we continue to work through the weaknesses that brought on the Crisis, is to strengthen governance without suppressing the vitality of capitalism.

Advertisement

The Crisis, after all, has not changed any of the basic laws of economics.

The lesson of recent history, whether it's the collapse of Soviet-style communism, the phenomenal growth of Asian economies, or the slow and painful recovery from the Crisis of 2008 and 2009 is that real progress is always built on clear fundamentals.

You can't spend what you haven't got.

  1. Pages:
  2. 1
  3. Page 2
  4. 3
  5. 4
  6. 5
  7. 6
  8. 7
  9. 8
  10. All

This is a slightly edited version of Tony Abbott's speech last week to the World Economic Forum at Davos.



Discuss in our Forums

See what other readers are saying about this article!

Click here to read & post comments.

20 posts so far.

Share this:
reddit this reddit thisbookmark with del.icio.us Del.icio.usdigg thisseed newsvineSeed NewsvineStumbleUpon StumbleUponsubmit to propellerkwoff it

About the Author

Tony Abbott is a former prime minister of Australia.

Other articles by this Author

All articles by Tony Abbott

Creative Commons LicenseThis work is licensed under a Creative Commons License.

Photo of Tony Abbott
Article Tools
Comment 20 comments
Print Printable version
Subscribe Subscribe
Email Email a friend
Advertisement

About Us Search Discuss Feedback Legals Privacy