The global financial crisis has provided clear evidence that the global financial system, including that of Australia, is founded on flawed economic theories. There is no scientific justification for sophisticated risk management, complex institutional structures or intrusive regulation....

Capitalism is defined here by the universal concept of private property, independent of time and geography, in purely economic terms, free from political ideology. Capitalism thus defined is antithetical to socialism, for which a metric has been introduced by the size of government measured as...