Australia is one of my favorite nations, and not just because the people are friendly.
It has a modest-sized government, at least compared to other developed nations (see table 25 of this OECD data), and it has a very attractive private Social Security system that puts Australia in relatively good shape when looking at the long-run fiscal health of countries.
Indeed, this is one of the reasons why I picked Australia when asked which nation to choose if (when?) America suffers a Greek-style fiscal and economic collapse.
But this surely doesn’t mean that Australia has ideal public policy. It ranks #11 for economic freedom, which is better than America, but the Aussies trail first-place Hong Kong by more than one full point in the 1-10 scoring system.
That being said, Australia will probably move in the right direction if Prime Minister Malcolm Turnbull succeeds in…
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