SAUL ESLAKE:

Proposition 1: A country’s tax system says something important about the kind of society it wants to be, and has an influence on the kind of society it is. Australia’s tax system sends the wrong messages and has perverse economic consequences.

Proposition 2: There is something uncomfortably reminiscent of the former East Germany about the way in which Australia holds up success in sport as somehow indicative of the superiority of our way of life; and we pay a price for the fact that we do not regard success in other fields as similarly worthy of support, encouragement or pride.

Proposition 3: Australian governments reacted to two of the great shocks of the 21st century (thus far) —  terrorism and corporate malfeasance —  in ways that have adversely affected the Australian economy without materially reducing the threat posed by either of these developments.

Read ANZ Bank Chief Economist SAUL ESLAKE’S full speech to the Royal Society:

HERE