The decline of the churches was a sweeping social revolution, because they had done more than any other institution, public or private, to civilise A… - Geoffrey Blainey

Australia became a full-blooded democracy in the late 1850s, achieving it with lightning speed. Only 30 years previously it had consisted of two convict colonies, ruled by governors whose personal power was magnified because most of their subjects were prisoners or ex-prisoners. Moreover, the governors were so remote geographically that Britain’s control of them and their decisions was loose. One year might elapse between the governor writing an urgent dispatch to London, and the arrival of an official reply. And yet, from this prison-like regime, democracy speedily emerged. This was an exceptional outcome.

Mapmakers of Europe and navigators of the Indies once thought Australian seas washed the isles of gold. Even after navigators had seen the north-west coast of Australia it was named on one map the coast of gold. Unknown coasts were treasurelands; imagination shaped and gilded them. Then slowly Dutch and British voyagers tarnished the gilt, and Australia turned from a land of reward to a land of punishment when Great Britain dumped convicts and guards at Sydney in 1788. The imagination of the ancients had more truth than the knowledge of the moderns, but for two generations the settlers did not know that their prison had bars of gold.

In economics, as in politics, no national reservoir can stand the strain when everyone is turning on the taps and few are bothering to see that the catchments to the reservoir are working.