The success of a country is mostly determined, according to the Nobel prize-winning authors of Why Nations Fail, by the quality and inclusivity of its institutions – government, the justice system, education and civic associations – and the way they work together cohesively (or don’t).

Australia’s values and institutions are quite unique, yet there is a large disconnect between how effectively these institutions work in practice and how little this is recognised. Yes, Australia has had some luck; countries, like people, need a little luck to succeed. But it has been the unique institutional environment that has made the difference. Australia’s institutions, values and culture are distinctive and they are much stronger than is understood; far from perfect, they are nevertheless extremely adaptable and arguably deliver better outcomes for the average person than almost every other country.