Wen's visible handBY BENJAMIN ONG | MONDAY, 16 JUL 2012 9:15AMDon't wipe that smile off your faces yet for it was not the "as expected" Chinese growth figure that's the really good news, it was that what Wen says he wants now. |
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Phil Usher
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Taking a gamble to steady the ship as chief executive of First Nations Foundation, Phil Usher has turned it into a more secure, self sustaining entity, far better equipped to empower First Nations people to achieve financial prosperity. Andrew McKean writes.
If no one listens to the wisdom of a half Chinese economic commentator when it comes to China - then who can you trust? Nice work again Ben. I do enjoy your columns (and I say that to no one else).
Thank you Jamie, now it's not only China that put a smile on my face.
Here for example is Adam Smith on banking (WoN 2.2.94):
"To restrain private people, it may be said, from receiving in payment the promissory notes of a banker, for any sum whether great or small, when they themselves are willing to receive them, or to restrain a banker from issuing such notes, when all his neighbours are willing to accept of them, is a manifest violation of that natural liberty which it is the proper business of law not to infringe, but to support. Such regulations may, no doubt, be considered as in some respects a violation of natural liberty. But those exertions of the natural liberty of a few individuals, which might endanger the security of the whole society, are, and ought to be, restrained by the laws of all governments, of the most free as well as of the most despotical. The obligation of building party walls, in order to prevent the communication of fire, is a violation of natural liberty exactly of the same kind with the regulations of the banking trade which are here proposed."