It takes more than market forces

John Hewson’s exposition of Scott Morrison’s duplicitous faith in market forces (“Market farces”, November 20-26) is neatly complemented by the report on Haiti’s “Democracy in retreat” (Jonathan Pearlman, World, November 20-26). Haiti is an extreme case, where criminal gangs exercise powers normally reserved for government. It is a real illustration of the outcomes of absent, ineffective government. Effective government does more than unleash market forces. It creates and enforces the rules essential for equitable and efficient operation of markets. Don’t expect Scott Morrison’s “small” government to abandon corporations law, control of land titles, contract law or other regulations required for markets to operate. Not even the most ardent free-market devotees go that far. The Coalition should be honest and acknowledge that good markets are enabled by good regulations and undermined by poor regulation, poor enforcement or both.

– Ken Coghill, Surrey Hills, Vic