Widespread acceptance of the starting point given by the Washington Consensus (“deregulate and open-up internationally”) and acceptance of an international version of the medicos’ dictum “first do no harm” should avoid the mistakes of over-zealousness.
Part of a good rule-making regime is a recognition that parsimony is a virtue and that some rules are bad - where vested interests or misguided lobby groups gain influence in the process, we can end up with the wrong rules. Conclusion My starting point was that globalisation has been enormously beneficial for Australia, and for the world.