I am currently in Darwin, which is in the Northern Territory of Australia (see map below). I will report on developments here in due course. But knowing that I would not have time to write a blog personally today (meetings and travel oblige!) I asked Victor Quirk, our guest blogger to offer some of his ideas on matters economic. He very kind obliged with the following essay which I think you will find very interesting. So thanks to Victor. I will be back tomorrow talking about turncoats who turn out to be nothing of the sort. Over to Victor …