‘Real’ wealth of nations in peaceful exchanges between countries and citizens: Gideon Rozner

The Institute of Public Affairs’ Gideon Rozner says there was a point at which society’s understanding of wealth became more than simply "conquest, force and hoarding gold".

“It’s interesting to hear … about the staggering and huge sums of wealth owned by emperors and kings and so on in the past,” Mr Rozner told Sky News host Cory Bernardi.

He said society began to understand wealth comes from "peaceful exchange between countries and, indeed, between citizens within countries".

"So not only did that sort of enlightenment understanding of free market economics distribute and disperse wealth, but it also democratised wealth and it made sure that it took us from the days of slavery and then serfdom and so on to the modern-day 20th century … democracy," Mr Rozner said.