nd had the chance of doing well. However, within that 'free market' certain individualism developed which created a particular state formation, which provided the conditions under which individuals could freely and confidently pursue their private transactions. These certain individuals (mainly officers) were able to capitalise on the positions of power that were entrusted to them; often at the expense of the poorer, free-settlers, emancipists and Aborigines. Consequently, with these people in power, who understood their comparative advantage and were unlikely to surrender it, and with no elections, New South Wales was born capitalist. There was never any other choice, given that the colony was founded at a time when "economic development could not but be capitalist".
             The colonisation and capitalist development of Australia was progressive, not because it created a better society, or because it saw the establishment of democracy and the rule of law, but because it was part of this British universal process. Within the time frame of Australian settlement, Western Europe was developing under the energy let loose by the Industrial Revolution, originating in England, and the Democratic Revolution, which spread from France. The story of Australian settlement is marked by the critical importance of money. The Australian society was at a very early stage becoming a capitalist and commercial society. "All around it was necessary to make money, make it honestly if you can, but above all make money". 'Trade' was to be the means of profit. In clearing the crowded gaols, producing raw materials and supplying food for the city-dwellers of the old land, Australia played an important role in the grand scheme of British industrialism. Australia emerged as Britain's main source o
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