Frank, your friend may be a very wise man but on this matter I think he is wrong. There is a fundamental difference between the two countries which is reflected by their comparative legislation and approach to legislation.
Australia has always been a fundamentally regulated country with legislation prescribed for various situations, whereas, in the US legislation has lagged well behind the fact. For example, look at the banking industry if you are sick and tired of comparing aviation legislation. I really think the image of the bronzed independent larrikin Ozzie is a myth - we like to be told what to do and need the guidance. Try that in the US and see what you get.