The rule by British politicians Liz Truss and Kwasi Kwarteng was bound to be short. It was a Rogernomics strategy. The minority Bolsheviks seized power to implement a wonky neoliberal economic regime. But there was no agreement in a larger (which also meant more with ability) and more fractious Tory caucus than was evident in NZ Labour’s in the 1980s. The minuscule Tory party aside, there was no enthusiasm for the approach among the public. So no surprises that they did not last long; the surprise was that they were felled so early, not by politics but by financial markets.
Read MoreGiven that it is increasingly difficult to get affordable earthquake insurance, we may have to radically revise the system.
Read More‘There is little doubt we face a fully-fledged economic crisis, beyond the current cost of living crisis.’ (Matthew Hooton, New Zealand Herald , 30 September 2022)
Read MoreWhere does New Zealand fit into China’s plans to link better to the world?
Read MoreThe evidence from the past is that the neoliberal crash-through approach proposed by the new Truss-Kwarteng British government does not lift economic performance.
Read MoreThe proposal to organise fresh water, storm water and waste water into four entities reflects the contempt that New Zealand’s central government has for local communities.
Read MoreThe carbon, energy and dollar cycles do not integrate well.
Read MoreThe aim of a decent liberal Russia is still there; its achievement is likely to be a long way off.
Read MoreWe should try to to evaluate our social policies systematically. But big data has limitations.
Read MoreWhy is the British Economy in Greater Trouble Than Most Others?
Read MoreEconomic history alerts us to long term trends, so that we are not trapped into thinking today’s circumstances will be forever.
Read MoreTwo-and-a-half years on, the Government’s merged mega-polytechnic, the New Zealand Institute of Skills and Technology – Te Pūkenga, is facing a deficit which is double the planned one. Will Health New Zealand – Te Whatu Ora (HNZ) be facing similar troubles in December 2024?
Read MoreToo many commentators on current price pressures have not understood that this time it is very different from the 1970s. Their prescriptions may accelerate inflation.
Read MoreAndrea Vance’s ‘Blue Blood: The Inside Story of the National Party in Crisis’ provides broader insights about how Parliament works than just National’s troubles.
Read MoreAre We Keeping Up With the Changing Global Trade Patterns?
Read MoreThe ongoing decline in market income inequality stopped in the 1980s. Since then it has been stable, while 1990 public policy actively increased disposable income inequality.
Read MoreWe cannot be sure, but the answer matters even in the short term.
Read MoreBehavioural economics challenges our assumptions about the relevance of rational economic man.
Read MoreThe takeaways from the just released data are:
1. Any estimate of GDP is subject to error.
2. The 0.2 percent decrease in the March 2022 quarter is not precise and will be revised, with the mild likelihood that it will eventually be higher.
3. New Zealand has no ‘official' definition of a recession.
4. The New Zealand economy seems to be stagnating. Whether we are in a recession (or going into one) or it is something more structural we cannot yet tell.
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