Why I Take the Population Census Seriously
Read MoreCensus 2023
Economy
Minsky and the Housing Market
Speculative bubbles have occurred in the New Zealand housing market
Read MoreSo What is Special About Housing?
This column is adapted from a paper I gave to Southland U3A on Friday, February 17. Later I shall post a column which will analyse housing bubbles.
Read MoreWhat is Happening on the Inflationary Front?
Keynes warned us that practical men and women are but slaves of defunct economists. The comment is particularly relevant as we try to understand the prospects for inflation.
Read MoreChristmas Briefing Papers
What Was the Prime Minister Reading in the Runup to Election Year?
Read MoreBullshit Work
People complain about their jobs being meaningless. Does it matter?
Read MoreThe Economy in 2023?
The figure is from the Treasury forecasts. It shows the May (Budget) and December (Half Year) tracks of GDP.
The two most comprehensive forecasts of the New Zealand economy are by the Reserve Bank and the Treasury. They are especially important because they inform monetary and fiscal policy. What do they say?
Read MoreWhere Does Modern Monetary Theory Fit Into Macroeconomics?
Is it a new way of thinking about the economy or an old way, that was problematic in the past, dressed up to appear novel?
Read MoreShould We Nationalise the Electricity Industry?
More competition is often proposed as a means of moderating monopolies and oligopolies. It may be better to reduce competition for the electricity industry meeting our climate change needs.
Read MoreThe Coming Recession?
Is leaving inflation fighting to the Reserve Bank all we can do?
Read MoreThe Crypto Casino
Financial activity is too often gambling. Cryptocurrencies are the latest example
Read MoreAre We in a Stagflation?
Recently, I have often been asked whether we (New Zealand or the World) are experiencing a stagflation. There is no meaningful ‘yes’ or ‘no’ answer. You have to define the term before deciding what is going on.
Read MoreThe End of Neoliberalism?
Gary Gerstle’s The Rise and Fall of the Neoliberal Order: America and the World in the Free Market Era is a frustrating book. It is an impressive sweeping history of American politics and economic policy from the New Deal in the 1930s to today, predicting that we are coming to the end of the ‘neoliberal’ era. However, Gerstle never defines what he means by ‘neoliberal’ other than with examples through the narrative, so it is difficult to be able to identify what is coming to an end and when.
Read MoreWhy are Bond Markets So Terrifying?
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 MoreHow Are We Covered for Earthquakes?
Given that it is increasingly difficult to get affordable earthquake insurance, we may have to radically revise the system.
Read MoreWhat State is the Economy In?
‘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 MoreThe Belt and Road Initiative
Where does New Zealand fit into China’s plans to link better to the world?
Read MoreDoes Market Liberalisation Work?
The 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 MoreThree Waters: Yet Again a Centralist Solution is Being Imposed Upon Local Communities
The 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 MoreShould We Be Relying On Storing Waste Carbon in Trees?
The carbon, energy and dollar cycles do not integrate well.
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