parity

In 1968 Canada's Prime Minister Pierre Elliot Trudeau was sworn in with a Cabinet of suited white men. Forty seven years later his son has delivered Canada a Cabinet of gender parity, cultural, age and geographical diversity - all in a carnival like atmosphere open to the public. 

It was a spectacle, as expected.

Canada’s 23rd Prime Minister was sworn in today, and he means to get down to business immediately.

Forty-three year old Justin Trudeau announced his new Cabinet and presented them to the public.

Sharp movements in exchange rates often reflect sophisticated specualtion. Is there much we can do about it?

While the near parity of the Australian and New Zealand dollars got a lot of breathless attention recently,  there was little analysis of why it was happening. Explaining the exchange rate depends upon the time horizon.

What we are witnessing is an old fashioned ideological debate, dressed up as economics.

The high dollar and its causes suit people who have a lot of New Zealand-denominated wealth; a lower dollar is better for producers - people who use capital to earn money.

Commentators keep talking of our dollar as if it were some kind of national phallic symbol. They say it is reaching parity with Australia because Australia's economy is terrible and ours is much better. We are much better off here, they claim.