Open and Closed: Is the US Economy a Good Model for New Zealand?
Listener 25 April, 1998.
Keywords: Globalisation & Trade; Growth & Innovation; History of Ideas, Methodology & Philosophy;
Numerous readers have asked me to reply to Debasis Bandyopadnyay’s review of my In Stormy Seas: the Post-War New Zealand Economy (7 March 1998). I do not think that quite appropriate, especially since dealing with the review’s errors and misunderstandings would be tedious to the reader. But he raised one issue so central to the economic debate, that it is useful to address it here. The review argued I was unaware of some of the current fashionable theories of the supply-side of economic growth. It did not say that I gave a quite different account of the growth process, based on the external demand side.