Monthly Archives: December 2005

Tackling the Exchange Rate

This Note was written in early December 2005, to clarify some issues in my mind about exchange rate policy

Keywords: Macroeconomics & Money;

Why is the exchange rate high. The short answer is that the New Zealand economy is badly imbalanced, and the imbalance vents through the foreign exchange market into a higher exchange rate.

A Small New Zealand in a Big World

Presentation to the Browning Institute, of Public Affairs forum “The WTO in Hong Kong: Make or break time for neo-liberalism?”, 14th of December, McKenzie Room, St John’s in the City, Wellington.

Keywords: Globalisation & Trade;

If New Zealanders are to do what they say they want to do, the New Zealand economy is going to have to specialise in what it is good at, to obtain the dynamic economies of scale which give the high productivity which can underpin New Zealanders’ desire for a rich, sustainable and varied material and non-material life. The New Zealand economy will then have to trade much of what it specialises in, for that which it cannot produce so well. That rules out autarchy and puts us squarely into a world of international economic engagement.

Reason for Treason to Be Forgot

A response to a comment by Rosalie Sugrue in Broadsheet: The Newsletter of the Churches’ Agency on Social Issues, December 2005 (Issue 105).

Keywords: Literature and Culture;

In my youth, Guy Fawkes was more explicit on the Fifth of November than today, often with a dummy of the guy being pushed round in a wheelbarrow. We sung jingles like “Please remember/The Fifth of November/With gunpowder treason and plot/I see no reason/Why gunpowder treason/Should ever be forgot’.

The Rise and Fall Of Department Stores:why Did They Come Unstuck?

Listener: 3 December, 2005.

Once in the heart of our cities were department stores. Many readers will have visited them as children, accompanied by mother, aunt or grandmother. Perhaps you played in the children’s area while they were shopping. There was the excitement of the lift with its own operator, and one even had an escalator that was so grand to ride. And sometimes – not always, and you had to be especially good – you were taken to the graciously tableclothed tearoom for orange cordial and a generous slice of that very special cake.