The tensions between different approaches to the economy are surfacing as the election nears. As we head towards next year’s election, the tensions between the coalition partners are becoming increasingly evident. There are always these tensions, even before MMP when there were but two significant parties, but they were hidden within the caucuses. For instance,…
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What have the 2025 Nobel awards in economics to say to us? One of the economic puzzles of human existence is that for most of it, going back to its beginnings, the material standard of living did not change much. Then, about 200 years ago, it began increasing; in some places more than others but…
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We should not assume that all adopted innovations are progressive. Jonathon Haidt’s ‘The Anxious Generation’ illustrates that sometimes they require social measures to enhance well being. The Anxious Generation is a book which probably everyone engaging with adolescents should read. Haidt’s thesis is that smartphones replacing flip phones led to a marked deterioration in the…
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The Government’s plans to remove the wellbeing provisions in the Public Finance Act represents a reversal of the way society is travelling. I welcomed the Ardern-Robertson’s Government decision to focus on wellbeing in its budgets. It went on to amend the Public Finance Act to require the government to state the wellbeing objectives that will…
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While many of the world’s Christian religions seem preoccupied with personal issues that Jesus, their founder, barely touched upon, they must engage with economic issues too. Robert Prevost, chose the name Leo on becoming the 267th Bishop of Rome – the Pope – in homage to Leo XIII (in office 1878-1903) who issued the 1891…
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Four eighty-year-old books which are still vitally relevant today. Between 1942 and 1945, four refugees from Vienna each published a ground-breaking – seminal – book.* They left their country after Austria was taken over by fascists in 1934 and by Nazi Germany in 1938. Previously they had lived in ‘Red Vienna’; ruled by Social Democratic…
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Paper to NZ Fabian Society, 26 February, Wellington. The New Zealand Fabian Society has posted my paper Transforming New Zealand: Why Has the Left Failed?, which is a follow-on from my just published book, In Open Seas: How the New Zealand Labour Government Went Wrong: 2017-2023. The paper points out that the Left no longer…
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Fabian Society Website Writing contemporary history is challenging. New evidence appears; events move on; it is hard to provide thoughtful reflections about events close to the writing. The last chapters of my economic history of Aotearoa New Zealand, Not in Stormy Seas, are no exception. I tried to avoid providing a conclusion in Chapter 55…
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Recommendations 1. That Parliament should not proceed with the Principles of the Treaty of Waitangi Bill. 2. That Parliament endorse the principles of the Treaty of Waitangi as set out by the Court of Appeal in New Zealand Māori Council v Attorney-General (1987) (C.A. 54/87), while acknowledging that the understandings of Te Tiriti o Waitangi…
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How the Prospect Theory of Behavioural Economics Makes Economic Analysis Difficult Behavioural economics has been described as the most revolutionary thing which has happened to economics for ages. The notion that people do not behave like ‘rational economic men’ (women are mainly ignored) undermines the microeconomic foundations of the subject. Not the empirical evidence on…
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This is a response to Jim Wilson’s account to his spiritual journey related in ‘From Yahweh to Papatuanuku: My Long Road Home’. His is a far richer and more interesting story than mine. I’d summarise myself as child of the Enlightenment or – perhaps more accurately– the eighth-plus grandchild of the Enlightenment. I also describe…
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How to run a successful pressure group. In 2013 a group of idealists, led by Jordan Williams and David Farrar, established the Taxpayers’ Union. To celebrate its first decade as surely New Zealand’s most successful political pressure group NZTU published The Mission: The Taxpayers Union at 10, ten short interviews (by David Cohen) of people associated…
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The 2018 Social Security Act suggests that Labour may have retreated to the minimalist (neo-liberal) welfare state which has developed out of the Richardson-Shipley ‘redesign’. One wonders what Michael Joseph Savage, Peter Fraser and Walter Nash would have thought of the Social Security Act passed by the Ardern Labour Government in 2018. Its principles were…
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Commentary on Malcolm McKinnon’s Poverty and Progress in New Zealand: thoughts on WB Sutch’s work in historical and intellectual context. Stout Research Centre, 24 April, 2024 When Bill Sutch was first told by his physician that he had advanced terminal cancer, he responded ‘that can’t possibly be true, I have far too much to do’….
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This is a background to my column ‘Te Tiriti as a Social Contract’. (February 2024) In 1956, historian Ruth Ross presented her investigations of the treaty signed at Waitangi on 6 February 1840 to a seminar concluding, ‘The [Māori and Pakeha] signatories of 1840 were uncertain and divided in their understanding of [Te Tiriti’s] meaning;…
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Interpreting the agreement made at Waitangi as a social contract is a way to move forward on treaty issues. (This column follows ‘Our Understandings Of Te Tiriti Has Evolved Organically’.) Te Tiriti is in the form of a social contract of the sort that political theorists have discussed since the seventeenth century to explain how…
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In his Economists in the Cold War, Alan Bollard contrasts Saburo Okita of Japan with Zhou En Lai of China to highlight a critical issue. Saburo Okita (1914-1993) was in Manchuria (northeast China), in the port city of Darien (Chinese: Dalien) which was occupied by Japan at that time. Because they were politically unsympathetic to…
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Alan Bollard, formerly Treasury Secretary, Reserve Bank Governor and Chairman of APEC, has written an insightful book exploring command vs demand approaches to the economy. The Cold War included a conflict about ideas; many were economic. Alan Bollard’s latest book Economists in the Cold War focuses on the contribution of seven economists with each one…
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Review in ‘Newsroom’ 9 May, 2023 In 1972, The New Zealand Journal of History published the article “Te Tiriti o Waitangi: Texts and Translations” by Ruth Ross (1920-1982). Its impact continues 50 years later, and is likely to remain significant in another 50 years. It’s one of the most influential pieces of work by a…
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Presentation to U3A Southland series on Housing in NZ, via ZOOM, 17 February, 2023. Throughout my life as a professional economist, I have been challenged by the question of whether goods and services should be provided privately or publicly. I recall in the 1960s, when there were strong calls for nationalisation of many things, the…
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