Whether Britain leaving the European Union was right or wrong, good or bad is for the Brits to decide. But there are lessons about international trade to be learned from Brexit, especially as it is very unusual for an economy to break so completely from its major training partner. In Econ101 we are taught Ricardo’s…
Continue reading this entry »
There is a constant theme from the economic commentariat that New Zealand needs to lift its economic growth rate, coupled with policies which they are certain will attain that objective. Their prescriptions are usually characterised by two features. First, they tend to be in their advocate’s self-interest. Second, they are unbacked by any systematic empirical…
Continue reading this entry »
I was asked by a Spanish journalist the following two questions (particular with attention to a historical perspective): How likely do you see (if at all) a transition from an economy based on primary products towards an economy where digital services exports might play an important part? I would also like to ask about the…
Continue reading this entry »
Thursday 24 November The Commission’s report on the seminar is here. It includes the my overheads which accompanied the presentation. Introduction I have been commissioned to prepare a report for the New Zealand Productivity Commission’s inquiry into economic resilience. The purpose of the report is threefold: 1. to describe how New Zealand has attempted to…
Continue reading this entry »
Speech for launch at Parliament of Heke Tangata, Māori in Markets and Cities on Tuesday 15 May 2018. The event is sponsored by Te Whānau o Waipareira, the National Urban Māori Authority and Oratia Media at the invitation of the Hon. Willie Jackson, Associate Minister for Māori Development. Kia Ora Koutou Katoa. I begin by…
Continue reading this entry »
A new book leads to ponderings on our technology strategy. Technology is an ambiguous notion. Its most common use in economics arises in the following way. The laws of thermodynamics mean that there exist production functions which relate inputs to outputs. The most familiar ones have a single output generated by inputs of labour and…
Continue reading this entry »
The alienated Angries who supported Brexit and Trump are not going to go away. If any question why we died, Tell them, because our fathers lied. Arch-imperialist Rudyard Kipling’s bitter couplet, written shortly after the death of his son at Loos in September 1915, is an alternative view…
Continue reading this entry »
Paper to the Fabian Society, 12 October, 2016 While we continue to chew over the carcass of the Fourth Labour Government – the Lange-Douglas one – we pay little attention to the subsequent Fifth Labour Government. Yet the Clark-Cullen one is greatly shaping the current Labour Opposition and the current National Government. It will,…
Continue reading this entry »
WEA Conference, 14 May, 2016, Wellington. The initial invitation suggested I talk about the future economy and its relevance to adult education. I explained that the best advice I ever came across is ‘don’t make predictions, especially about the future’. You get a sense of the difficulties if you go back thirty years ago, say,…
Continue reading this entry »
Are we entering a long period of secular stagnation in which interest rates are low? We cannot foresee all the implications. This has not been an easy column to write, and it may not be an easy one to read. Part of the problem is that there is no agreement within the economics profession as…
Continue reading this entry »
The more one is certain about the state of an economy, the more one is likely to be wrong; the more one is certain about the state of an economy, the greater the media coverage. No wonder the public is confused. I shan’t add to the confusion. In quick summary, the New Zealand’s economic growth…
Continue reading this entry »
How Much of New Zealand Has to Be Owned and Controlled by Foreigners? This year is the fortieth anniversary of the founding of CAFCA – the Campaign Against Foreign Control of Aotearoa – a Christchurch-based, but national, activist organisation. It ‘promotes the concept of an independent Aotearoa based on policies of economic, military and political…
Continue reading this entry »
The OECD says yes; how do we respond? Pundit: 15 December, 2014. Keywords: Distributional Economics; Growth & Innovation; A recently released OECD report concludes that economic inequality hurts economic growth, and has particularly done so for New Zealand. Some of our responses were plain bizarre. Either the non-economic commentators had not understood the issue or…
Continue reading this entry »
How New Zealand businesses succeed internationally. Pundit: 30 November, 2014. Keywords: Growth & Innovation; Literature and Culture; One of life’s pleasure is sitting with a child on one’s lap reading a book to them: attractive – sometimes mysterious – illustrations, humorous – even mischievous – plots, rhythmic sentences and just enough eccentric…
Continue reading this entry »
We should focus more on introducing and adapting the world’s innovations using a skilled workforce. Pundit: 17 November, 2014 Keywords: Growth & Innovation; Labour Studies; Our so called ‘innovation policy’, which is at the heart of the government’s growth strategy – insofar as it has one – seems to be fundamentally flawed….
Continue reading this entry »
Published in Stuff, 2 September, 2014. Keywords: Growth & Innovation; In the two years after the Berlin Wall fell in 1989 and Poland (among others) detached itself from the Russian Empire, the Polish economy contracted by about a sixth. They call it ‘shock therapy’ but the policies which were pursued – privatisation, market…
Continue reading this entry »
In the economic contest between communist China. and democratic India what matters is people. Listener: 9 August, 2014 Keywords: Growth & Innovation; Political Economy & History; The debate in the 1950s was whether the Chinese economy would do better than the Indian one. Both countries had become independent in the late 1940s,…
Continue reading this entry »
Oh for leaders who cushion us from economic blows and remain progressive. Listener: 12 December, 2013 Keywords: Growth & Innovation; Political Economy & History; We might pretend economic management is concerned with accelerating growth, but it is mainly about dealing with the myriad shocks that pepper the economy. The market can…
Continue reading this entry »
Policymaking is too often based on what someone thinks is a good idea. Listener: 5 December, 2013 Keywords: Governance; Growth & Innovation; The Prime Minister’s chief science adviser, Sir Peter Gluckman, has called for the greater use of evidence-based policy formation. It arises out of his medical background, where there has been…
Continue reading this entry »
CLEANING UP CORRUPTION Becoming a democratic country is not as simple as just holding free elections. Listener: 5 September, 2013. Keywords: Growth & Innovation; Political Economy & History; Indonesians think of their country as a democracy following the introduction of relatively fair and free elections after the collapse of the Suharto dictatorship…
Continue reading this entry »