Playing the Neo-Liberals’ Game

The advice offered by some of its leading thinkers that Labour should switch the focus away from the role of central government and towards a greater devolution of power to the regions and communities has a fashionable ring to it.  But it is another, perhaps unwitting, admission of the left’s damaging loss of intellectual self-confidence. […]

An Economic Policy for a Post-Neo-Liberal World

Alert: this article is 5000 words long AN ECONOMIC POLICY FOR A POST-NEO-LIBERAL WORLD Economic Policy Is Not A “No-Go” Area The global financial crisis, when it broke in 2008, seemed likely to mark a conclusive end to the neo-liberal hegemony that had dominated world politics and the global economy for more than three decades. […]

Labour Should Challenge Macro-economic Policy

Stewart Wood in this week’s Guardian is right to argue that the paradoxical popular support for George Osborne’s manifestly failing policies for recovery should not mean that Labour must abandon its social democratic approach to solving the nation’s problems. The drive for “responsible capitalism” is of course an important aspect of such an approach, and […]

The Reserve Bank Governor

Alan Bollard is a big man – well over six feet [around 1.9 m?] tall – but even his shoulders are not broad enough to bear the burdens placed on them. To point this out is not so much to criticise the Reserve Bank Governor as to lament the role in which he is cast. […]

Macro Economic Policy Is What Counts

As we begin the New Year with the hope of climbing out of recession, we are in danger of overlooking – or misunderstanding – one of the lessons we should have learnt from the global downturn. What the meltdown should have taught us is that economics, as Keynes insisted, is a behavioural science. It is […]

Learning the Lessons

As the world-wide recession seems to be bottoming out, one question is being asked with increasing frequency and urgency. Have we learnt the lessons so that it will not happen again? The answer – at least in the US and the UK – is not a reassuring one. As the hard-pressed taxpayer, already burdened with […]

Let’s Hear It For The Macro Economy

The decisions announced last week by Fisher and Paykel and the ANZ Bank to relocate parts of their operations overseas grabbed the headlines and sent a shock wave through New Zealand industry. What may not be so apparent, however, is that the factors that led to those decisions have been part of our day-to-day experience […]