I’m not going to argue the merits or otherwise of the New Zealand Government’s decision to enforce a lock-down and close all non essential businesses. That decision has been made, and our best option as a nation now is to apply it as stringently as possible so that we get on top of the virus’s […]
There has quite rightly been a storm of criticism of the Labour Government’s Kiwibuild initiative in the last couple of weeks. While it may be true that the policy was never intended for low income households, the PR promotion of a couple as early beneficiaries of the scheme, likely earning significantly above the median household income, […]
There has been significant criticism of the new Labour Government Finance Minister, Grant Robertson, of late because of his determination to stick to his budget surplus & government debt to GDP targets outlined in his Budget Responsibility Rules that formed part of the coalition agreement. Even orthodox economists are ambivalent about this government “borrowing” more […]
A fundamental part of MMT is a Government Job Guarantee. Basically this is a commitment for the government to act as employer of last resort at minimum wage. Everybody who wants a job up to 40 hours a week can get one regardless of circumstances. It removes all involuntary unemployment and underemployment. If you have […]
This is a multi part exposition of Modern Monetary Theory (MMT) & the closely associated topics of a Job Guarantee & deficit financing. It also along the way challenges the ideological political & economic project commonly referred to as neoliberalism. The topic may seem dry, esoteric or even boring, but its implications are profound, affecting […]
The latest policy release by TOP leader Gareth Morgan that they would like to introduce a $10,000 pa Universal Basic Income for all New Zealanders, starting with parents of under 3’s, and make National Superannuation a means tested top up, is the most “radical” policy announcement from a political party in years. It set me […]
Forget the email server scandal. Bernie Sanders dismissed it as a sideshow during the Democratic Primary and he was right. All politicians are hypocritical and lie sometimes. Forget Wikileaks and the Podesta emails. They merely gave confirmation to existing biases. What undid Hillary Clinton was the same sentiment that was behind Brexit. Ordinary working people, and […]
It was only a matter of time before Gareth Morgan entered the political sphere with the Opportunities Party. As a wealthy philanthropist, one time economist/kiwisaver fund manager and author of The Big Kahuna he has the time, resources and intellectual firepower to make a mark on New Zealand politics. It would be a shame if his […]
It’s demand stupid! Housing affordability in Auckland has very little to do with supply and a lot to do with demand; from rampant, out of control immigration in particular, stoked with speculative fever, fueled by easy, irresponsible bank lending and up to $10B pa of laundered money. The failure of the Auckland Council to agree to […]
Of all the initiatives proposed by Jeremy Corbyn, the one least discussed by the media but most threatening to the political and financial establishment is his QE for the people. It remains to be fleshed out. However its basic premise is that, rather than austerity, what Britain needs is for the Bank of England to “print” money, […]
unframed 