2014

Reforms are still possible … but they take time

Mr Key’s defining strategy is one of incremental radicalism. It resists any bold rhetoric or big picture reforms. In their stead, reforms are taken one step at a time. This enables the government to make its case and take the public along a journey. [...]

A Greek olive branch for Steve Keen

At the risk of sounding like a broken record, the eurozone is an unworkable construction which will condemn its members to repeated crises like the one first experienced in Greece. It is not too late to end this disastrous experiment. [...]

The economics of Christmas

Stock markets used to be more buoyant just before Christmas, but that effect has been in decline in most capital markets – except for New Zealand. [...]

Greece’s presidential gamble could trigger the next eurozone crisis

In late 2009, Greece started the eurozone crisis. Five years later, the country’s problems are still large enough to trigger the next big eurozone disaster. [...]

New Zealand’s quiet achievers

New Zealand’s future prosperity depends on the degree to which public opinion will support productivity-enhancing reforms and on the quality of political leadership in building constituencies for reform and implementing acceptable reforms. The same can be said about Australia, where reforms are much more urgent now. [...]

New Zealand’s lessons for Australia

New Zealand proves that reforms, even in mature democracies, are still possible. They should be possible in Australia as well where they are much needed. For any political leaders wishing to embark on a process of economic reform, whether in Australia or in Europe, a look at New Zealand may well be inspirational. [...]

Quiet Achievers: The New Zealand Path to Reform

Do today’s politicians have the courage to make hard choices? Or has the furious pace of modern politics put an end to the age of reform? While Australia has been avoiding difficult decisions, the New Zealanders have been silently forging ahead. [...]

PM should follow Kiwi path to reform

Ultimately, Australia’s future prosperity depends on Abbott’s succeeding in just that. The adoption of the New Zealand method of quiet, incremental radicalism may be Australia’s best hope of rediscovering the art of reform. [...]

Why abolishing cash is not on the money

Kenneth Rogoff may be a good economist but he ignores something quite fundamental about the role of money. Cash may no longer be king, but it is a little piece of freedom we carry in our wallets. [...]

Germany’s elites reveal their true colours

For Germany’s reputation as a place to do business, both cases are damaging. They leave a stench of corruption and unjust enrichment on a country that otherwise likes to celebrate its transparency and cleanliness. They are more reminiscent of a banana republic than one of the leading developed countries in Europe. [...]