Insights

Freedom, the fundamental human right

You may be all in favour of free speech, but some people believe allowing tobacco companies to freely advertise their products requires an exception, as might donations to political campaigns, or statements that might impinge upon another person’s reputation. The devil is in the detail.

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Insights

‘P’ is for price

Politicians play with the price system at their peril. Yet there are minimum wage laws, rent controls, price controls and other ways of distorting prices. Usually introduced with best intentions, these measures prevent markets from working properly.

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Insights

Labour’s monetary upgrade

Those who believe they can neatly choose between higher unemployment and higher inflation, typically end up with both. Labour does not seem to be aware that policies which will drive down the exchange rate and boost employment can even have a price level effect.

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Insights

There is no magic in numbers

Whether there is enough competition in the New Zealand retail sector, is hard to tell. First of all, you would need to decide on how to measure it. But one thing is clear: a superficial look just at the number of competitors is not enough to accuse them of anti-competitive behaviour.

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Insights

‘H’ is for history of economic thought

Knowing something about the development of economics can save you from having to reinvent the wheel. As Hayek once said, “in economics you can never establish a truth once and for all but have always to convince every generation anew.” Economic knowledge easily gets forgotten if one is unaware of its history.

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Insights

‘E’ is for entrepreneur

So next time you are looking for a better bargain, or a new job, you may feel a little like Gordon Gekko, Citizen Kane or Mr Burns: we are all entrepreneurs now … even the French.

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Insights

Still a long path to an NZ/EU free-trade deal

There are at least three obstacles that are in the way of a free trade agreement with the Europeans. First, Europe has other priorities at the moment. Second, the EU remains an organisation with protectionist instincts. And third, we may have more to gain from a deal with the EU than vice versa.

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