Perhaps the most urgent task is to realise that demand-side stimulus cannot fix supply shocks. Ultimately, it took policymakers most of the 1970s to finally realise that. [...]
Challenges, threats, and severe risks abound. But does New Zealand have the institutions to handle them? Does the government have the necessary capabilities? [...]
Would we really like to end up with an arrangement that puts a massive wedge between people’s gross and net incomes? A system, by the way, that also harms employment outcomes, especially for the most vulnerable? [...]