by Brian Easton

Could the alienated grumpies have a greater effect on New Zealand political life?

This was written before John Key announced his resignation. Other than perhaps the tense I think there is no need for revision. 

Unfortunately most analysis on the American elections focuses on who voted but, as Bob Chapman pointed out, the Non-Vote Party plays an important role. This is yet another example of Gilling’s law of how you score shaping the game; in this case pollsters tend to score voters and pay little attention to those who do not vote.

A new book leads to ponderings on our technology strategy. 

Technology is an ambiguous notion. Its most common use in economics arises in the following way.

The laws of thermodynamics mean that there exist production functions which relate inputs to outputs. The most familiar ones have a single output generated by inputs of labour and capital, although there can be other inputs such as land, energy, intermediate goods and imports.

Can Trump wreck the world trading system?

New Zealand is such a small country that it is very easy to be internationally bullied. Much of our diplomatic effort aims to minimise such bullying, but fear of it lurks behind concerns about what a Trump administration might do, not only to us but the rest of the world. Could the US, big enough to be hard to bully, disrupt the world trading system?

The times are a’changing, as recent macroeconomic fashions are being abandoned and old verities are being restated. 

Alan Blinder, an American economist, described as ‘one of the great economic minds of his generation,’ was an economic adviser to President Clinton and was a Vice Chair of the American Federal Reserve (central bank). He is known to many as the co-author of an extremely successful textbook.

The alienated Angries who supported Brexit and Trump are not going to go away.

          If any question why we died,  

          Tell them, because our fathers lied.

While overall income inequality may have been relatively stable over the last two decades, it appears to be increasing in Auckland (and perhaps in our other big urban centres).

This column honours Bob Chapman (1922-2004), professor of Political Studies at the University of Auckland, remembered for his mentoring of many students including Helen Clark. He was an early New Zealand social scientist who did not just study elections but used the results to explore the social development of New Zealand.

A novel about an historical event reminds us of the health redisorganisation of the 1990s, raising issues remaining relevant to today. 

I puzzle at how politicians and advisers can make giant mistakes but are never held accountable. The notion of accountability became fashionable in the neoliberal changes of the 1980s and many people further down in the system now work under tighter surveillance than they did then.

Pretending it can, or that the Reserve Bank of New Zealand can function independently from the rest of the world, could generate a financial crash. 

The very joining of monetary policy and fiscal policy into a single phrase is a criticism of the neoliberal macroeconomics. The reconfiguration under Rogernomics assumed that the two could be administered independently of one another, and gave an authority and power to monetary policy beyond what any reasonable analysis would conclude.

What does the latest Economics Prize in honour of Alfred Nobel tell us about economics as a science?

Alfred Nobel did not endow a prize in economics. In 1968 the Swedish National (i.e. central) Bank founded a ‘Prize in Economic Sciences in Memory of Alfred Nobel’. The award’s announcement is coordinated with the annual Nobel Prize awards.

No, but we need to address poverty. Focusing on poverty targets which are not to be achieved in the time of the government which sets them is wasting energy and opportunity. 

Despite being frequently ignored, Gilling’s Law is one of the most powerful social laws I know. Formulated by Don Gilling, a retired professor of accounting and finance, it states that the way you score the game shapes the way the game is played. A simple illustration is that when they increased the points for a try, rugby games became more attacking in order to score more tries.