by Brian Easton

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.

A report explains why: small but accumulating biases together on top of adverse early-life social and environmental conditions.

To be frank, this column on criminology is not in an area of my expertise. But in the course of my reading to place economics in a social context – I do that a lot – I came across an old report which I suspect most people who care have not come across earlier either. So this column is really from a journalist telling about a report.

We don’t need to refresh trade policy; we need to rethink how best to engage with the world in the context of increasing globalisation. 

The Government is ‘refreshing’ its international trade strategy. Refresh is a euphemism. It ought to overhaul it. Here are some guidelines; I begin with the overarching framework.

Last week’s report on wellbeing and the household income distribution told us some new things. Are we listening?

Sadly, the latest MSD report The Material Wellbeing of NZ Households, by Bryan Perry, released last week, passed by quickly. It said, broadly, that there is no obviously significant shift in the level of inequality in recent years.

Is it possible to have sensible discussions in public?

Last June there was a kerfuffle in the online magazine Spinoff over attitudes to intellectual activity in New Zealand.

What are the possibilities for the future housing prices? What can we do?

Two eminent but retired Reserve Bankers, Don Brash and Arthur Grimes, have argued that house prices should halve. I am not sure whether they actually mean it or are just vividly pointing out that house prices are about double the sustainable level. I probably use a different method of calculation but have come to a similar assessment.

As the proposed Ministry of Vulnerable Children shows, we do not take prevention seriously.

In 1920, someone wrote in the Maoriland Worker, ‘The politician is like the person who would build an ambulance at the bottom of the cliff, instead of constructing a good fence at the top.’ The image seems to have been coined in a late-nineteenth-century poem by the English temperance activist Joseph Malins.

A Professor of Education challenges universities about their purpose.

What are universities really for? was the topic of a recent lecture by Hugh Lauder, professor of Education and Political Economy at the University of Bath (previously on the Canterbury and VUW faculties).