In my book, governments that do not publish a competent cost-benefit assessment justifying their spending and regulatory proposals do not take community wellbeing seriously.(Only if the wellbeing benefits plausibly exceed the costs is the policy likely to benefit the public.) The absence of such an assessment is now common. It suggests that a measure is being imposed on the public for partisan or elitist, paternalistic reasons. Read more

A news item this week reported the Minister of Health was “enormously frustrated”. We can think of quite a few in the private sector who know that feeling. Read more

The government’s announcement on Sunday of subsidies for electric vehicles did not make any case that the benefits to the public would plausibly exceed the costs. To fail to demonstrate positive net benefits is to fail to make a public wellbeing case for the measure. Read more

Last week’s government budget reinforced the sense of fiscal fantasy that arises when one contemplates the unprecedented deficit spending funded by central bank credit creation occurring here and elsewhere. The government plans to borrow around $30 billion net in the coming fiscal year. Read more

Too many New Zealanders demand and expect too much from Government. One result is a never-ending cycle of disappointment and fruitless exhortation. Read more

Currently, every house auction is a contest between competing bidders. The auction confronts each bidder with the last price bid. Read more

Suppose you have an apple orchard. You hire labour to pick and pack your apples. Read more

The Climate Change Response Act 2000, the Climate Change response (Zero carbon) Amendment Act and the Climate Change Commission’s draft advice have two things in common. First, their purported primary goal is to reduce global net greenhouse gas emissions. Read more

In Greek mythology, Hercules was tasked with slaying Hydra, a gigantic and deadly water snake. Hydra had multiple heads. Read more

There are those who say that government can only give away the produce of the productive. There are those who say that government can spend up to national income, but not beyond. Read more