The most important norm in economics was set by economist Vilfredo Pareto about a century ago. Put simply, the Pareto Criterion says that anything making at least one person better off, while making nobody else worse off, is desirable. Read more
There are not too many policies that can save and improve lives while saving the government money, but Chris Bishop’s member’s bill providing greater compensation to live organ donors may be one. Late Wednesday evening, Parliament voted that Bishop’s member’s bill should proceed to committee. Read more
It seems every Tom, Dick and Sally has something to say about education, and very seldom do they agree on anything. Even where the various parties do agree at a broad level, such as the quality of teachers being important, there is still huge divergence in the views when it comes to the detail. Read more
If you have a nemesis and want to inflict on them a brutal punishment, put away the thumb screws. Wish instead for them to be reincarnated as a transport planner. Read more
Just when the Europeans thought they had calmed down the euro crisis with their third bailout package for Greece, they are reminded of how fragile their economy still is. For a change, Europe’s new worries do not originate from the continent itself. Read more
Earlier this month Genesis Energy announced it was mothballing New Zealand’s only large scale coal fired electricity plant. The move, effective as of late 2018, will reduce the country’s total CO2 emissions by about 2.5%, setting the sector on course to produce 90% of the country’s electricity from renewable sources. Read more
If public policy and economic theory were dating, their Facebook relationship status might read “It’s complicated”. This is because what is sometimes simple to explain on a whiteboard by economists can often be difficult to prove in real life. Read more
You can tell how the mood of the global economy is turning by looking at the books getting published. Over the past few days, review copies of two new books landed on my desk. Read more
The power to say no is also the power to make the rules, or at least in part. Parliament legislates. Read more
The current issue of Policy Quarterly, published by Victoria University of Wellington, has a special focus on Budget 2015. It kicks off with an article by New Zealand Children's Commissioner, Richard Wills. Read more
As the third Greek bailout package is currently being debated in eurozone parliaments, it is already becoming clear that it will not be sufficient. On Tuesday, the day before the Bundestag’s vote, two German broadsheets highlighted some of the uncertainties around the package. Read more
Online shoppers beware: getting that cheap paperback from Book Depository could get a lot harder. But, it will depend on just how the government goes about taxing direct-to-consumer imports. Read more
For reasons that evade me, the New Zealand media seem hell-bent on discussing the flag. Despite describing the referendum as a political distraction and a John Key ego campaign, the same media outlets continue to give the issue oxygen. Read more
With Labour’s bid to cultivate a fear of foreigners buying houses failing to sprout in the polls, the party is now looking to sow the same message to a more fertile field. The farming sector. Read more
Last week, the Prime Minister found words of consolation for people concerned about declining housing affordability. “Aucklanders are getting wealthier,” John Key said as he referred to front page stories about rising house prices in Auckland. Read more