The New Zealand Initiative’s Executive Director Oliver Hartwich presented to the Epidemic Response Committee today, where he outlined his vision for New Zealand’s social, political and economic future. You can watch Oliver’s presentation here (time:1:52). Read more
As the world struggles to contain Covid-19, many countries are at different stages of containment and mitigation since registering their first 100 cases. Some, like South Korea, are more than a month further ahead compared with New Zealand and could offer a good example of what might be expected as New Zealand transitions out of Alert Level 4 lockdown. Read more
Over the past week, protesters across the US have held demonstrations to demand “liberation” from lockdown measures brought in by states to contain the spread of the Covid-19 virus. Fuelled by a belief that the economy must reopen to protect the health of people’s businesses, these public gatherings (often attended by anti-vaxxers and far-right activists) make for colourful television pictures — and divisive social media messages that President Donald Trump has been only too happy to promote. Read more
The New Zealand Initiative supports government deficit spending during the Covid-19 crisis on the basis that it is funded by conventional borrowing. This report explains why funding deficits by central bank credit creation with no credible timetable for reversing the situation is a route to financial disaster. Read more
Wellington, 22 April - No matter how seductive it sounds, central bank funding of the additional government spending on Covid-19 would set New Zealand on a dangerous path, according to a new report by the New Zealand Initiative. The report, Deficit spending in a crisis: why there is no such thing as a free lunch, highlights some concerning ideas from both the government and the Reserve Bank about expanding the money supply to help pull New Zealand out of the Covid-19 economic crisis. Read more
As the end of the world’s strictest lockdown nears, attention is turning to life after Covid-19. The coronavirus may not be defeated anytime soon, but a good deal of thought is needed about how to repair the destruction the virus has already caused to the economy. Read more
Is it 2010 again? Back then, crisis meeting followed crisis meeting to save Europe’s monetary union from collapse. Read more
If the only economics you ever learned was from watching Ben Stein's lecture in the classic film Ferris Bueller's Day Off, you'll still have learned something awfully important for the economic recovery from the pandemic. And it's a lesson that New Zealand and Singapore have taken to heart - as evidenced by the trade agreement Trade Minister David Parker struck last week. Read more
Time flies. Was it only a year ago that New Zealand’s ban on disposable plastic bags at the supermarket came in? Read more
The longer the acute Covid-19 crisis lasts, the more we hear that our economic world will not be the same after the crisis. Some things will of course change. Read more
A fortnight is an eternity in the bewildering Covid-19 world. Two weeks ago, this column argued for a more coherent coronavirus strategy. Read more
Last week, Forestry Minister Shane Jones warned of impending restrictions on New Zealand’s international trade in logs. Even if you don’t really care much about forestry, the Government’s response here may signal what’s in store for the rest of the economy after lockdown. Read more
The world is at war. The enemy may be a tiny virus, but this string of ribonucleic acid has the effect of a large military force. Read more
Wellington, 14 April - The New Zealand Initiative welcomes comments from Finance Minister Grant Robertson today before the Epidemic Response Committee about the need for a principles-based approach to what businesses will be able to operate at Alert Level 3. New Zealand Initiative Executive Director, Oliver Hartwich said: “The essential/non-essential categorisation of businesses or business activities at Alert Level 4 was cumbersome, bureaucratic and difficult for both businesses and consumers. Read more