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New Zealand’s economy has a chronic capital problem – and it is getting worse. Over the last 50 years, New Zealand has become one of the most undercapitalised economies in the developed world. Read more

In Greek mythology, Sisyphus is condemned to spend eternity rolling a massive boulder uphill, time after time, for no lasting gain. Every time he gets it uphill, it escapes his grasp and rolls back to the bottom. Read more

New Zealand’s planning processes have been breaking Wright’s Law for too long. Yesterday’s resource management reform announcement goes some way to fixing things. Read more

It’s fair to say that economists like competition. It’s also fair to say that, when politicians start talking about competition, economists ought to get a little bit nervous. Read more

Imagine being part of a conservation society devoted to eradicating intrusive exotic animal pests. This year, the society will work in a large range where rabbits are ruining the hillsides, plentiful possums have been eating everything, and someone thinks they might have seen a wallaby. Read more

This week, the Treasury barred representatives from the Council of Trade Unions and the New Zealand Taxpayers’ Union from attending its restricted briefing for the Half-Year Economic and Fiscal Update. They had been invited to register their intent to attend the briefing. Read more

To solve a problem, first you have to understand it. Once you understand it, you sometimes realise that it isn’t the same problem you had thought. Read more

Economists’ open letters don’t have that great of a track record. In 1981, some 364 economists warned against UK Prime Minister Margaret Thatcher’s fiscal policies. Read more

Last week, eleven New Zealand economists issued a public letter advocating more government spending relative to revenue. That means yet more debt. Read more