Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Opinion: Economic Debate - Formative Not Robust

Business Think Tank 4.2.00.

Economic Debate Formative - but not yet Robust

By Howard Scott

I was pleased to see further economic debate in the NZ Herald today but have concluded that it isn't deep or robust enough to start seeking INTEGRATED solutions to the lethargy of the NZ economy.

Whilst Rod Oram correctly identifies that NZ is not part of the New Economy (NZ Herald 4.2.00. - page C 1) Ralph Norris (NZ Herald 4.2.00. - page C 2) does not give me the impression that he (or the Round Table) fully understand the micro economic linkages between fundamental facits of our economy.

To clearly make these linkages in my mind - I find it useful - to distinguish five economies in NZ. These are: the primary economy, the domestic economy, the import economy, the export economy and the new economy.

Unfortunately these five economies are not currently within the same "cycle" and in my opinion - when overviewed - are dysfunctional.

These five economies need to be co-ordinated through "harmonious" - micro economic policy, a sensitive Reserve Bank approach to macro economic policy and innovative competitive economic policy advanced through the Minister of Finance.

In this way the five NZ economies can be brought into one integrated cycle and shed their dysfunctional dis-equilibrium.

In my opinion, to achieve a new functional integration - of the NZ economy - there needs to be greater discussion and debate across the five economies by members of the five economies - so that a greater understanding of the micro economic policy linkages across all five economies - can be developed

For NZ to be internationally successful and competitive all five economies must FUNCTIONAL - this means in practice - that they must be innovative, profitable and robust - and not working at cross purposes - as at present.

The extent to which INTEGRATION is successful can be quickly confirmed by the Current Account Deficit/Surplus.

ends

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Onetai Station: Overseas Investment Office Puts Ceol & Muir On Notice

The Overseas Investment Office (OIO) has issued a formal warning to Ceol & Muir and its owners, Argentinian brothers Rafael and Federico Grozovsky, for failing to provide complete and accurate information when they applied to buy Onetai Station in 2013. More>>

ALSO:

Tomorrow, The UN: Feds President Takes Reins At World Farming Body

Federated Farmers president Dr William Rolleston has been appointed acting president of the World Farmers’ Organisation (WFO) at a meeting in Geneva overnight. More>>

ALSO:

I Sing The Highway Electric: Charge Net NZ To Connect New Zealand

BMW is turning Middle Earth electric after today announcing a substantial contribution to the charging network Charge Net NZ. This landmark partnership will enable Kiwis to drive their electric vehicles (EVs) right across New Zealand through the installation of a fast charging highway stretching from Kaitaia to Invercargill. More>>

ALSO:

Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>

Earlier:

Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>

ALSO:

Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news