Gordon Campbell | Parliament TV | Parliament Today | News Video | Crime | Employers | Housing | Immigration | Legal | Local Govt. | Maori | Welfare | Unions | Youth | Search

 


Nine Day Fortnight Is Economic Lunacy

PRESS RELEASE

FOR IMMEDIATE RELEASE
Recession

Nine Day Fortnight Is Economic Lunacy

Echoing comments made by Austrian economists such as George Reisman and Peter Schiff, Libertarianz leader Richard McGrath said attempts by governments to intervene during a time of market correction will prove counter-productive and costly in the long run.

“The nine-day fortnight is just the latest example of voodoo economics, promoted by ignoramuses, whereby successful businesses will be forced to subsidise the unsuccessful,” said Dr McGrath. “The alternative would be for the government to stand back, and allow successful industries and employers to expand and flourish so they can soak up unemployment by hiring staff and reallocating resources from failing enterprises.”

“The reality is that some businesses have to be allowed to go under,” he added. “There is no point propping up doomed industries and companies whose products are unwanted or whose structure is unsound. Winners – those who sell products and services for which there is actual demand – should not be sacrificed to losers. Governments have a bad habit of backing losers, or for turning those they try to support into losers. The Libertarianz Party believe in allowing the necessary adjustment in trade markets to occur without political interference.”


ENDS

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

PARLIAMENT TODAY:

Transport Report: LGNZ Calls For Proactive Approach To Mobilise Regions

LGNZ has today released Mobilising the Regions, its major transport study, which highlights the economic and social impact of strategic transport decisions nationally and in the regions, and the direct link between regional development, national prosperity, social well-being and cohesiveness. More>>

ALSO:

Transport: New Rules Bring Double-Deckers To Our Cities

New rules that allow buses, including double-deckers, to carry more people will ramp up the public transport offering in our cities, Transport Minister Simon Bridges and Associate Transport Minister Craig Foss say. More>>

ALSO:

Cycling:


Images & Video: Four Alternative Flags For Referendum

Flag Consideration Panel chair, Professor John Burrows, said the Panel’s decision had been guided first and foremost by the results of its engagement programme across a range of communities where thousands of Kiwis shared what was special about New Zealand, as well as the Panel’s own selection criteria. More>>

ALSO:

Labour: New Figures Show Speculators Rampant

New figures released by the Reserve Bank show there’s been an explosion in mortgage lending with most of the growth going to property investors, Labour’s Housing spokesperson Phil Twyford says. More>>

ALSO:

False Official Information Response: English's Apology Accepted

Finance Minister Bill English is being thanked for his apology to New Zealand First Leader and Member of Parliament for Northland Rt Hon Winston Peters... Mr English says his staff and the Treasury have searched again, and they found the document that they denied having. More>>

ALSO:

Midwives On Pay Equity: Historic Bill Of Rights Case For High Court

“We have been left with no choice.” That from Karen Guilliland, the Chief Executive of the New Zealand College of Midwives, as the organisation prepares to file a pay parity discrimination case on the basis of gender under the NZ Bill of Rights Act in the High Court. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Politics
Search Scoop  
 
 
Powered by Vodafone
NZ independent news