Listener 19 December 1998.
Keywords: Macroeconomics & Money;
There will be frequent reference next year, to repeating the “fin de siecle”, a movement of decadence at the end of the nineteenth century. However the economic end of an era may be this year. If so, it will be identified with the Russian financial crisis of August 1998. This is not because of the size of the economy, but rather numerous financial institutions were heavily exposed to Russian debt. Some were highly “leveraged”, with a high debt to equity ratio, and are very vulnerable. One hedge fund had a liquidity crisis, others have taken a terrible financial pounding.
Cullen, Anderton, English and Bradford Would Make A Great Team
Listener18 December, 1999.
Keywords: Political Economy & History;
Right to the last day before the election, business commentators presented their own self-interest disguised as ideology disguised as analysis, in a vain attempt to affect political outcomes. They symbolised the end of an era: out of touch with the polity, out of touch with the economy, arguing a case that was known to have failed, as if it is impossible to learn from experience.
Paper to the Annual Conference of the New Zealand Historical Association, Hamilton, 7 December 1999.
Keywords: Political Economy & History;
The question of whether New Zealand has an economic history could be thought of as rhetorical, with an obvious answer of yes. But if we take it as a question about the state of current New Zealand historiography – asking whether historians include the economy in the stories which they tell about New Zealand – the answer is less obvious. If we look at many of the accounts of our history, be it the grand overview or a monograph or essay, we find them bereft of any conscious portrayal of the economy interacting with society and having some influence on the path which New Zealand takes. This is a very sweeping statement and there are exceptions – notably some of the work of John Gould, Brad Patterson and Russell Stone. Nevertheless this paper could take some standard histories and illustrate the broad proposition, including suggesting various insights the writers missed because they ignored an economic context.
Listener 4 December, 1999.
Keywords: History of Ideas, Methodology & Philosophy; Political Economy & History;
At the University of Sussex, where I taught in the 1960s, we talked about “the social control of industry, rather than social ownership.” This was a response to an ongoing debate in the British Labour Party, which had nationalised various industries in the 1940s, was nationalising more in the 1960s, and still had Clause Four in its objectives: “the social ownership of the means of production, distribution, and finance.” The point of the Sussex phrase was that ownership is a means to an end, and that there are other ways of pursuing it. In many industries, market competition will give society the outcomes it wants, far better than nationalisation and monopoly.
Paper commissioned by the Ministry of Consumer Affairs and available on their website. (December 1999)
Keywords Business & Finance
Listener 20 November 2000
Keywords Growth & Innovation; History of Ideas, Methodology & Philosophy; Social Policy
Nineteenth century economists tended to focus on material output, assessing how well off someone was by the amount they could consume. That notion dominates today’s economics. Pushed, an economist might say it is better to have more material goods than less or, perhaps more humbly, that economics was only good at analyzing materialism, so all the other things which make up human happiness are assumed as given, or that they correlate with material consumption. To acknowledge so would, of course, downgrade the importance of economics, and of economists, which might be no bad thing.
Paper to Forum on the Future of Universities, University of Canterbury, 17 November 1999.
Keywords: Education;
“They measure knowledge by bulk, as it lies in a rude block, without symmetry, without design.”(1)
The Idea of a University(2)
If this independent scholar may begin with a quotation from another independent scholar, albeit a much more eminent one. John Stuart Mill wrote in his Utilitarianism:
“It is better to be Socrates dissatisfied than a pig satisfied; better to be Socrates dissatisfied than a fool satisfied. And if the fool, or the pig, are of a different opinion, it is because they only know their own side of the question. The other party to the comparisons knows both sides.”(3)
Listener 6 November 1999.
Keywords Health
Most of us are aware of Multiple Sclerosis victims in wheelchairs or with walking sticks. In fact the disease may have affected the sufferer up to two decades earlier, initially with a loss of muscular coordination – perhaps at first vision, then isolated numbness, to a progressing weakness in the legs. It does not much affect life expectation, nor does it affect intellect. The sufferers know that they will experience an increasing loss of muscular control.
by Michael Bassett Archifacts, Oct 1999, p.60-65.
Keywords: Political Economy & History;
According to the author “[t]his book originated in a chance conversation I had in 1993 with Roger Kerr, Executive Director of the New Zealand Business Roundtable. In response to a question about my writing, I told him that I intended to recount the story of the Fourth Labour Government after 1984, but that I first had to understand how it was that New Zealand had come to the stage where drastic restructuring had become a matter of urgency. Roger Kerr suggested that I might undertake that initial study; the Business Roundtable would pay some of the expenses involved in the researching such a big project.”
Listener: 23 October, 1999
Keywords: Macroeconomics & Money;
Two major economic indicators for the June quarter were released a couple of days before the Prime Minister announced the election date. Both were depressing: the current account deficit – how much New Zealand has to borrow overseas – was at near record levels; while GDP – how much New Zealand produces – declined. There will be no further major official statistics released before November 27th, although the importance of each minor one will be over-played. (Both the Treasury and the Reserve Bank macro-economic forecasts published during the election campaign are likely to be more subdued in comparison to their last ones.)
