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OXYTOXIC TIMES: Emotions are getting in the way of economic theory.

Listener 27 December, 2003.

Keywords: History of Ideas, Methodology & Philosophy;

There was much laughter over the economist who presented a paper that assumed people made optimal calculations when deciding on higher education. The paper plodded on for pages, but came to a grinding halt with a mathematical equation that the presenter could not solve �� without the wit to conclude that the study demonstrated that one needed a degree in mathematics in order to decide whether to go to university.

MEASURING PPP-ADJUSTED GDP: AN ANOMALY

This is the second of a series of papers concerned with PPP measures. The papers are in varying presentational styles and also reflect my growing understanding of the issues involved, and my improving presentation of them.See Measuring PPP-adjusted GDP Index for the other papers. This paper, written in December 2003, is an exposition based on tabulations.

Keywords: Statistics;

THREE SHORT BOOK REVIEWS: For the 2003 Listener Books of the Year.

Listener: 20 December 2003.

Keywords: Environment & Resources; Governance; Macroeconomics & Money;

TREASURY: The New Zealand Treasury 1840-2000, by Malcolm McKinnon (AUP, $50).

THE GREAT UNRAVELLING: Losing our way in the new century, by Paul Krugman (Viking, $35).

THE LOST WORLD OF THE MOA: Prehistoric life of New Zealand, by Trevor Worthy and Richard Holdaway (Canterbury University Press, $169.50).

BRIAN EASTON, D.Sc.

On 17 December, 2003 the University of Canterbury conferred a D.Sc. on Brian Easton for studies in the Political Economy of New Zealand.

Notes Towards the NEW ZEALAND CENTRE FOR GLOBALISATION STUDIES

Keywords: Globalisation & Trade;

Introduction

The conditions for a Marsden Grant require some technology transfer above the publication of articles and teaching. My successful application for a contribution to my research program on globalisation proposed that I would establish a virtual New Zealand Centre for Globalisation Studies (NZCGS), since I am not in a position to supervise research students directly.

STRESSFUL FISCAL SUMS: Should the government spend more and tax less?

Listener: 13 December, 2003.

Keywords: Macroeconomics & Money;

The history of the modern Treasury �� described in Malcolm McKinnon’s landmark Treasury �� is one of fiscal stress, extreme fiscal stress or intolerable fiscal stress. You might think from the government accounts that is not currently true, for the Treasury reported a “surplus” of $5.6 billion for the year ending June 2003 and promises another comparable one this year. (This surplus’s exact name is “operating balance excluding revaluations and accounting changes” or OBERAC.) For a detailed description of the OBERAC.

NOTES ON OBERAC. The Cash Surplus and Other Measures in the Government Accounts:

This note was written to accompany Stressful Fiscal Sums: Should the Government Spend More and Tax Less? I am grateful for assistance from an economist who for various reasons cannot be named.

Keywords: Macroeconomics & Money;

OBERAC (the operating balance of government excluding revaluations and accounting policy changes) can be looked at as to how it is made up. and what happens to the quantum. The following focuses on the what happens to it. My comments in italics.

THE MARSDEN GLOBALISATION PROJECT

Paper for �New Zealand�s Role in World Affairs� Conference, VUW, 5 December, 2003.

Keywords: Globalisation & Trade;

A few months ago I was awarded a three year Marden Grant to study globalisation and New Zealand�s role in it. It is a topic I have been long working upon, developing out of my earlier study of the New Zealand economy summarised in my book In Stormy Seas: The Post-War New Zealand Economy, whose theme can be summarised as �the fate of New Zealand will be largely a consequence of what happens overseas, together with our ability to seize the opportunities and manage the problems those events.�

Brian Easton