Monthly Archives: June 2012

Of the 1%, by the 1%, for the 1%

Another commentary by Joseph Stiglitz, this time in Vanity Fair on how unbalanced wealth distribution has become in the US (and New Zealand). Apologists like Bob Jones exemplify the libertarian self righteousness of many of the wealthy, especially those who consider themselves “self made”. Most kiwis don’t resent those who have done well but the pie […]

The Armenian Genocide and ANZAC Day

Every year on the 25th of April, New Zealand and Australia commemorate ANZAC day. This day was chosen as it was the first day of the ill fated Gallipoli campaign of 1915, the ill conceived and executed attempt to wrest the Dardanelles from Turkish hands. Most New Zealanders are not aware of horrifying and brutal […]

Time to put Rogernomics to sleep

It is one of the mysteries of New Zealand politics how both the main parties remain so wedded to the neo-liberal economic policies of the 1980’s. After the Global Financial Crisis the only debate should be what do we as a nation replace them with. Instead like Australia, Britain, Canada and the United States we […]

The Price of Inequality

A succinct piece by Joseph Stiglitz outlining why the American dream is a myth for the vast majority of Americans. There has also been the same effect in New Zealand though not as extreme. John Key and the National Party remain advocates though of trickle down economics. It might not be so bad if there […]

Debt Jubilee for New Zealand?

Earlier in the year I wrote a two part exposition of the old idea of a debt jubilee but with a new twist. The proposal by Australian economics professor Steve Keen neatly sidesteps the problem of moral hazard by giving everyone money, not just wiping the slate clean of the indebted. The way it would […]

Captain deluded or market poodle?

History will not be kind to retiring Reserve Bank of New Zealand governor Alan Bollard. But then he will be in good company along with Alan Greenspan, Ben Bernanke, Jean Claude Trichet, Mervyn King et al. His 2010 book Crisis about his experience of the GFC suggested a man tougher on the big banks behind the scenes than […]