Tag Archives: Public Credit

Labour’s future policy direction

As Andrew Little and the rest of the Labour Party heirachy sit down to decide policy and strategy for the next 3 years, they would do well to consider this Gordon Campbell interview with Bryan Gould. Yes Gould is part of a review committee that is reporting back to Labour on its election defeat but I […]

Print some money for Christchurch

The debt problems of the Christchurch and Auckland City Councils have been in the news of late. Now I’m not going to defend the records of the last few administrations in those cities. In Auckland in particular there seems to be a meglomaniac desire to become a “global centre” with all the trappings, to play […]

Your money starts life as debt – Its official!

If there was any remaining doubt the Bank of England has confirmed what heterodox economists have been saying for decades. The economic text books are wrong. Banks do not accept deposits from savers and intermediate them into loans to borrowers. Nor do they rely on the multiplier effect or are limited by reserves. The loans in fact […]

1935 – Labour, Fletchers and State Houses

New Zealand has a long history of government provision of state housing – well built homes funded by the state but built by private enterprise and rented to low income families. The first Labour government wasn’t the first to build them. That honour goes to the Seddon Liberal Government with its 1905 Workers’ Dwellings Act. But […]

Have the New Zealand Green Party become banal?

Realpolitik, the belief that politics should be pragmatic and based on “reality” rather than any form of utopian or moral ideology. By moving to the banal center of New Zealand politics, that empty wasteland where policies and ideas are reduced to a single sentence or 30 second sound bite, where the debate is framed by […]

How we should fund our economy – Public credit not debt

The key is to fix our financial system. Our economy has failed due to malfeasance — financial, corporate, regulatory and political. We need a new financial system we can trust, not a new wig on our old pig. – Laurence J. Kotlikoff, professor of Economics at Boston University The recent banking fiasco in Cyprus and […]

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 […]