Excellent points, also Hong Kong is second bottom which is odd.
Yesterday I wrote that
the single economic issue that I care about most is reversing the decline in New Zealand’s relative economic performance that has been going on, in fits and starts, since at least the middle of the twentieth century, if not longer.
A few minutes after posting that I noticed a story about some new work by Arthur Grimes and Sean Hyland of Motu, in which they suggest that perhaps there isn’t a problem at all. One of the authors was also nice enough to get in touch and alert me to it. As they put it
“…New Zealand households have amongst the highest material living standards in the world”
They have quite a long technical working paper, which I have dipped into to answer some specific questions but have not read in full. But the seven page Motu Note, “The Material Wellbeing of New Zealand Households” tells…
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