Are you old enough to remember 45s?
21 Jan 2016 Leave a comment
in economic history, economics, economics of media and culture, Music
The unsung tourism boom across the globe
21 Jan 2016 Leave a comment
in economic history, international economics Tags: economics of tourism
John Cowperthwaite passed this day 2006.
21 Jan 2016 Leave a comment
in development economics, economic history, growth miracles Tags: Hong Kong, John Cowperthwaite
An Orgy of Innovation | MRUniversity
20 Jan 2016 Leave a comment
in economic history Tags: The Great Enrichment
New Zealand inflation rate adjusted for CPI measurement bias since 1970
20 Jan 2016 Leave a comment
in applied price theory, business cycles, economic growth, economic history, macroeconomics, monetary economics, politics - New Zealand Tags: CBI bias, inflation rate, measurement error, price indexes
1% to 1.5% is the usual estimate of bias in the consumer price index because of the introduction of new groups and quality upgrades in existing goods. I have adjusted the consumer price index inflation rate back to 1970 in New Zealand by 1.5% to see how long ago prices became stable. I know this is a rough adjustment, but it is still informative. If anything, the bias in the consumer price index from new goods and product upgrades is increasing rather than decreasing.
Source: Reserve Bank of New Zealand.
Prices have been stable or falling in New Zealand’s for at least three years now once bias in the consumer price index is taken into account. Despite this deflation, the economy seems to be getting along pretty well. There is also a long period of more or less stable prices in the 1990s once bias is taken into account in the measurement of consumer prices by the Statistics New Zealand.
The distance #WWII fighters could fly from the UK
20 Jan 2016 Leave a comment
in economic history, war and peace
@FairnessNZ shows how everything is getting better in NZ @FIRST_Union
20 Jan 2016 Leave a comment
in applied welfare economics, economic history, labour economics, politics - New Zealand, poverty and inequality Tags: Employment Contracts Act, employment law, Leftover Left, rational ignorance, rational irrationality, top 1%, union power, Withering away of the proletariat
The union movement posted two excellent charts during the last election showing how well things have gone since the 1980s economic reforms and their consolidation in the early 1990s.
The charts show that real wage growth returned in the early 1990s after the passage of the Employment Contracts Act and the consolidation of government finances. This was after two decades of wage stagnation in what the unions regards as the good old days.
Furthermore, as the union chart shows, the average incomes of the top 1% in New Zealand is a pretty stable for several decades. Whatever else is happening New Zealand, you cannot blame it on the top 1% because they are lazy. What increase there was in average top incomes in New Zealand was followed by the return of real wage growth in New Zealand and a long economic boom where the unemployment rate drop below 3.5%
The main bugbear is housing affordability which is a result of the Resource Management Act passed in 1993 as the union chart shows. The unions, the Labour Party and Greens all support the laws that result in this housing unaffordability.
The growth of Wal-Mart mapped
20 Jan 2016 Leave a comment
in economic history, entrepreneurship, industrial organisation, survivor principle Tags: creative destruction, entrepreneurial alertness, technology diffusion, Walmart
Child poverty is twice 30 years ago? @GarethMorgan @povertymonitor @geoffsimmonz
19 Jan 2016 Leave a comment
in applied welfare economics, economic history, politics - New Zealand, poverty and inequality, technological progress
#moreinclusivenz @povertymonitor Killer graphs & #infographics by NZ Children's Commissioner. Shameful content, NZ http://t.co/mG987C5kh0—
Isabella Cawthorn (@fixiebelle) July 26, 2015
37% of kids in poverty in working homes. 47% of kids in poverty in two-parent homes. #mythbusting #itsnotchoice https://t.co/1V9PLw9r9G—
Child Poverty NZ (@povertymonitor) December 16, 2015
The Miracle of New Zealand
18 Jan 2016 Leave a comment
in applied price theory, applied welfare economics, comparative institutional analysis, constitutional political economy, economic history, economics of regulation, politics - New Zealand Tags: Roger Douglas, Ruth Richardson
Creative destruction in super rich
18 Jan 2016 Leave a comment
in economic history, entrepreneurship Tags: superstars, top 1%
Danish and New Zealand unemployment rates since 1960 @nzlabour @grantrobertson1
17 Jan 2016 Leave a comment
in economic history, labour economics, labour supply, politics - New Zealand, unemployment Tags: Denmark, employment law, labour market deregulation
The Labor Party thinks the Danish labour market is something of a model for New Zealand despite its inferior performance on unemployment.
Data extracted on 17 Jan 2016 03:44 UTC (GMT) from OECD.Stat.
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