New Zealand has consistently performed as one of the wealthiest countries in the world with very high living standards. With a GDP per capita of $53,000 USD, this places New Zealand substantially higher than many of their Western counterparts, like Australia ($47,000 USD) and the UK ($39,000 USD). New Zealand’s prosperity has been achieved throughContinue reading “Keynesian Kiwis?”
Tag Archives: keynes
Britain’s Decline: 1950-79
John Maynard Keynes revolutionised the Economics profession. Through developing the foundations for the New Keynesian consensus that occupies policymakers today. However, successive Labour and Conservative governments stuck religiously to the Keynesian demand-management model, neglecting the supply-side performance of the economy that continuously lagged behind its peers. Heavy government intervention, a key tenant of the originalContinue reading “Britain’s Decline: 1950-79”
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