Carl B. Latro (![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png)
birguslatro) wrote2016-12-07 05:54 pm
birguslatro) wrote2016-12-07 05:54 pm
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An Economist's View of John Key's Years as NZ's PM
The guy's not very impressed...
http://sciblogs.co.nz/the-dismal-science/2016/12/06/keys-legacy-economists-view/
"It has been eight largely wasted years – building on at least the previous nine largely wasted years – in which none of the big structural economic challenges New Zealand faced has been even seriously addressed."
There's an interesting graph there showing "Real GDP per hour worked", with NZ flat-lining by that measure when Key's government took office while Australia continued to improve. Tax-cuts were partly what got National into office, so maybe they worked against productivity.
Key I think was mostly just unlucky. The GFC began to bite just as he took office and then the Christchurch earthquake happened in his first term too. Not a good time to make large course corrections.
http://sciblogs.co.nz/the-dismal-science/2016/12/06/keys-legacy-economists-view/
"It has been eight largely wasted years – building on at least the previous nine largely wasted years – in which none of the big structural economic challenges New Zealand faced has been even seriously addressed."
There's an interesting graph there showing "Real GDP per hour worked", with NZ flat-lining by that measure when Key's government took office while Australia continued to improve. Tax-cuts were partly what got National into office, so maybe they worked against productivity.
Key I think was mostly just unlucky. The GFC began to bite just as he took office and then the Christchurch earthquake happened in his first term too. Not a good time to make large course corrections.