National replaces Infrastructure Bank with ramped-up Crown Infrastructure Partners for Election 2023, but policy still stunted by same reluctance to detail population growth view or use Crown debt
At least one politician is taking on board your general theme with Greg Presland calling out the mayor saying that thd Auckland council doesn’t have a debt crisis so hopefully you are not whistling into the wind and maybe a wider discussion can start to take place.
It seems we - and western economics generally? - are being hamstrung by the weight of these guys particularly via the Chicago School and seem to have been darlings of Maggie Thatcher etc. https://en.wikipedia.org/wiki/Mont_Pelerin_Society. Aren't we stuck with same old same old until we can pull all our stagnation out by the roots and find ourselves some other economic persuasion
“Aotearoa’s political economy now appears trapped in its own special definition of insanity, where it does the same thing over and over again, expecting a different result”
Great way to describe it!
Are our politicians really this stupid? Please don’t blame the median voter in your answer because the people in power are the people in power.
Until the governments finances are properly understood we will continue to get these stupid ideas presented as solutions. It is technically impossible for the govt to save.
When it issues currency ( spends) it incurs a liability on its balance sheet ( https://www.treasury.govt.nz/system/files/2023-06/fsgnz-10mths-apr23.pdf page 16 "Issued currency"). When it receives taxes that liability is reduced. If the taxes are a surplus in any year, they dont go into a "savings account" but simply write off more of the liability. As the currency issuer the govt has no need start a bank, partner with the private sector profit finance profit seekers, or borrow.
At least one politician is taking on board your general theme with Greg Presland calling out the mayor saying that thd Auckland council doesn’t have a debt crisis so hopefully you are not whistling into the wind and maybe a wider discussion can start to take place.
It seems we - and western economics generally? - are being hamstrung by the weight of these guys particularly via the Chicago School and seem to have been darlings of Maggie Thatcher etc. https://en.wikipedia.org/wiki/Mont_Pelerin_Society. Aren't we stuck with same old same old until we can pull all our stagnation out by the roots and find ourselves some other economic persuasion
It would be a stretch to call the Chorus layout a success.
“Aotearoa’s political economy now appears trapped in its own special definition of insanity, where it does the same thing over and over again, expecting a different result”
Great way to describe it!
Are our politicians really this stupid? Please don’t blame the median voter in your answer because the people in power are the people in power.
Until the governments finances are properly understood we will continue to get these stupid ideas presented as solutions. It is technically impossible for the govt to save.
When it issues currency ( spends) it incurs a liability on its balance sheet ( https://www.treasury.govt.nz/system/files/2023-06/fsgnz-10mths-apr23.pdf page 16 "Issued currency"). When it receives taxes that liability is reduced. If the taxes are a surplus in any year, they dont go into a "savings account" but simply write off more of the liability. As the currency issuer the govt has no need start a bank, partner with the private sector profit finance profit seekers, or borrow.