ARTICLE AD BOX
"The country does not appear to [just] be in a cyclical down-turn. ... The evidence ... points more to a long-lasting slow-down ... which has turned [New Zealand's economy] into one of worst performing in the world. ... [The reasons] remain unaccounted for. The 'experts' quoted in the mainstream media, who work for the Big Banks and NZX 50 firms, don't have a clue, though not the modesty to admit it. ...
"So let's look at three explanations for NZ's secular stagnation that the big media outlets refuse to blame.
"First, the vast number of New Zealanders who now 'work' from home. ... An article published in the National Bureau of Economic Research is being quoted world-wide which estimates falls in productivity of around 18% once a person works from home. ...This outbreak of collective laziness is more than able to explain why the country has stagnated. ...
"Second, many of the Board members and CEOs of our largest corporations are nothing short of useless. Many are accountants & lawyers who know little about the core business. ... The higher echelons of NZ corporates have descended into an inbred club of status-seeking social climbers who aren't the real deal. ...
"Third, our national energy has been increasingly sucked up by [endless] Treaty debates. ... spawning industries of academics, lawyers, politicians and media types who do nothing productive, other than argue with one another. ... It has emerged that property rights, the fundamental driver of economic growth, are thereby insecure in NZ, making it a terrible place to keep your money and invest. ...
"[I]t is [therefore] entirely plausible that [all of our economic stagnation is due to] the vast numbers of Kiwis who are now pretending to work from home, hiring and promotion policies not based on merit, ... along with endless going-nowhere Treaty debates which have consumed the energy of the country ..."
~ Robert MacCulloch from his post 'Should NZ's secular stagnation be due to working-from-home, lack-of-meritocracy & endless Treaty debates, then we can forget economic growth.'
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