Wednesday, June 21, 2017

NZ Productivity (via 'Croaking Cassandra')...

A while ago, I listed Michael Reddell's blog 'Croaking Cassandra' as a good one to follow for critique's of New Zealand's macro economic performance. His has had a few posts on productivity - the measure of wealth produced per unit of effort (normally GDP/hour). The latest presents this graph:

And recall how often we compare our economic indicators to Oz?

GDP phw NZ vs Aus June 17

In layman's terms we are poorer as a nation. The relevance of this to the Maori economy - always pitched as a way to grow the NZ economic pie - is that there is no extra paua's or pipi's for social programmes.

Hard rain's gonna fall.

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Simon Lambert

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