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?
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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