Do the Green party really understand basic economics?

By Steve Biddle, in , posted: 16-Jul-2008 18:41

We all know that our economoy is in a downward spiral - and destined for worse things. Inflation has just hit 4% in the year to June and showing no signs of slowing. We are faced with a slowdown effecting the global economy due to rising fuel and food prices.

How do the Green party want to fix this? By asking for bigger wage rises and an increase in the minimum wage. Anybody who's done economics 101 will tell you this is a guaranteed way of ensuring that our inflation reaches double digits and forces out OCR up even futher.

I'm sorry but that's a F for fail.




Other related posts:
Air New Zealand launches Flexitime Membership (and how it can save you $$$)
Have an interest in retail payments and credit card interchange rates? Here’s your chance to have a say.
Fairfax takes journalism ethics and integrity to a whole new low with Stuff fibre








Comment by amphibem, on 16-Jul-2008 18:59

"Anybody who's done economics 101 will tell you this is a guaranteed way of ensuring that our inflation reaches double digits and forces out OCR up even futher." There's your false assumption. Looking at any of the Greens economic policies shows they don't understand basic economics! In fact my macroeconomics lecturer constantly used them as example of bad economic policy.

Still, I guess democracy needs these fringe groups to keep things in check, or something like that.


Comment by destined, on 17-Jul-2008 08:42

It reminds me of Labour at the last election saying that dropping the interest on student loans would not lead to an increase in student borrowing. Yeah Right!


Add a comment

Please note: comments that are inappropriate or promotional in nature will be deleted. E-mail addresses are not displayed, but you must enter a valid e-mail address to confirm your comments.

Are you a registered Geekzone user? Login to have the fields below automatically filled in for you and to enable links in comments. If you have (or qualify to have) a Geekzone Blog then your comment will be automatically confirmed and shown in this blog post.

Your name:

Your e-mail:

Your webpage:

sbiddle's profile

Steve Biddle
Wellington
New Zealand


I'm an engineer who loves building solutions to solve problems.


I also love sharing my views and analysis of the tech world on this blog, along with the odd story about aviation and the travel industry.

My interests and skillset include:

*VoIP (Voice over IP). I work with various brands of hardware and PBX's on a daily basis
  -Asterisk (incl PiaF, FreePBX, Elastix)
  -Polycom
  -Cisco
  -Linksys
  -Patton
  -Zyxel
  -Snom
  -Sangoma
  -Audiocodes

*Telecommunications/Broadband
  -xDSL deployments
  -WiMAX
  -GSM/WCDMA
  -WiFi

*Structured cabling
  -Home/office cabling
  -Phone & Data

*Computer networking
  -Mikrotik hardware
  -WAN/LAN solutions

*Wireless solutions
  -Motel/Hotel hotspot deployments
  -Outdoor wireless deployments, both small and large scale
  -Temporary wireless deployments
   
*CCTV solutions
  -Analogue and IP

I'm an #avgeek who loves to travel the world (preferably in seat 1A) and stay in nice hotels.


+My views do no represent my employer. I'm sure they'll be happy to give their own if you ask them.


You can contact me here or by email at stevenbiddle@gmail.com

twitter.com/stevebiddle