Do the Green party really understand basic economics?
By Steve Biddle, in
General, 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.
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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:
Netsys HPNA/HCNA adapter review
When is a deal not necessarily a deal? When you buy it from Spreets.
Are NZ consumers being duped by retailers as Digital TV comes to town?
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Comment by destined, on 17-Jul-2008 08:42 , user id: 29396)
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!
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Comment by amphibem, on 16-Jul-2008 18:59 , user id: 35436)
"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.