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Garry Moore's avatar

When will we get true independent analysis of the impact of neo-liberal economics on the cohesion of our community? This applies around the world. When the IMF printed an article by a Nobel Prize winning economist recently saying that they had it wrong with neo-liberalism I had to have a lie down. At long last.....

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Richard Santillan's avatar

These results were entirely predictable 30-40 years ago during the heyday of the “New Zealand Experiment”. This failed experiment meant to kick start the economy with opposite effects happened during the age of Neoliberalism, which after the initial jolt after global hyperinflation of the early 80’s has been progressing slowly and surely across the globe. NZ was the fastest and most radical, and had economic repercussions that led to among the slowest growth of the OECD. It didn’t work, but the ideology became so entrenched it stuck. The political gutting of unions, relative economic inequality due to radical tax flattening (the poor paying a much larger relative portion of their income), privatizations and deregulations all led to this catastrophe. And now the newly rebooted hyper-neoliberalism in NZ is a recipe for disaster.

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