Kiwiblog brings up some great points about the importance of this years budget. It turns out that the head of Treasury stated that this was the most important budget since 1984. Wow. So he’s saying that this is more important than the “mother of all budgets“. When National came to power in the early 1990’s […]
iPredict just added a “return on investment” ranking – so that we can see who made the most out of their limited capital. Although I am not on the list (Note: I wonder why, was my initial investment too low to be included?), I noticed that “Economist” is number 1. Furthermore, I’m relatively sure that […]
Earlier we discussed the urban regeneration project. Now it appears that the project requires a bailout (ht Greg Mankiw):
I would suggest that anyone who is interested in economic models reads this post, namely because I agree with it wholeheartedly 🙂 While it might seem cool to run some regressions and get a result that you believe will tell you the future it is important to realise what your implicit assumptions are. If you […]
I just asked this new Wolfram Alpha search engine “what is economics”. It told me: Economics: The branch of social science that deals with the production and distribution and consumption of goods and services and their management This differs from the Robbins definition of economic science: Economics is a science which studies human behavior as […]
Of productivity talk. On dicussing the NZIER report (which we discussed here) Kiwiblog mentions: Productivity growth is all important. Productivity is a ratio – I could increase it right now by shooting half the population. It is the output that matters here, and how much we have to sacrifice to get it. Increasing output (which […]