Dr David Tripe from Massey University School of Banking Studies and Dr Bill Rosenberg of the NZCTU spoke on this topic on Monday 7th November in Wellington.

David explained the role of the rating agencies in relation to corporate and sovereign debt, showed that New Zealand's risk profile lay more with private debt owed through the banks than with government debt, warned against the risks underlying the persistent current account deficit, and concluded that while further downgrades were possible the main risk lay in a sudden drop in ratings which was dependent on the banks' own ratings. A copy of his presentation can be found here.

Bill Rosenberg looked at the philosophy underlying the criteria used by the agencies in evaluating sovereign debt, showing that they looked not only at the levels of debt but also made a political assessment of governments' willingness to pay, in other words their willingness to place debt repayment above other political and social policies. His conclusion was that the development of good social and economic policy should downgrade the significance of the role played by the agencies. Bill's presentation can be found here and a detailed paper here.

Brian Easton, one of New Zealand's foremost independent economists, argues in this Fabian lecture that in a time of prolonged economic stagnation we should not equate income with wellbeing, or pursue income growth at all costs. Instead following Aristotle we should promote the good life well lived, as well as with Amartya Sen enhancing people's life opportunities. Certain sorts of collective spending, better health and education, lower income inequality and less stressful unemployment may all contribute more to our economic well-being.

Brian's presentation may be downloaded here. 

A highly successful NZ Fabian Society seminar, Fresh Ideas for the Productive Economy – The Search for Solutions, featuring some of New Zealand’s leading business commentators, economic analysts, innovators and entrepreneurs, was staged in the Legislative Chamber of Parliament on Wednesday 27 July.

Here is an e-magazine with contributor papers.  An outline of the proceedings can be found here, with papers and presentations available here as they come to hand. For ongoing email updates on this topic, please sign up to the Search for Solutions mailing list. 

Ian Pool and Natalie Jackson recently delivered a disturbing message to Auckland Fabians. They exposed the discrepancy between popularly held perceptions of the challenges facing NZ and the realities of demographic trends, long in the making.

Their presentations are available here.