The Case for Public Spending

David Hall’s expert summing up of the case for public spending is now available. It’s essential viewing for anyone interested in the debate about privatisation and asset sales. There is also a podcast available here.

Public Spending: The Driver of Economic Growth

davidhall As New Zealand’s economy struggles to achieve anything like the output required to ‘catch Australia’, the sale of state assets is on the agenda yet again. The failed experiment of the 80s and 90s looks to be recycled in a one off attempt to lessen the deficit. The Fabian Society welcomes this timely visit by David Hall of the PSIRU, an expert in public service provision, particularly in the water, energy, waste management and healthcare sectors.

David's thesis is that, far from being a burden on society, public spending is an essential driving force, providing universal services for human development - healthcare, education, social security - and also the essential infrastructure making other economic activity possible, such as water, electricity, roads.

The seminar is free and will be held Monday 14th February, 6.30pm – 8.00pm, at the Auckland Trades Hall, 147 Great North Rd, Grey Lynn. You can register here.

If you know of others who would be interested, please take advantage of the 'Tell a Friend' feature on the registration page.

David’s visit to New Zealand is sponsored by the Public Service Association.

2010 Wrap Up

Inciting Debate

This has been an outstanding year for the NZ Fabian Society and I would like to tell you why.

Early in 2010, a small group of us got together, believing what New Zealand needs is a national debate on the sustainability of our society and the policies that shape it. This led us to rekindle the NZ Fabian Society and plan a nationwide programme of activities themed on 'economic resilience'.

We have been delighted with the results. An influx of members and high seminar attendances revealing a thirst for information and debate. Among the year's achievements have been:

Running 24 seminars, lectures and workshops on a wide range of topics in Auckland, Christchurch and Wellington
Becoming an Incorporated Society
Gaining 140+ members
Establishing branches in Auckland, Wellington, Christchurch and Dunedin
Presenting a Resilient Economy Workshop as a Labour Party Conference Fringe event

We have provided opportunities to learn about and debate key economic and social issues. The presentations for most of these are available for download, and for some there are also podcasted recordings. These are highly recommended holiday reading for those who missed an event or who want to revisit some of the ideas. In the following list, click on the name of the event for a podcast, or on the presenter's name for a copy of their presentation:

In the Resilient Economy Series:

Bold Choices for a Better Future

Selwyn Pellett, Rod Oram, Ganesh Nana and John Walley

Reshaping the New Zealand Economy (Podcast Chch Part 1 & Part 2 plus Auckland)

Rick Boven, John Walley & Ganesh Nana

Time for a Complete Rethink

Bernard Hickey and Selwyn Pellett

In the 2010 Budget Series

Budget Background

Peter Harris

The 2010 Budget

Peter Conway

General Economics

Economics for Everyone (Podcasts Part 1, Part 2a & Part 2b)

Jim Stanford (Part 1 & Part 2)

Are There Any New Arguments for Privatisation?

Jim Anderton, Fraser Carson and Bill Rosenberg (Paper & Slides)

Your Kids Aren't Happy

MADE (Making a Difference in Economics) Auckland University Students (Poverty & Climate Change)

Social Policy

Why Not Fix Child Poverty? (Podcast)

Susan St John, Sue Bradford and David Choat

Our objective is summarised in our motto, to ‘incite debate’. The response to the seminars so far indicates that the state of the New Zealand and world economies weighs heavily on us all. There is a widespread desire for an understanding and critical assessment of the failed models of the last thirty years.

The Fabians strongly reject the neo-liberal slogan ‘there is no alternative’ (TINA). Instead, we believe ‘there are real alternatives (TARA), and we have aimed to both supply and critique alternatives to assist that debate.

And the problems remain. The New Zealand economy is stalled. The Government talks about the need to promote the export sector but says it can do nothing about the main inhibitor to investment, an exchange rate that fluctuates wildly because of speculation.

Our success in inciting debate on fundamental economic issues has been reflected by the increasing attention in the media and elsewhere of topics not publically in New Zealand for decades.

2011 – a big year for New Zealand.

So, we are looking forward to 2011 and are kicking off again with the theme ‘Bold Choices for a Better Future.’ What better year to debate this than in election year?

We aim to sharpen the debate and refine the alternatives. We intend to mix the standard lectures with more interactive debates, and continue to seek presenters who are expert and committed to New Zealand's future.

We want to thank all of you who have made it along to the seminars or followed us on line. Thanks for being interested enough to join the debate and add to the growing chorus of those who believe urgent action is needed if NZ is to retain control over its own future.

Please continue the conversation with family and friends and have a safe and relaxing Xmas.

Mike Smith, Chair

PS We are very grateful to our presenters, who have all given freely of their expertise and insight. It has also been great to see how their interaction inside the seminars have led to further insights and clarification of ideas. While we have aimed to incite debate, it has always been constructive.

We are also grateful to the Gamma Foundation trustees, who have made a significant contribution to our finances. We do not have the necessary resources for a full-scale think tank, and run a very lean operation. Contributions and donations to support the running of the seminars, including travel for presenters, are very welcome.

Issues in Privatisation – Costs & Benefits

This is the text of a seminar paper delivered on 6 October. You can Download a PDF or the Slides.

New Zealand has had an appalling experience of privatisations. The sale of New Zealand Rail and Air New Zealand went so wrong that renationalisation was an imperative. Among the others there was the abject failure of Telecom to develop our telecommunications system despite monopoly profits, most of which went overseas with little reinvestment, the handover of our banking system to the Australian banks through the sale of the Trustee Savings Banks, the Bank of New Zealand and Postbank, only marginally remedied to date by the creation of Kiwibank; the scandalous bargain price sale of the Government Printing Office to kick start the empire of New Zealand and Australasia's wealthiest man, Graeme Hart; continuing dysfunction in the partially privatised electricity system which created blackouts, huge price increases, inadequate investment and still fails to provide reasonably priced and secure power; conferral of duopoly status in commercial radio through the sale of Radio New Zealand's commercial stations; the loss of huge potential for further processing in the sale of forestry cutting rights; and Housing Corporation mortgagees feeling defrauded when their mortgages were sold to private financiers.

Your Kids Aren't Happy - a Group of Young Economists Talk About Their Future

A group of economics students, Making a Difference with Economics (MADE), from the University of Auckland Department of Economics, is going to discuss its concerns and hopes for the New Zealand economy. They will be presenting on the theme of intergenerational inequity.

This will be a challenging experience. If our economy continues to decline, the chances are these students will have to work a lot longer than this generation, pay for their own health care and clean up the planet after we have finished messing it up.

These students will go on to careers as opinion leaders and economists across the globe and will influence their generation.

What are their issues? Are they prepared to face the challenges we seem happy to avoid?

This free seminar, introduced and moderated by Associate Professor Rhema Vaithianathan, will be held 6.00-7.30pm, Wednesday 20th October 2010, in Room 310, Decima Glenn, Owen Glenn Building, University of Auckland Business School.

You can register here. If you know of others who may be interested, please take advantage of the 'Tell a Friend' feature on the registration page.

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