Tougher than the ‘90s? We are Unprepared for the Coming Tsunami of Unemployment
Our unemployment rate for the March Quarter was 5.3% and forecasted to rise to 5.8% by year-end. More than 160,000 Kiwis are out of work; 77,000 of them are young, aged 15 to 24. Youth unemployment is more than three times the overall rate, a staggering 17%. The government has just announced another 8,000 job cuts, using AI. The private sector is bound to follow this poor example of using AI to replace jobs rather than complement them.
Hiring of youth and new graduates has slowed. We could be in for a tsunami of job losses that New Zealand is unprepared for. It’s imperative that we protect workers by preventing undue hardship while they look for work or retrain. Tougher than the ‘90s? We are Unprepared for the Coming Tsunami of Unemployment
How Meritocracy Failed New Zealand and Fuelled Populism
The upcoming elections have brought the ugliest immigration policies from the coalition parties. Māori rights are under unprecedented attack. Unemployment is surging, and those losing jobs due to the weak economy are vilified. The support for centrist parties has shrunk, and race relations have worsened. A generation of young people expresses discontent by emigrating to Australia, voting with their feet. We need a change in course to avoid a more confrontational and uglier politics and a more divisive society. How Meritocracy Failed New Zealand and Fuelled Populism
Sri Lanka – An Air of Optimism
There is an air of optimism following the NPP Party’s election on an anti-corruption platform. GDP grew by 5% last year, and GDP per capita exceeded US$ 5,000 (nearly double that of India) for the first time. Sri Lanka has a very high literacy rate of 97% with almost no gender gap; however, English literacy is only 22%. Labour force participation is low at 50%, as the female participation rate is only 35%. The country is well-positioned to grow due to its highly literate population and tourism potential. Perhaps, finally, Sri Lanka will fulfil its promise to become an island paradise. Sri Lanka – An Air of Optimism
Can Religious Principles (Ethics) Make a Better Society?
Can embracing religious (ethical) principles improve ourselves and society? Can religion help all people and not just those who have reached a crisis point and look to religion for comfort? Can religion help the rich and successful, the squeezed middle and low-income earners? Help us search for prosperity with ethical principles? Steer us away from the harmful pursuit of wealth at all costs? Can Religious Principles (Ethics) Make a Better Society?
The Coalition’s War on Workers
We have not seen the decimation of workers’ wages, rights and benefits as under the current government for at least thirty years. Even safety regulations to ensure our workers return home safely from work have been weakened. The plight of workers, especially those on low wages, already weakened, will worsen further if the coalition wins another term. Our workers have a choice to make.The Coalition’s War on Workers
Coalition’s Attacks on Māori – A Disaster Waiting?
The Climate, Māori and Workers are under attack more than at any time in recent history. How much damage will another term of the coalition do to race relations? Former Prime Minister John Key, speaking to a National Party Conference, warned them to “take the temperature down” on race relations. This seems to have fallen on deaf ears and could have disastrous consequences.Coalition’s Attacks on Māori – A Disaster Waiting?
The Cold Hard Truth About Collective Ambition and Productivity
Our politicians should invest in research and development and artificial intelligence, not blame hard-working New Zealanders for taking holidays in January for our low productivity. The Cold Hard Truth About Collective Ambition and Productivity
The Coalition Government is Wrecking the Climate
New Zealand is no longer on track to meet its 2050 net-zero emissions target, or the third emissions budget for 2031 to 2035. The assault on Climate Change action continues unabated. Nothing this government does can make up for the damage they are doing to the climate and race relations. I shudder to think where we will end up if this government is re-elected. The Coalition Government is Wrecking the Climate
The Man-Sized Hole: Why NZ’s AI Strategy Ignores the Future of Work
New Zealand’s National AI Strategy doesn’t even mention employment impact and is unprepared for job displacements. Economists Korinek and Stiglitz argue that we must actively steer AI to enhance jobs to avoid the problems that led to dissatisfaction and populism with the advent of the internet and automation. The workers must be actively involved in decisions regarding AI deployment. New Zealand lags behind most countries in AI deployment and is likely to fall further behind other rich countries in productivity and prosperity. The Man-Sized Hole: Why NZ’s AI Strategy Ignores the Future of Work
Will New Zealand Botch the Next Opportunity to Boost Productivity?
New Zealand is the last country in the OECD to release its National Artificial Intelligence (AI) Strategy, and is falling behind other small, advanced countries. Our government plans to spend $70 million over the next seven years, compared to $ $1.4 billion by Singapore. We will miss the opportunity to catch up with other rich countries unless we change course dramatically. Will we Botch the Next Opportunity to Boost Productivity?
Aging Populations – Time to Act, not Panic Stations
Lord Adair Turner, the Chair of the UK’s Energy Transition Authority, argues that we should welcome the declining fertility as the natural outcome of economic progress and women’s freedom to choose, not a looming crisis. It’s time to act, not panic.
Our regional communities are fighting for survival and face bleak prospects following the closure of factories and mills. Paul Collier, Professor of Economics at the University of Oxford, argues that such places spiral down unless there is timely intervention. Regional development banks of which, perhaps the best example is KfW, which led the development of East Germany, raising East Germany’s GDP per capita from 20% of West Germany’s at reunification to 85% today. It’s morally wrong to disregard these communities in times of distress and leave them vulnerable to the perils of despair, addictions and populism. A regional development bank will be an ideal permanent solution. Act Now to Save Our Struggling Towns!
Prosperity Requires Lifting Everyone
Image courtesy of Interaction Institute for Social Change Artist: Angus Maguire
Public Services Minister Judith Collins introduced legislation in August to remove diversity requirements for public service recruitment. Shouldn’t the disadvantaged starting the race of life fifty meters behind the rest, running against strong headwinds, fighting an uphill battle, deserve a leg up? A fair go in New Zealand? Prosperity Requires Lifting Everyone
Scandinavian Dreams and Not Taxing the Rich
Higher Taxes are inevitable due to rising superannuation, healthcare, education and defence expenditure.We must confront reality: the cost of essential services will rise, and higher investments are critical to boost our productivity.Unlike most rich countries, we don’t have capital gains, wealth or inheritance taxes.Is there now any excuse for taxing the richest in the land at 9%? Scandinavian Dreams and Not Taxing the Rich
Electricity Companies We Own Are Failing Us
Energy costs are rising in New Zealand, crippling our industries and hurting our people. Three out of the four largest electricity companies are majority state-owned. They must act with national interest and not price-gouging quasi-monopolies.
Electricity Companies We Own Set Up to Fail Us