scholarly journals The Factor Shares Debate: An Update

1970 ◽  
Author(s):  
Geoff Bertram
Keyword(s):  
Economic Theory ◽  
New Zealand ◽  
Balance Of Power ◽  
The Other ◽  
National Accounts ◽  
Employment Contracts ◽  
System Of National Accounts ◽  
Long Period ◽  
Relative Gains ◽  
Factor Shares

The division of the national product between capital and labour is an old topic in economic theory but since the ending of New Zealand's old system of national accounts which were prepared on an income basis; it has been harder to track the trends in factor shares in New Zealand. The paper assembles figures to see whether there is any sign that the change in political conjuncture (and hence potentially the balance of power in the labour market) in the mid-1980s had any effect on factor shares in the product. The hypothesis is that the 1984 election marked the end of a long period of relative gains for labour at the expense of capital, and was followed in the following two decades by a trend in the other direction, to which the Employment Contracts Act might have contributed. As usual the numbers speak only softly and have to be interpreted with the greatest caution.

Two Properties, One Land: Law and Space in Nineteenth-Century New Zealand

1999 ◽  
Vol 24 (04) ◽  
pp. 807-852 ◽  
Author(s):  
Stuart Banner
Keyword(s):  
Nineteenth Century ◽  
New Zealand ◽  
Property Rights ◽  
Market Economy ◽  
Religious Belief ◽  
Balance Of Power ◽  
The Other ◽  
Political Organization ◽  
Property System ◽  
Level Of Consciousness

If we use the word land to refer to the physical substance, and reserve the word property for the intellectual apparatus that organizes rights to use land, we can say that in colonial New Zealand, the British and the Maori overlaid two dissimilar systems of property on the same land. That difference in legal thought structured each side's perception of what the other was doing, in ways that illustrate unusually clearly the power of law to organize our awareness of phenomena before they reach the level of consciousness. Over the course of the nineteenth century, as the balance of power gradually swung to the side of the British, they were largely able to impose their property system on the Maori. The centrality of property within the thought of both peoples, however, meant that the transformation of Maori into English property rights involved much more than land. Religious belief, engagement with the market economy, political organization—all were bound up in the systems by which both peoples organized property rights in land. To anglicize the Maori property system was to revolutionize Maori life.

scholarly journals Permanent budget surpluses as a fiscal regime

2017 ◽  
Vol 17 (4) ◽  
pp. 1043-1063 ◽  
Author(s):  
Lukas Haffert
Keyword(s):  
Political Economy ◽  
New Zealand ◽  
Fiscal Policy ◽  
Balance Of Power ◽  
The Other ◽  
Fiscal Crisis ◽  
Budget Deficits ◽  
Comparative Political Economy ◽  
Path Dependent ◽  
Fiscal Regime

Abstract This article challenges the focus on budget deficits that permeates the literature on the comparative political economy of fiscal policy. It analyzes countries running budget surpluses and asks why some preserved these surpluses while others did not. Whereas several OECD members recorded surpluses for just a few years, balanced budgets became the norm in Australia, Canada, Denmark, Finland, New Zealand and Sweden in the late 1990s. The article compares both types of countries. Focusing on Canada and Sweden, it argues that a path-dependent shift in the balance of power among competing fiscal policy coalitions explains why surpluses persisted in one group of countries but not in the other. This reconfiguration of fiscal conflict was triggered by a deep fiscal crisis and an ensuing expenditure-led consolidation. It can be interpreted as creating a ‘surplus regime,’ in which fiscal policy became structured around the goals of balancing the budget and cutting taxes.

scholarly journals The Employment Contracts Act: An Interim Assessment

1970 ◽  
Vol 19 (3) ◽  
Author(s):  
Kevin Hince ◽  
Raymond Harbridge
Keyword(s):  
New Zealand ◽  
Labour Market ◽  
Social Relations ◽  
Social Costs ◽  
The Other ◽  
Alternative Strategy ◽  
Ongoing Debate ◽  
Employment Contracts ◽  
The Impact ◽  
Broad Consensus

The Employment Contracts Act bracketed with the other market-oriented changes of the decade, has changed the nature of economic and social relations in New Zealand. In hindsight it seems that a broad consensus has emerged that some change was necessary. But the debate will continue to rage as to whether the direction, extent and speed of that change was necessary, whether the espoused benefits of that change have been  achieved, and whether those benefits have been equitably shared. There will be further ongoing debate as to whether any benefits have outweighed the costs, especially social costs, of the programme of change. This essay is a contribution to that debate focusing on the specific issue of the Employment Contracts Act and the labour market; the impact and outcomes. It is argued that similar or better economic outcomes (with less social divisiveness) could have been achieved by an alternative strategy.

Non-observed Economy in the CIS Countries

2009 ◽  
pp. 86-95
Author(s):  
Yu. Ivanov
Keyword(s):  
International Standards ◽  
General Level ◽  
National Accounts ◽  
System Of National Accounts ◽  
The World ◽  
Cis Countries ◽  
Key Indicators

The article contains a review of underlying concepts and definitions of non-observed economy which are formulated in the international standards on this topic and used by the CIS countries for computation of GDP and other key indicators of the System of National Accounts. The article considers the methods used for measuring non-observed economy and some figures on the share of non-observed economy in GDP of the CIS countries and other selected countries of the world. Perfection of methods of measuring non-observed economy and raising reliability of its estimates requires improvement of general level of work on compilation of national accounts.

Structuralism as a Pamphlet (On the Book by E. Reinert “How Rich CountriesGot Rich... And Why Poor Countries Stay Poor”. 2nd ed.)

2014 ◽  
pp. 147-153
Author(s):  
P. Orekhovsky
Keyword(s):  
Economic Theory ◽  
Economic Development ◽  
Structural Analysis ◽  
Increasing Returns ◽  
The Other ◽  
Static Theory ◽  
Poor Countries ◽  
Historical School ◽  
Socio Economic Development ◽  
The Relationship

The review outlines the connection between E. Reinert’s book and the tradition of structural analysis. The latter allows for the heterogeneity of industries and sectors of the economy, as well as for the effects of increasing and decreasing returns. Unlike the static theory of international trade inherited from the Ricardian analysis of comparative advantage, this approach helps identify the relationship between trade, production, income and population growth. Reinert rehabilitates the “other canon” of economic theory associated with the mercantilist tradition, F. Liszt and the German historical school, as well as a reconside ration of A. Marshall’s analysis of increasing returns. Empirical illustrations given in the book reveal clear parallels with the path of Russian socio-economic development in the last twenty years.

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