On 2023-08-30, James Christophers <
jmschristophers@gmail.com> wrote:
On Thursday, August 31, 2023 at 9:36:40 AM UTC+12, JohnO wrote:
On Thursday, 31 August 2023 at 09:12:22 UTC+12, Crash wrote:
This is a comparison of NZ against other nations, expressing our
Current Account balance (currently in deficit) as a percentage of our
GDP. The same comparison is done for other countries in the OECD:
https://thefacts.nz/economy/current-account/
We also have a summary from One News of an IMF report (81 pages) on
NZ:
https://www.1news.co.nz/2023/08/29/nz-at-risk-of-falling-into-deeper-recession/
This is cause for concern, given that our exports are so dependent on
China's food consumption which is waning at present.
--
Crash McBash
But Robertson tells us we're doing OK. Is he lying, incompetent, both, or is he correct and knows better than the IMF - what with his extensive eduction, training and background in economics and commerce and everything?
https://www.stuff.co.nz/business/300665457/its-no-laughing-matter-poor-productivity-affects-all-new-zealanders
Well that was another sobering article.
“Increasing productivity in the long run, is fundamental to improving well-being.” says Michael Bealing, an economist with the NZ Institute
of Economic Research (NZIER).
“There’s a lovely quote from American economist Paul Krugman I like ‘productivity isn't everything, but in the long run, it's almost everything’.
“A country’s ability to improve its standard of living over time depends almost entirely on its ability to raise its output per worker.”
“We have to get away from just trying to throw more labour at problems, particularly cheap labour. We have to think about using technology and
using more skills-based approaches, and to be prepared to be on a learning curve.”
In other words this is why we need a Governemt which can lead, to explain
that working smarter is what will buzz your wallet, we need to think smart.
Let the machines do the heavy lifting and humans do as little as is needed.
The country as a whole needs a vision. AI has entered the playing field and
NZ is still trying to get the previous version up and running. There should
be a drive from Goverment to help this happen.
Also what is needed for each firm to find the lazy workers and ask then what aspects of the organisation they would remove. Lazy people only do what is required, all the accumulated fluff is not needed. The question why are we doing this? needs to be asked frequently, if the answer does not satisfy the person asking the question, then the action should be stopped, for it is probably not helping to increase the productivity.
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