Monday, October 30, 2006

liberalism gone completely out of control

from Mother Jones:

In the early 1980s the government of New Zealand fell into the hands of true believers, globalist believers, and they embraced the theory of inevitability perhaps more completely than anybody else. And it solved in the very short term some of their debt problems, but in the medium- and long-term it left them in real economic trouble. One of the things they did was sell of everything they could, mainly internationally, and they got a one-time import of capital, followed by a yearly drain, because they had to send all the royalties out every year. So they had youth leaving in droves, a drain of money, high unemployment and so on. And then in 1999 they made the choice to turn their backs on globalism, which didn't mean to become protectionist, but did mean to put social policy in the center, and economics at the outer rim, and to be much more balanced in their approach. And now they've got their unemployment way down; they've renationalized some things, including their airlines, they've started up a very interesting national small-loans bank, and they've got pretty good growth. Also, the government that came to power 1999 and has enacted this program has just been reelected to a third term.

No comments:

Post a Comment