Some lessons for NZ…

… especially:

Economic rent must be hunted down and killed. Landlords should make a decent living but not get rich. Housing should be turned into a utility: relatively cheap and easy to afford. (Some European countries are close to this already, some aren’t.) High returns on financial games must be ended: move to public (postal) banking. End high returns on financial companies. Break up the big financial firms, and make the new smaller banks and finance companies loan to new businesses. End stock market bubbles and enforce 50s style financial regulation.

Where utilities, roads, trains and so on have moved into the private sector, nationalize them.

As a general rule no one gets wealthy without creating new products for export or creating products which reduce the need to import

Leave a comment