A row that has erupted over the sale of a $41.7-million block of prime Auckland waterfront land cheaply to Maori as part of a big treaty deal shows the sort of shabby unintended consequences resulting from a flawed attempt to right alleged historical wrongs.
The New Zealand Herald reported that the 3.2ha Takapuna Head site, used by the New Zealand Navy as an officer training school, is being sold back to Ngati Whatua for $13.8-million - but the iwi has been given freedom to do what it likes with the land.
The spending cuts of the EU nations, Krugman argues, have shrunk their economies, without offering any prospect of generating long-term growth. The Europeans, it seems, have emulated the worst of President Herbert Hoover’s skinflint budgets that helped prolong the Great Depression. The United States, which this time around has been more liberal with the purse, has suffered far less damage than the EU, which shunned Keynesian prescriptions.













