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Showing posts with label New Zealand performing poorly. Show all posts
Showing posts with label New Zealand performing poorly. Show all posts

Sunday, May 28, 2023

Oliver Hartwich: Capital markets - New Zealand's road to recovery


“There is a lot of ruin in a nation.” It is one of those sayings that is easy to misinterpret.

Taking Adam Smith’s famous quote literally, there are so many ways for a country to go wrong. But it can also be read as saying that there are many ways countries can come back from their difficulties.

Either way, Adam Smith’s 18th century dictum applies to New Zealand today.

Yes, there is a lot of ruin in New Zealand. Much more than would allow one to sleep comfortably. But maybe there is hope.