jetpack domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /mnt/stor08-wc1-ord1/694335/916773/www.tvhe.co.nz/web/content/wp-includes/functions.php on line 6131updraftplus domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /mnt/stor08-wc1-ord1/694335/916773/www.tvhe.co.nz/web/content/wp-includes/functions.php on line 6131avia_framework domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /mnt/stor08-wc1-ord1/694335/916773/www.tvhe.co.nz/web/content/wp-includes/functions.php on line 6131
Sorry I haven’t been posting – been extremely busy, and although I have some ideas I won’t have time to write until next week.
On that note though – New Zealand has managed draws against Slovakia and Italy. We beat Paraguay we are, regardless of other results, through to the last 16. Wow – good stuff All Whites 😀
So the OCR went up 25 basis points. Cool, that is nice.
It was almost entirely in line with expectations so there isn’t much to say, except:
One thing I have noticed of late is that many people want to talk about tax cuts in terms of “who gets what”. We see someone with an income of $XXX and say they will get $Y a week from the tax cut. I find this perplexing as I have never seen tax this way.
The reason why I find this way of looking at tax changes strange is that it ignores how prices change in response to the structure of the tax system. I fear that, to many people, this seems like a benign (possibly even esoteric) issue – when actually it is one of the most essential issues to keep in mind when thinking about the design of a tax system.
Saturday morning breakfast ceral has an excellent comic regarding the prisoner’s dilemma. Of course, I was bound to appreciate it given my view that Jesus was an early applied economist.
Apologises in advance for this heavily value ladden post. I am touching on infinitely busy (again), I’m very tired, and I’ve been listening to “too much” Irish music. As a result, I’m posting what is in my head rather than proactively trying to find an economic issue to write “objectively” about – as this is easier, and it still involves getting a post done 😀
When forming my value judgments regarding “moral vices”, I like to listen to the Dubliners. Having a proud Irish heritage helps in this regard, and I feel that they raise a number of important points regarding addiction to common commodities I can relate to (alcohol, women, cigarettes, roving).
Listening to their songs recently, two underlying points suck out – points I felt would be useful in informing part of the debate on alcohol regulation.
I was about to post a comment on Eric’s blog – but then the comment got long, and I realised I needed a blog post. So here it is.
Eric Crampton raises some important points regarding the Reserve Bank’s view on the ETS in New Zealand. Essentially, they are ignoring it – a policy decision that a lot of analysts have disagreed with. However, this is one of those cases where I would tend to side with the Reserve Bank, lets work through the discussion to figure out what value judgments I’ve made to get there 😉
Update: Eric discusses further here.