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BUSINESS

By Bernard Hickey (see photo), 29 September 2010
 
Why we must abandon the economic orthodoxy and embrace capital, trade and exchange rate controls
 
I feel like a priest who has been wrestling with his belief in god and has now decided god does not exist.
 
It's time for me to recant and to say what I've been thinking for months: the economic god of completely free markets and capital flows is not worth believing in anymore and we must look for other things to believe in and do.
 
I think New Zealand needs to have a debate about capital controls, about foreign ownership of assets, about measures to control our currency and about being openly nationalistic rather than internationalistic about our economic policy.
 
 
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