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University of Chicago

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Library by Topic - Industry and regulatory policy

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Speeches and presentations

Working Together: Doing it Better

21 September 2006, Roger Kerr

This speech was given to the Trans Tasman Business Leaders Conference in Queenstown today.


Is Super Really So Hard?

6 April 2004, Roger Kerr

Speech to the 5th Annual Superfunds Summit 2004 in Wellington. Many of our politicians act as though retirement income policy is the 'third rail' of New Zealand politics: touch it and you're dead. Arguably, however, the trauma is self-induced.


Economics and Politics of Transition

12 January 2004, Roger Kerr

Speech by Roger Kerr to Mont Pelerin Society Special Regional Meeting, Sri Lanka


The Resource Management Amendment Act: Is it Too Little,Too Late?

18 September 2003, Rob Fisher

Reflections on Corporate Governance

24 June 2003, Rob McLeod

The Business Roundtable welcomed the establishment of the New Zealand Shareholders Association


Reform of Securities Trading Law - Evolution & Risks

28 March 2003, Bryce Wilkinson

This paper considers the risks and possible evolution of the approach to regulation that is reflected in the three volume discussion documents Reform of Securities Trading Law that were published by the Ministry of Economic Development (MED) in May 2002. These volumes focus respectively on a review of insider trading, proposed new market manipulation law, and the issues of penalties, remedies and the applications of securities trading law.


Trust, Markets and Governance

14 September 2002, Roger Kerr

A Vision For Agriculture

19 July 2001, Roger Kerr

The Quagmire of Regulation

12 October 2000, Roger Kerr

New Zealand at The Edge

6 October 2000, Roger Kerr

Energy Efficiency

28 August 2000, Roger Kerr

Free Trade or Fair Trade: What's Best For New Zealand?

8 August 2000, Roger Kerr

Cooperatives Versus Corporates

9 November 1999, Roger Kerr

Hands-On, Hands-Off or Hand-Outs?

15 September 1999, Roger Kerr

The Retail Sector and the Economy

31 May 1999, Roger Kerr

Is the Law a Profession or a Business?

12 March 1999, Roger Kerr

Agricultural Marketing and Structures: Muldoonism Lives On

17 February 1999, Roger Kerr

Why Not Normalise Racing?

4 August 1998, Roger Kerr

Paying for Parochialism: The Costs of Stalled Port Reform

30 July 1998, Roger Kerr

Commercial and Policy Developments in Australian Agriculture

24 July 1998, David Trebeck

Moving Beyond Producer Boards

4 July 1998, Roger Kerr

Good Governance: A Case for Paternalism or Personal Responsibility?

17 February 1998, Peter Shirtcliffe

Compulsory Disclosure: Problems and Alternatives

13 October 1997, Roger Kerr

Whither Cooperative Dairy Companies?

11 September 1997, Roger Kerr

The Meat Industry and The Economy: Progress or Paralysis Under MMP?

23 September 1996, Bob Matthew

The New Zealand Transport Industry

29 August 1996, Roger Kerr

How is Australian Agriculture Faring?

8 June 1996, David Trebeck

The Producer Board Debate: A Stocktake

17 May 1996, David Trebeck

Farming today, is it viable?

17 May 1996, Roger Kerr

Agriculture's Albatross: Producer Boards in the 1990s

5 February 1996, Roger Kerr

Profitable Lychees - A Sound Reason for Increasing Milk Production?

26 August 1993, Denis Hussey

Rural Sector Policies for the Year 2000

28 May 1993, Roger Kerr

The ACIL Report Six Months On

10 May 1993, Roger Kerr

Business Tax, Business Law and Business Performance

30 March 1993, Douglas Myers

Ensuring Maximum Dairy Profitability - Who Decides and How?

22 March 1993, Dennis Hussey

Dairy Industry Deregulation - Its Time Has Come

18 February 1993, Dennis Hussey

By Council or by Competition? Time for a Stand

21 September 1992, Alan Gibbs

The Regulation of Agricultural Marketing: Major Implications for Producers

16 June 1992, Denis Hussey

Protection or Competition in Agricultural Marketing?

3 December 1991, Roger Kerr

Outlook for the Corporate Environment: A Business Perspective

29 November 1991, Roger Kerr

User Charges: Some Aspects of their Allocative Role

30 September 1991, Roger Kerr

Policy for Improved Meat Industry Performance

23 September 1991, Denis Hussey

Marketing New Zealand's Dairy Output: What Changes Are Needed and Why?

1 July 1991, Roger Kerr

Trans-Tasman Shipping: An Australian Perspective

28 June 1991, David Trebeck

Agricultural Marketing: Why Restrict Choice?

12 June 1991, Alan Gibbs

The Politics of Agribusiness: Marketing Structures and Systems in Australasia

2 June 1991, Denis Hussey

Deregulation and Consumer Policy

15 March 1991, Roger Kerr

Does Tariff Protection Cost Jobs?

25 June 1990, Alan Gibbs

Books and reports

Private and Political Markets Both Fail: A Cautionary Tale About Government Intervention

17 December 2004, David Friedman

One problem in any technical field is that some technical terms sound like ordinary language, and people outside the field, familiar with their ordinary meaning, mistakenly assume they understand them. Consider all the people who think they really understand the theory of relativity - except for the details. "Everything is relative. That makes sense." The term 'market failure' raises the same problem because it sounds as though it means the failure of markets. Market failure is a real phenomenon, a real problem in the organisation of human societies, but it has nothing in particular to do with markets - or at least, it has no more to do with markets than it has to do with governments, battles, families and much else.

My purpose is to explain what market failure means, why its existence is commonly employed as an argument for government regulation of markets, and finally why, while it is an argument against free markets, it is a stronger argument against the alternatives. As we will see, the problem described by 'market failure' occurs both in private markets and in the political and regulatory systems that are the usual alternatives to the private market, but is very much more common in the latter.


NZ $12.50
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The Case for a Flat Tax

17 December 2004, Richard A Epstein

Originally, I intended to take a non-economic approach to this topic and examine how a concept of fairness would lead one to support a flat or proportional tax. I have deviated from that path and instead will start the analysis with an explanation of how a flat tax derives from a constitutional norm. The non-economic issues, however, never recede entirely from view, for there turns out to be a latent connection between ideas of economic efficiency and certain bedrock instincts that lie beneath that elusive notion of 'fairness'. However, here there is a paradox, because in dealing with fairness our instincts often provide us with a tremendously reliable mechanism to govern human affairs, precisely because they depend on snap judgments that have proved themselves reliable over time. When people try to rethink their instincts case by case, they are apt to stress the refinements and ignore the basics, and come up with conclusions that are wrong. There is little doubt that in dealing with one-on-one personal interactions first impressions really do matter. It is more difficult to show that these impressions work as well for large-scale social issues like taxation. But it is equally wrong to disregard them entirely. As a working approximation, policymakers will often do better if they follow a hard, intuitive rule, unless there is powerful evidence to take a different path. Often, many arguments about fairness amount to intuitive judgments that are dressed up in some grander moral form.


NZ $12.50
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Constraining Government Regulation

1 November 2001, Bryce Wilkinson

NZ $34.95
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Towards a Regulatory Constitution

1 April 2000, Richard A Epstein

NZ $12.50
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Regulation of the Legal Profession

1 March 2000, Ian McEwin

There is no summary available for this publication.


NZ $22.50
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Controlling Company Takeovers: By Regulation or By Contract?

1 November 1999, Richard A Epstein

NZ $12.50
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Reform of the Domestic Market for Dairy Produce: An Analysis of Progress and Issues

1 October 1998, Frank Scrimgeour

There is no summary available for this publication.


NZ $22.50
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Farmer Control of Processing and Marketing: Does it serve the interests of farmers?

1 August 1998, Winton Bates

There is no summary available for this publication.


NZ $22.50
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Regulation of the Food and Beverage Industry

1 July 1998, Prepared by Credit Suisse First Boston for the New Zealand Business Roundtable and the New Zealand Food and Beverage Exporters' Council

There is no summary available for this publication.


NZ $22.50
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The Dairy Board's Export Monopoly

1 September 1997, Winton Bates

NZ $22.50
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Government-guaranteed Financial Institutions: Policy Issues Relating to the National Provident Fund, Government Superannuation F

1 June 1997, New Zealand Business Roundtable

There is no summary available for this publication.


NZ $22.50
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Voluntary vs Mandated Disclosure: An Evaluation of the Basis for the Recommendations of the Working Group on Improved Investment

1 May 1997, George J Benston

The Working Group's recommendations, as presented in Recommendations for Improved Investment Product and Investment Advisor Disclosure, Final Report (21 December 1995, corrected 25 January 1996) are delineated in Chapter One of this report. Following each of the important points on which the recommendations are based, I give brief assessments. Overall, I find that the Working Group has overlooked the role of and benefits from voluntary disclosure. The bases for this conclusion and for the assessments given in Chapter One are presented in Chapter Two under the title, 'The Philosophy of Voluntary Disclosure'. Two questions are asked and answered: 'What information do investors need to make informed investment choices?' and 'What reason is there to believe that product providers and advisers would not voluntarily provide investors with this information?' Chapter Three considers 'The Costs to Investors of Mandatory Disclosure'.


NZ $22.50
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The Concealment, Use and Disclosure of Information

1 August 1996, Richard A Epstein

From ancient times to the present, information has made the world go round, from the most routine of transactions to the most complex. One critical issue therefore is what legal rules, if any, should govern the creation, dissemination and use of information.


NZ $12.50
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The Economy-Wide Effects of Bundling Milk and Non-Milk Returns

1 July 1996, Tasman Asia Pacific and ACIL

There is no summary available for this publication.


NZ $22.50
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Restoring Kiwifruit Profitability: Choice, Ideas, Innovation and Growth

1 September 1994, ACIL Economics and Policy Pty Ltd

There is no summary available for this publication.


NZ $33.75
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The Resource Management Act 1991: The Transition and Business

1 August 1994, Alan Dormer

There is no summary available for this publication.


NZ $33.75
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New Zealand Dairy Industry Off-Farm Assets

1 April 1994, Ireland Wallace and Associates

There is no summary available for this publication.


NZ $12.50
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Agricultural Marketing Regulation: The ACIL Report Twelve Months On

1 November 1993, Denis Hussey

There is no summary available for this publication.


NZ $12.50
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Agricultural Marketing Regulation: Reality versus Doctrine

1 September 1992, ACIL

There is no summary available for this publication.


NZ $33.75
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Reforming Trans-Tasman Shipping

1 June 1992, Swan Consultants

There is no summary available for this publication.


NZ $22.50
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Regulation and Pricing of Pharmaceuticals in New Zealand

1 May 1992, Patricia Danzon

There is no summary available for this publication.


NZ $12.50
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Port Reform in New Zealand: A Mid Term Update

1 August 1990, David Trebeck

There is no summary available for this publication.


NZ $22.50
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Liberalisation of Coastal Shipping

1 July 1990, New Zealand Business Roundtable

There is no summary available for this publication.


NZ $11.25
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Mergers and Takeovers in New Zealand - Mandatory Clearance Revisited

1 February 1990, New Zealand Business Roundtable

There is no summary available for this publication.


NZ $22.50
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Ports and Shipping Reform in New Zealand - Current Developments and Future Requirements

1 September 1989, New Zealand Business Roundtable and Federated Farmers

There is no summary available for this publication.


NZ $33.75
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The Antitrust Debate in New Zealand

1 August 1989, William Brock

There is no summary available for this publication.


NZ $7.00
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Disaster Insurance Policy

1 July 1989, New Zealand Business Roundtable

There is no summary available for this publication.


NZ $22.50
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Antitrust in New Zealand - The Case for Reform

1 September 1988, Susan Begg

This report looks at the theoretical framework of antitrust law and the situation in foreign jurisdictions, it analyses the status quo in New Zealand and makes suggestions for reform of the Commerce Act.


NZ $56.25
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Comment on the Review of the Town and Country Planning Act 1977 by A Hearn QC

1 December 1987, New Zealand Business Roundtable

There is no summary available for this publication.


NZ $5.60
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Corporatisation of Harbour Boards

1 August 1987, New Zealand Business Roundtable

There is no summary available for this publication.


NZ $11.25
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The New Zealand Ports Industry

1 August 1986, New Zealand Business Roundtable

There is no summary available for this publication.


NZ $11.25
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Submissions

Submission on the Financial Markets (Regulators and KiwiSaver) Bill

16 November 2010, New Zealand Business Roundtable

The Financial Markets Authority (FMA) has the potential to play a positive role in relation to New Zealand’s financial markets provided that its approach to the exercise of its significant regulatory powers is measured and responsible.


Submission on the Holidays Amendment Bill

22 September 2010, New Zealand Business Roundtable

Holidays legislation remains complex and difficult to administer. It is far less problematical in many countries, including Australia. Moreover, the costs associated with the additional week’s leave have slowed the rate of real wage growth for affected workers.


Submission on the Employment Relations Amendment Bill (No 2)

22 September 2010, New Zealand Business Roundtable

The Business Roundtable believes that New Zealand employment law has become unnecessarily complex and costly for both employers and employees. Contrary to common misconceptions, there is no inherent and systematic imbalance in bargaining power in the labour market. As a consequence we believe employment law should move in the direction of standard contract law.


Submission on Questions Arising from the Regulatory Responsibility Bill Prepared by the Regulatory Responsibility Taskforce

27 August 2010, New Zealand Business Roundtable

The Business Roundtable has supported proposals for a Regulatory Responsibility Act from the time of its 2001 report Constraining Government Regulation. We made submissions to the select committee that considered the earlier Members Bill. We agree with the Minister that the Taskforce has produced an excellent report.


Submission on Consumer Law Reform Discussion Paper

30 July 2010, New Zealand Business Roundtable

This submission focuses on making three high-level comments on the discussion paper: problem definition, the need for the law to protect reputable suppliers and customers alike, and the case for general and enduring statute law rather than for detailed law that can quickly become obsolescent.


Submission on the Commerce Commission's Draft Reconsideration Report on Mobile Termination Services

19 May 2010, New Zealand Business Roundtable

We made our first submission on these issues in November 2004 and our last submission was in July 2009. Throughout we have been greatly concerned about the implications for investment in infrastructure of the never-ending litigation and re-litigation of pricing issues. It is clear that currently incumbents can have no certainty as to future pricing plans even if they have reached firm deeds of agreement with the Crown.


Submission on the Financial Service Providers (Pre-Implementation Adjustments) Bill

30 March 2010, New Zealand Business Roundtable

We welcome the government’s efforts to streamline the implementation of the previous government’s Financial Advisers Act 2008 and the Financial Service Providers (Registration and Dispute Resolution) Act 2008, and in the process to reduce compliance costs. In our view the Regulatory Impact Statement associated with the FAA 2008 was inadequate and did not provide a rigorous assessment of its costs and benefits.


Submission to the Ministry of Economic Development on the Discussion Document 'Cartel Criminalisation'

30 March 2010, New Zealand Business Roundtable

We agree with the view of the 2025 Taskforce that “In economies with open markets, competition policy is likely to be, at most, a minor contributor to economic performance.” We note, for example, that two other small and open economies, Hong Kong and Singapore, attained levels of per capita income much higher than New Zealand’s before they developed comparable antitrust laws.


Pan-Industry Letter to Prime Minister on the Emissions Trading Scheme

5 March 2010,

Recent events show that the international climate change context is less certain than previously anticipated. We think that the current emissions trading scheme is too rigid and may in fact frustrate the delivery of the outcomes sought from it. Therefore, we seek an assurance from you that in light of recent events the Government is taking stock of whether the current climate change policy settings which focus primarily on an emissions trading scheme remain appropriate for New Zealand.


TSO Review (2009) Discussion Document

29 October 2009, New Zealand Business Roundtable

In our view the general context in which policy related to the Telecommunications Services Obligation (TSO) should be set is the government’s goal of closing the per capita income gap with Australia by 2025. Achieving that goal will require a sustained commitment to the adoption of institutions and policies of the highest order. Policy proposals that do not meet that standard should not be adopted.


Submission on the Commerce Commission's Draft Report on Mobile Termination Services

1 July 2009, New Zealand Business Roundtable

This submission on the Commerce Commission's 30 June 2009 DraftReport recommending the designation of mobile termination accessservices (incorporating mobile-to-mobile voice termination, fixed-tomobilevoice termination and short-message-service termination) ismade by the New Zealand Business Roundtable, an organisationcomprising primarily chief executives of major New Zealand businessfirms. The purpose of the organisation is to contribute to thedevelopment of sound public policies that reflect overall New Zealandinterests.


NZIER/Infometrics Report on Climate Change Policy

1 July 2009, New Zealand Business Roundtable

We regard the NZIER and Infometrics as reputable consultancy organisations. Having said that, we cannot emphasise too strongly that the NZIER/Infometrics report isnot a Regulatory Impact Statement.


Public Consultation on the TCF Telecommunications Service Obligation (TSO) Report

22 April 2008, New Zealand Business Roundtable

The Business Roundtable has had reservations about the TSO from the outset and agrees it is now outdated. It fails most, if not all, tests of good public policy. It is hugely distortionary and gives rise to unnecessary and wasteful disputation.


Joint Complaint to the Regulation Review Committee of Parliament

17 March 2008, Joint Business Roundtable and Wellington Regional Chamber of Commerce

Complaint to the Regulation Review Committee concerning the Order in Council of 3 March 2008 amending the Overseas InvestmentRegulations 2005.


Submission on the Regulatory Responsibility Bill

1 August 2007, New Zealand Business Roundtable

Shared Fisheries Discussion Document

28 February 2007, New Zealand Business Roundtable

Submission on the Telecommunications Amendment Bill

15 September 2006, New Zealand Business Roundtable

Response to the Commerce Commission's Schedule 3 Investigation of Mobile Termination Reconsideration Final Report

18 May 2006, New Zealand Business Roundtable

Proposed Declaration of Unlisted under the Securities Markets Act

16 March 2005, New Zealand Business Roundtable

Submission on the Securities Legislation Bill

11 March 2005, New Zealand Business Roundtable

Comment on the Reserve Bank's Proposed Outsourcing Policy for Systemically Important Banks

28 February 2005, New Zealand Business Roundtable

We have several concerns about the propositions contained in paragraphs 20 and 21. We raise them in the context of section 68 of the Act.


Submission on the Domestic Food Review NZFSA Paper Principles and Possible Methods for a Cost Recovery Framework

24 February 2005, New Zealand Business Roundtable

Comments on the Oil Security report prepared for the Ministry of Economic Development by Covec and Hale & Twomey Limited

2 February 2005, New Zealand Business Roundtable

Submission on the Commerce Commission's Draft Report on Telecommunications Act 2001 Schedule 3 Investigation into Regulation of

1 November 2004, New Zealand Business Roundtable

Submission on the Employment Relations Law Reform Bill

20 May 2004, NZBR

We have several specific concerns with the bill that are worth highlighting (see section 4 of the NZBR submission).


Submission on Taxation of Non-controlled Offshore Investment in Equity

2 March 2004, NZBR

The New Zealand Business Roundtable Submission on the officials' issues paper, 'Taxation of Non-controlled Offshore Investment in Equity'.


Submission on Reducing Tax Barriers to International Recruitment

23 December 2003, New Zealand Business Roundtable

The New Zealand Business Roundtable supports government moves to reduce tax barriers to international recruitment, but would like to see more attention paid to keeping wealth-producing New Z


Submission on the Lawyers and Conveyancers Bill

6 November 2003, New Zealand Business Roundtable

The NZBR and its members have a major stake in the performance of the legal profession and the legal system. Large businesses are major users of legal services, both for advice and litigation.


Submission on the Resource Management (Energy and Climate Change) Amendment Bill

1 November 2003, New Zealand Business Roundtable

The measures in the Bill are inconsistent with the government's prime economic objective - securing faster economic growth.


Submission on the Commerce Commission's Draft Determination for TSO Instrument for Local Residential Service for Period Between

4 August 2003, New Zealand Business Roundtable

The comparative analysis in appendix 5 of the draft determination indicates that the assessment of the annualised net cost of the TSO varies by roughly $200 million.


Submission on the Holidays Bill and the Holidays (Four Weeks Annual Leave) Amendment Bill

10 July 2003, New Zealand Business Roundtable

Submission on the Inquiry into the New Zealand Electricity Industry

1 July 2003, New Zealand Business Roundtable

The present electricity crisis demonstrates that too many of the government's policies are incompatible with its stated priority of economic growth.


Submission to the New Zealand Stock Exchange on Proposed Listing Rules on Corporate Governance

11 June 2003, New Zealand Business Roundtable

A core issue in relation to all the proposals is whether or to what extent the NZX and the government (directly or via the Securities Commission) should prescribe corporate governance rules or whether they should be the business of shareholders who invest in listed companies.


Submission On The Telecommunications Act 2001: Section 64 Reviews Into Unbundling The Local Loop Network And The Fixed Public Da

15 May 2003, New Zealand Business Roundtable

The submission makes a number of suggestions for improvements to technical aspects of the approach set out in the Issues Paper. These relate to the definitions of "long term", "essentiality", the counterfactual, externalities, and the categories of costs and benefits


Submission On The Status Of Redundancy Payments Bill

8 May 2003, New Zealand Business Roundtable

There are no obvious public policy grounds for the measures proposed in the bill. In terms of economic efficiency objectives - achieving the best use of economic resources and hence maximising community incomes - there appear to be no valid grounds for additional government intervention in this area


Submission on the Land Transport Management Bill

14 February 2003, New Zealand Business Roundtable

The transport system is a core part of New Zealand's infrastructure. An important role for the government in promoting economic growth is to ensure the transport system is efficient and responsive to users' needs. Major improvements in transport resulted from reforms beginning in the 1970s. The main outstanding problem area has been roading infrastructure. Traffic congestion in Auckland and inadequate infrastructure in some regions are imposing large economic costs.


Submission to the New Zealand Stock Exchange On Proposed Listing Rules on Corporate Governance Bill

1 September 2002, New Zealand Business Roundtable

Submission to the Ministry of Economic Development on the Reform of Securities Trading Law

1 August 2002, New Zealand Business Roundtable

Submission on Review of the Public Works Act: Issues and Options

1 May 2001, New Zealand Business Roundtable

Review of the Regulatory Framework for Pipfruit Exporting

1 January 2001, New Zealand Business

Submission on the Insider Trading Discussion Document

1 October 2000, New Zealand Business Roundtable

Submission to the Commerce Select Committee on the Supplementary Order Paper Amending the Commerce Amendment Bill

1 September 2000, New Zealand Business Roundtable

Submission to the Takeovers Panel on the June 2000 Draft Takeovers Code

1 July 2000, New Zealand Business Roundtable

Comment on Labour's Discussion Paper, Improving Confidence in the Sharemarket: Towards a Better Compliance Regime

1 July 1999, New Zealand Business Roundtable

Submission to the Commerce Committee on the Commerce Amendment Bill

1 July 1999, New Zealand Business Roundtable

The Draft Wellington Regional Council Land Transport Strategy 1999-2004

1 June 1999, New Zealand Business Roundtable

Review of the Competition Thresholds in the Commerce Act 1986 and Related Issues

1 May 1999, New Zealand Business Roundtable

Energy Efficiency Bill

1 November 1998, New Zealand Business Roundtable

Penalties, Remedies and Court Processes Under The Commerce Act 1986

1 March 1998, New Zealand Business Roundtable

Submission on the Review of the Securities Commission

1 February 1998, New Zealand Business Roundtable

Submission On The Review Of The Holidays Act 1981

1 December 1997, New Zealand Business Roundtable

Producer Board Acts Reform Bill

1 April 1997, New Zealand Business Roundtable

Submission to the Government Administration Committee on The Protected Disclosures Bill

1 April 1997, New Zealand Business Roundtable

Liquor Review 1996

31 October 1996, New Zealand Business Roundtable

Submission to the Minister of Justice on the Proposed Takeovers Code

1 July 1995, New Zealand Business Roundtable

Submission on Kiwifruit Industry Review

1 June 1995, New Zealand Business Roundtable

Minimum Energy Performance Standards

1 March 1995, New Zealand Business Roundtable

Submission on the paper: Proposed Revision to Banking Supervision Arrangements, Reserve Bank of New Zealand

1 November 1993, New Zealand Business Roundtable

Submissions to the Takeovers Panel Advisory Committee on the Draft Takeovers Code

1 June 1993, New Zealand Business Roundtable

Energy Sector Reform Bill

1 February 1992, New Zealand Business Roundtable

Financial Reporting Bill

1 February 1992, New Zealand Business Roundtable

Takeovers Bill

1 February 1992, New Zealand Business Roundtable

Submission on the Government's Role and Responsibilities In Disaster Insurance

1 August 1991, New Zealand Business Roundtable

Submission to the Justice and Law Reform Select Committee of the House of Representatives on the Companies Bill

1 February 1991, New Zealand Business Roundtable

Submission to the Select Committee of the House of Representatives on the Resource Management Bill

1 March 1990, New Zealand Business Roundtable

Submission on the Commerce Law Reform Bill

1 February 1990, New Zealand Business Roundtable

Submission to the Commerce and Marketing Select Committee on the Disaster Insurance Bill

1 January 1990, New Zealand Business Roundtable

Submission to the Commerce and Marketing Select Committee on the Pharmacy Bill

1 January 1990, New Zealand Business Roundtable

Sharebroking and Equity Market Regulation - A Submission to the Ministerial Committee of Inquiry into the Sharemarket

1 December 1988, New Zealand Business Roundtable

Submission to the Law Commission on Company Law

1 March 1988, New Zealand Business Roundtable

Articles

Opposition to Regulatory Bill Utterly Predictable

19 August 2011, Roger Kerr

All seven members of the Regulatory Responsibility Taskforce that unanimously recommended the current bill operated in the private sector. Unsurprisingly, all government departments that reported to ministers on the bill opposed it. The natural tendency of bureaucracies is to extend their budgets and powers, and resist attempts to constrain them.


Property Rights, Regulatory Takings, and Compensation

8 July 2011, Roger Kerr

New Zealand is not a banana republic but it has taken too many steps in that direction. An ongoing pattern of takings without compensation will increase our sovereign risk premium and threaten our future prosperity.


New Bill Best Hope for Regulatory Discipline

26 April 2011, Roger Kerr

Any doubts about the case for legislation to bring greater discipline to regulatory policy making in New Zealand should have been removed with the release of a recent Cabinet paper dealing with the Regulatory Standards Bill that is now before parliament.


Investors Should Remember Caveat Emptor

17 December 2010, Roger Kerr, National Business Review

This year has been a mixed bag as far as regulation of New Zealand’s capital markets is concerned. It began badly with the government scrambling to simplify its cumbersome and costly financial advisers legislation, which was a response to the finance company collapses.


More Urgency Needed on Regulatory Reform

25 October 2010, Roger Kerr, the Dominion Post

In its report last year, the 2025 Taskforce said that overseas research suggested that “as much as a third of the income gap to Australia could be closed if we were able to move New Zealand to world best practice across all the major areas of regulation”.


Economic Fallacies And Their Consequences

16 July 2010, Roger Kerr, Otago Daily Times

A few weeks ago I decided to look out for examples of economic fallacies that routinely appear in our media. It didn’t take long to make a list. Local government is always a happy hunting ground.


Why the ETS Should be Deferred

15 June 2010, Roger Kerr, Muriel Newman Weekly online

Calls are mounting for the next phase of the government’s emissions trading scheme, due to commence on 1 July 2010, to be deferred. There are strong arguments for a temporary suspension of the scheme. The world has changed since the ETS legislation was passed in November last year.


Alcohol Report a Public Policy Fiasco

7 May 2010, Roger Kerr, Otago Daily Times

As an example of poor quality public policy analysis, the Law Commission’s report on alcohol regulation will be a landmark for years to come. A 514-page doorstop, it ranks with the 1988 report of the Royal Commission on Social Policy which was dead on arrival.


Should Cartel Conduct be Criminalised?

22 April 2010, Roger Kerr, The Independent

Cartels (of the kind that exploit consumers) have a bad name, and rightly so. Cartel conduct is subject to heavy penalties under competition law (the Commerce Act). Cartels can take the form of price fixing, bid rigging, market sharing and agreements to restrict output.


Zespri Monopoly an Anachronistic Relic

25 January 2010, Roger Kerr

A recommendation of the 2025 Taskforce was that the monopoly of the kiwifruit exporter Zespri on exports to markets other than Australia should be removed. This should be one of the easier Taskforce recommendations for the government to accept.


Reducing Alcohol Harm: Nanny State or Individual Responsibility?

21 January 2010, Roger Kerr

Recently some interesting points have emerged in the alcohol debate. First, the 2025 Taskforce noted that among the good things of life that Australians enjoy with their higher incomes is alcohol. They consume about 10% more alcohol a year than we do.


Capital Market Development Taskforce Does a Good Job

4 January 2010, Roger Kerr

The recent report of the Capital Market Development Taskforce, chaired by respected investment banker Rob Cameron, contains excellent analysis of the state of our capital markets – the sources of business funding – and makes many sound recommendations.


A Regulatory Responsibility Act: An Idea Whose Time has Come?

27 November 2009, Roger Ker

Good regulation is necessary to promote social, economic, environmental and other goals. However, countries around the world have struggled with the problem of poor quality regulation which is economically costly and unnecessarily curtails citizens’ freedoms and choices.


New Hope for Better and Less Regulation

24 September 2009, Roger Kerr

A potentially important announcement by the government last month has not been widely reported. It took the form of a Government Statement on Regulation, which was released with an accompanying Cabinet paper. It marks a major departure from the practice of the last government, which unleashed a barrage of poor quality regulation on the business sector and the wider community. As the Statement notes, bad regulation hinders individual freedom, innovation and productivity. The re-regulation of the economy in recent years was a major factor behind the slump in productivity growth.


Use of Alcohol: Whatever Happened to Individual Responsibility?

14 August 2009, Roger Kerr

The Law Commission is not trying to bring about some return to 'wowserism', it said in its recent report on alcohol. As an Australian commentator noted, it is a tribute to the power of the word that people are desperate to assert that they are not wowsers. He added: "For a country that is apparently entirely absent of wowsers, wesure spend a lot of time discussing how best to stop each other from drinking, gambling or browsing the wrong websites." Taxpayer-funded public health lobbies clamour for more regulation of how we live our lives.


Public Policy Requires Proper Analysis

3 July 2009, Roger Kerr

Plastic Bags: Do We Need More Government Intervention?

5 June 2009, Roger Kerr

Earlier this year the minister for the environment Dr Nick Smith floated the idea of a levy on lightweight plastic bags under the Waste Minimisation Act. Prime Minister John Key quickly ruled it out. However, we are likely to hear similar proposals to reduce the use of plastic bags and other "extended producer responsibility" measures in the future.How should we evaluate such proposals? They offer a case study in how to conduct sound, evidence-based, public policy analysis.


New Zealand's Shrinking Sharemarket

22 May 2009, Roger Kerr

Remember the claims about New Zealand's 'wild west' sharemarket when the Labour government came to office in 1999?


Raising the Performance of State-Owned Enterprises

8 May 2009, Roger Kerr

The government is concerned about the financial performance of state-owned enterprises. Many of them appear to have been achieving low returns on the large amounts of capital tied up in them. The same is true of some local government assets, such as shareholdings in port companies. Poor financial performance is a sign that scarce capital is being used inefficiently or being allocated to the wrong uses.


Competition Law Zealotry Damaging Economy

13 March 2009, Roger Kerr

In the markets of the economy open to international competition, and in most domestic industries with relatively low barriers to entry like finance, retailing, construction and property, it is hard to see significant monopoly problems. Barriers to entry are what matter: a small economy will not have large numbers of firms in many industries.


Back to Basics on Property Rights

10 October 2008, Roger Kerr

New Zealand has a poor record in this area. The country is still divided because of Maori land confiscations almost 150 years ago. But such actions continue today, with the foreshore and seabed issue, the forced unbundling of Telecom and consequent massive loss of shareholder value, and the blocking of the sale of shares in Auckland International Airport Limited (AIAL).


Financial Turmoil: Market Failure or Government Failure?

29 September 2008, Roger Kerr

As the Wall Street Journal observed, the great irony is that the banks that made some of the worst mortgage investments were the most highly regulated. Bank regulators cannot possibly spot all weaknesses. More emphasis must go on caveat emptor - investors and depositors beware.


We Need a Clearer Debate About Infrastructure

8 September 2008, Roger Kerr

In New Zealand, electricity is a government-dominated industry and actual or threatened winter shortages have become routine. The problem has been compounded by regulatory interventions by both National and Labour-led governments.


Let Them Eat Fruit Kebabs

18 July 2008, Roger Kerr

Rather than assuming people are generally fit to make their own decisions and allowing them to bear or enjoy the consequences, good and bad, the paternalist state focuses on diminishing their access or temptation, treating them as weak, impressionable victims, prey to advertisers and retailers, who need to be protected from their own foolishness.


Good Progress on Regulatory Responsibility Legislation

6 June 2008, Roger Kerr

Last week brought encouraging news for those concerned about over-regulation in this country. Parliament's Commerce Committee recommended that a high-level expert task force should be established to carry forward work on the concept of a Regulatory Responsibility Act.


Reigning in the Regulatory Madness

12 July 2007, Roger Kerr

More than a decade ago, a Wellington hairdresser was taken to task by the Human Rights Commission for offering haircuts to male pensioners at a cheaper rate than younger, more hirsute customers. It's easy to find examples of the battles of individuals against the lunacy that regulations inspire in bureacracies


Roading: Still Many Roadblocks

7 July 2006, Roger Kerr

Last week the government and Transit New Zealand announced the 10 year state highway plan to 2015/16.


The Itch to Regulate Broadband

20 February 2006, Rob McLeod

Last week saw two developments in the broadband debate.


Sustainability

16 August 2005, Roger Kerr

This article was first published in the Institute of Chartered Accountants Journal, (Volume 84 No 7 August 2005)


Improving Regulatory Disciplines

16 August 2005, Roger Kerr

This article was first published in the Institute of Chartered Accountants Journal, (Volume 84 No 7 August 2005)


Is the Kyoto Protocol Now a Dead Letter?

29 July 2005, New Zealand Business Roundtable

What look like significant recent developments in the fate of the Kyoto Protocol aimed at reducing greenhouse gas emissions have gone largely unreported in New Zealand. This article was first published in the Otago Daily Times (29 July 2005)


The Energy Hobgoblins

1 July 2005, Roger Kerr

This article first appeared in the Otago Daily Times (1 July 2005)


Regulation of Unlisted is Unwarranted

4 April 2005, Roger Kerr

In Economics Everything Takes Time

28 January 2005, Roger Kerr

New Zealand's slow slide to mediocrity

9 July 2003, Norman LaRocque

Productivity rises fatten pay packets

4 July 2003, Roger Kerr

Do we want bureaucrats or entrepreneurs running business?

16 June 2003, Roger Kerr

Kyoto ratification - another Kiwi own goal

10 December 2002, Dr Bryce Wilkinson

Perspectives

Issue 468 Estonia: The Little Country That Could

29 June 2011, Richard W. Rahn

Most Eastern European countries that were controlled by the communists have had successful political/economic transitions and are far more prosperous than they were two decades ago, but none has come as far as Estonia.


Issue 464 Rules for Fools

15 June 2011, Schumpeter

In 1941 Franklin Roosevelt added two new items to America’s ancestral freedoms of speech and worship: freedom from fear and freedom from want. Today’s politicians offer a far more generous menu: freedom from unlicensed hair-cutters, freedom from cowboy flower-arrangers and, most important of all, freedom from rogue interior designers.


Issue 417 Four Pillars Will Become Shaky House of Cards

14 December 2010, Henry Ergas

ANYONE who believes that allowing gravel to call themselves boulders will convert a rock garden into Stonehenge urgently needs a dosage check. And that Wayne Swan and Joe Hockey seem to be sharing the meds hardly adds to one's confidence in the proposed banking reforms. But even putting the pebbles-into-pillars fantasies aside, the real trouble with the reforms is that they could inflict serious harm, merely so as to show that the government is "doing something".


Issue 407 Saving energy will tie us in green tape

27 October 2010, Henry Ergas

SCHEMES to cut power consumption should not cost more than the benefits they bring. IN public policy, bad ideas never die: they go to second editions. The recently released report of the Prime Minister's Task Group on Energy Efficiency is a striking case in point. Credit where credit is due. The report is well-written, logically presented and thoroughly referenced, virtues no longer common in government documents. But its mistaken premises lead to recommendations that would reduce productivity, cut incomes and tie us up in unending green tape.


Issue 398 Cuba to Lay Off 500,000 Workers

16 September 2010, The Associated Press

Cuba announced Monday it will cast off at least half a million state employees by mid-2011 and reduce restrictions on private enterprise to help them find new jobs — the most dramatic step yet in President Raul Castro's push to radically remake employment on the communist-run island.


Issue 397 Scrap ‘Cash for Clunkers’ Scheme, Not Older Cars

14 September 2010, Oliver Marc Hartwich

Germany is not only the country in which cars were invented. It's also the country that invented the policy to destroy them while they are still fully operational. And it is also the best example to study why "cash for clunkers" schemes are a piece of economic lunacy.


Issue 393 Yummy, Cloned Beef and Scare-Story Sauce

23 August 2010, Dominic Lawson

Anyone for cloned beef? Rib-eye would be my preferred cut; but that’s because it’s my usual choice at the local butcher’s. Why should a cloned version taste any less delicious or be any less nutritious? In reality, that is not going to be a choice available to the general public. The Food Standards Agency won’t authorise it.


Issue 391 Catastrophism Collapses

13 August 2010, Lawrence Solomon

One year ago, the G8 talked tough about cutting global temperatures by two degrees. In Toronto, they neutered that tough talk, replacing it with a nebulous commitment to do their best on climate change--and not to try to outdo each other. The global-warming commitments of the G20 -- which now carries more clout than the G8--went from nebulous to non-existent: The G20's draft promise going into the meetings of investing in green technologies faded into a mere commitment to "a green economy and to sustainable global growth."


Issue 384 We’ll Pay Dearly for this NBN Folly

21 July 2010, Henry Ergas

EIGHTEEN months ago, Telstra proposed risking $10 billion of its shareholders' money building a high-speed broadband network. After that bid fell over, the government, dizzy with its success in the polls, decided to build a fibre network of its own. Why? Because, Kevin Rudd said at the time, the alternative would have been to pay Telstra "billions of dollars in compensation".


Issue 382 The Gulf Spill, the Financial Crisis and Government Failure

13 July 2010, Gerald P O'Driscoll

The Gulf oil spill and the global financial crisis both demonstrate the failings of big government. Partisan politics obscures the linkage, with the consequence that each political party repeats the mistakes of the other as its turn to govern arrives.


Issue 376 'Basically an Optimist' - Still

17 June 2010, Peter Robinson

"No, no. Not at all." So says Gary Becker when asked if the financial collapse, the worst recession in a quarter of a century, and the rise of an administration intent on expanding the federal government have prompted him to reconsider his commitment to free markets.


Issue 375 Growth Rates Expose Underperforming States

16 June 2010, Richard Blandy

THERE were great differences between the states and territories in the growth rates of their economies from 1990-2009. Their annual growth rates were (from fastest to slowest): Queensland (4.5 per cent); Western Australia (4.2 per cent); Northern Territory (3.6 per cent); ACT (3.2 per cent); Victoria (3.1 per cent ); Tasmania (2.6 per cent ); NSW (2.5 per cent) and South Australia (2.4 per cent). Can differences in economic structure - a big mining sector, for example - explain these differences? Or were these growth differences broadly spread across sectors? In short, did state governments' economic policies matter?


Issue 363 Life, Liberty and the Pursuit of Fatty Foods

27 April 2010, Art Carden

States and municipalities across the country--from New York City to the State of California--have banned partially hydrogenated cooking oils, also known as "trans fats," in restaurants under their jurisdiction. This much is apparent: Trans fats are bad for you. But government regulation is bad for you, too. Seemingly innocuous and well-meaning interventions can lead to less innocuous, less benign interventions later. Should we trust the state to regulate what we do, even when it is for our own good? Further, if we're going to regulate, why should we stop at trans fats?


Issue 362 An Economy of Liars

23 April 2010, Gerald P O'Driscoll JR

Free markets depend on truth telling. Prices must reflect the valuations of consumers; interest rates must be reliable guides to entrepreneurs allocating capital across time; and a firm's accounts must reflect the true value of the business. Rather than truth telling, we are becoming an economy of liars. The cause is straightforward: crony capitalism.


Issue 355 The Communitarian Curse

30 March 2010, Richard A Epstein

Many modern journalists and academics wrongly think that self-proclaimed moderates distill wisdom drawn from both sides. One vivid confirmation of that grievous error is found by looking at the dubious communitarian proposals by the British academic Phillip Blond, endorsed this past week by the columnist David Brooks of the New York Times.


Issue 343 Carry on with this Revolution, Julia

8 February 2010, Janet Albrechtsen

ACADEMICS, teachers' unions and their media lackeys live in a peculiar world. In this world, providing information about school performance is treated as a sin. While these groups were complaining about the Rudd government's My School website launched last week, parents hungry for information logged on to check the status of their child's school. So many logged on - nine million hits on the first day - that the system couldn't cope with the demand.


Issue 321 Conroy Wins, Taxpayers Lose

23 November 2009, Henry Ergas

Update CASINO capitalism is dead; long live casino socialism. Karl Marx thought that rational economic calculation - the idea that people would carefully assess the consequences of alternative choices - was one of capitalism's great contributions to human progress. Finance Minister Lindsay Tanner doesn't agree.


Issue 316 Why Oil Still has a Future

9 November 2009, Daniel Yergin

On Aug. 28, 1859, in the backwoods of northwest Pennsylvania, the first successful oil well went into production in the United States, ushering in an energy revolution that would make whale oil obsolete and eventually transform the industrial world. Yet 150 years later, even as demand increases in developing countries, oil's position in the global economy is being questioned and challenged as never before.


Issue 296 What Happened to the 'Depression'?

4 September 2009, Allan H. Meltzer

Day after day, economists, politicians and journalists repeat the trope that the current recession is the worst since the Great Depression. Repetition may reinforce belief, but the comparison is greatly overstated and highly misleading. Anyone who knows even a bit about the Great Depression knows that this is false.


Issue 290 Creeping protectionism ushering in new era of de-globalisation? We hope not

14 August 2009, Alec Gelder

The current period of market stability--and even growth, at least in many global equity indices--might be driven by the government-led response to the financial crisis. But the long-term impact of these policies--especially the "buy local" schemes and the many other newly imposed tariff and non-tariff barriers that will restrict trade--could spell disaster for the global economy and usher in a new and far less prosperous era of


Issue 288 Beware sorry fate of fads

5 August 2009, John Roskam

A decade ago we were told we should be more like the ʺCeltic Tigerʺ ‐ Ireland. In the heady days


Issue 287 When wind power blows, jobs will fall

31 July 2009, Dominic Lawson

Miliband's citing of Martin Luther King's "I have a dream" speech in support of his policy of subsidising the construction of many thousands of otherwise uneconomic wind turbines might appear grotesque, even comical; but not if you genuinely believe that Britain's switching from coal to wind power for its electricity generation will save the lives of countless Africans. I have no idea whether Miliband truly believes that it will - but if he does, he is deluded.


Issue 286 All Honor to Jefferson

29 July 2009, Jean Yarbrough

Instead of consolidating power or attempting to forge a general will, Jefferson went in the opposite direction, "dividing and sub-dividing" political power, while multiplying the number of interests and views that could be heard. He saw these units of local self-government as a way of bringing the large republic within the reach of citizens and so keeping alive the spirit of republicanism so vital to its preservation. And in this day and age, when the federal government seems to intrude on every aspect of our daily lives, and people feel powerless over matters of most interest to them, can we doubt that he was right? For this insight, too, let us echo Lincoln: "All honor to Jefferson"!


Issue 283 How Other Countries Judge Malpractice

17 July 2009, Richard A Epstein

In his recent speech to the American Medical Association, President Barack Obama held out the tantalizing possibility of reforming medical malpractice law as part of a comprehensive overhaul of the U.S. health-care system. As usual, he hedged his bets by declining to endorse the only medical malpractice reform with real bite -- a national cap on damages for pain and suffering, such as the ones enacted in more than 30 states.


Issue 282, The Justice Department's Antitrust Bomb

15 July 2009, George L Priest

As if commandeering the banking, finance and auto industries weren't enough, a couple of weeks ago the Obama administration decided to throw a bomb at modern antitrust law.

Assistant Attorney General for Antitrust Christine Varney claims that the Justice Department can aid economic recovery by prosecuting businesses that have been successful in gaining large market shares. In her announcement last month she argued that


Issue 282 The Justice Department's Antitrust Bomb

15 July 2009, George L Priest

As if commandeering the banking, finance and auto industries weren't enough, a couple of weeks ago the Obama administration decided to throw a bomb at modern antitrust law.


Issue 77, Competition rules deny Telstra its just reward

25 August 2006, Alan Moran

This article was first published in the Australian Financial Review, 4 August, 2006.


Competition, market diversity and regulation: issues for trans-Tasman sharemarkets

1 October 1996, Roger Kerr

Media Releases

Government’s Liquor Decisions Sensible

23 August 2010, New Zealand Business Roundtable

“The government deserves credit for its level-headed decisions on alcohol”, Roger Kerr, executive director of the New Zealand Business Roundtable, said today. “It has clearly listened to evidence and argument and avoided over-reaction.”


Telecommunications Decision Damaging to Investment and Growth

5 April 2006, New Zealand Business Roundtable

"The government's plans to further regulate telecommunications would violate private property rights and devalue the assets of tens of thousands of shareholders", Roger Kerr, executive director of the New Zealand Business Roundtable said today.


Bad Regulation Has Led to Unaffordable Housing

2 March 2006, New Zealand Business Roundtable

"Misconceived restrictions on the development of land have led to unaffordable housing", Roger Kerr, executive director of the New Zealand Business Roundtable, said today.


National's RMA Package a Step Forward

25 July 2005, New Zealand Business Roundtable

"The Resource Management Act has been bad for the economy and bad for the environment and National's proposed changes would improve it", Roger Kerr, executive director of the New Zealand Business Roundtable said today.


Minister's Continued Inaction Costly for Unlisted and for Capital Markets

4 July 2005, Roger Kerr and Phil O'Reilly

"The ongoing delay in resolving the regulatory uncertainty around the Unlisted securities trading platform is costing Unlisted, its customers, and New Zealand's capital markets dearly", Roger Kerr, executive director of the New Zealand Business Roundtable, and Phil O'Reilly, chief executive of Business NZ, said today.


Carbon Tax Anti-Growth

4 May 2005, New Zealand Business Roundtable

"The carbon tax announced by the government today is a further anti-growth measure", the executive director of the New Zealand Business Roundtable, Roger Kerr, said today.


Policy backgrounders

No.6, Can we learn from Ireland's experience? An Irishman's Perspective

7 June 2005, Colin Lynch

Ireland's economic transformation has been breathtaking.


E-Connects

The Decline and Fall of Cap-and-Trade

18 October 2010, Patrick J Michaels, Capital Research Center

For many months Al Gore and other supporters of cap-and-trade legislation have been predicting victory. It’s only a matter of time, they said, before the federal government regulates the U.S. economy to reduce carbon emissions and end global warming. Gore and company have been investing their money in “green economy” industries, anticipating a windfall of profits from the changes in energy policy that Congress will mandate. But something’s happened. Without any fanfare the effort has been stopped dead in its tracks. What happened—and why?


"Mostly Free" - The Startling Decline of America's Economic Freedom and What to Do About It

26 July 2010, Terry Miller and Kim R Holmes

In 2010, for the first time ever, the United States has fallen from the ranks of the economically “free” as measured by the Index of Economic Freedom, published annually by The Heritage Foundation and The Wall Street Journal.


The Failure of Anti-Money Laundering Laws

22 February 2010, Centre for Freedom and Prosperity Foundation

This Center for Freedom and Prosperity video examines anti-money laundering laws and finds that they are expensive and intrusive. These costs might be acceptable if the result was less crime, but this mini-documentary reveals that anti-money laundering policies are ineffective. As a former Reagan Administration official remarked, they undermine the fight against crime by misallocating law enforcement resources.


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