The NCEA Level 2 Economics curriculum used to assess employment, economic growth, price stability, trade and inequality. Now some bright spark has taken out employment and inequality, leaving only growth, trade and inflation. The social consequences / fallout of government policies on the big three are no longer assessed which means, realistically speaking, are no longer taught.

Far right indeed. Interestingly, the changes were introduced under a labour government.

I'm all for reasoned debate and all that but it has to be said that the economics profession has hardly covered itself in glory in this crisis.

In fact we've gotten ourselves into quite a bind in this banking crisis and all the economics profession has offered is practical advice from the sidelines. The neo-classical consensus and their economic models have been blown apart at the seams. Consistent economic models would be very valuable now to inform policy choices but frankly these models are bust and are basically useless at the moment.

No, I'm afraid of all the sciences the economics profession has the largest steps still to take. It can start off by dispensing with the rational man thesis and start merging human psychology into its models. When I see an economist producing a micro-economic theory on the consumption of women's hand bags then I'll know theory is improving, until then you've still got a lot of work to do.

Roger, Roger, Roger you slaveminded menace. When are you going to give up this crusade to have this country fully recaptured by you and your ilk.
If you or anyone else has not read the - REPORT OF THE ROYAL COMMISSION ON MONETARY, BANKING AND CREDIT SYSTEMS 1956 - and are facilitating debate or commentating on Fiscal and Monetary policy in this country, I believe you are doing this country a disservice.
I have for thirteen years studied 5000 years of currency and banking. This book/document is quite simply the most astounding detailed insight into the global tussle between the state and private internationalist bankers for the right to control the process of credit/money creation.
It is mind blowing in disclosing just how long ago credit creation was widely recognised and debated, and how the Gold Standard was known by those in the banking fraternity to be a thing of ceremonial token gesture from the very beginning, a continuation of the Goldsmiths banking scam.

As for your normal world experts in slaveminded dribble;

1. A ceiling on rents reduces the quantity and quality of housing available. (93%)

A- Of the majority owned private rental investment properties of NZ who have market rent conditions, take a look how many are slum like hovels are nearly falling down.
I am not for a minute saying the state owned housing is in sad way either. Debt free BASED public credit could be used to repair them, just as it was used to build them.

2. Tariffs and import quotas usually reduce general economic welfare. (93%)
A - Only if you have to borrow to implement import substitution and have unilateral international reserve currency.

With only low tariffs now and the free trade agreement with China, New Zealand is close to becoming a free trade economy like Hong Kong and Singapore.)
Nearly becoming what their anointed leader JK was groomed to implement, a financial services tax haven for the worlds elite, where the majority live in poverty, controlled by hard line law, while the locally recruited co-operative few accumulate fortunes in
payment for services rendered.

3. Flexible and floating exchange rates offer an effective monetary arrangement. (90%)

A- The so-called automatic stabilizers are absolute bunkum. Corresponding increases in your foreign held debt when your currency drops are never compensated by increased exports.

4. Fiscal policy (eg tax cut and/or government expenditure increase) has a significant stimulative impact on a less than fully employed economy. (90%)
A - Because it sees more money enter the banking system, thus the money supply is increased by the credit creation expansion mechanisms. Its false stimulus indebting future generations who have to repay the credit two or three times over with compounding interest.

5. The United States should not restrict employers form outsourcing work to foreign countries. (90%).

A- To condone slavery, is to invite it!

6. The United States should eliminate agricultural subsidies. (85%)
A- Only if the international monetary system is reformed.

7. Local and state governments should eliminate subsidies to professional sports franchises. (85%)
A- Only if the credit creation process is not nationalized.

8. If the federal budget is to be balanced, it should be done over the business cycle rather than yearly. 85%)
A - The "Insiders" only want it done on the business cycle because the business cycle is far more rigged than random by way of the tag team of banking and markets, thus allowing them to sell high and buy low with repeated miraculous timing.

9. Cash payments increase the welfare of recipients to a greater degree than do transfers-in-kind of equal cash value. (84%)
A - Having possession of the accepted means of exchange gives you choice and freedom. Anything else offered can also be traded by barter, thus it is hard to try and influence good life choices by the means of transfers in kind.

10. A minimum wage increases unemployment among young and unskilled workers.
(79%)
If you have free trade agreements with low wage advantaged, even overt slavery economies, as their goods decimate your manufacturing and your unemployment increases, the slaveminded raiders from near and far would eventually reduce your labour force to the same.