John Gallagher nominates Gareth Morgan, a well-known New Zealand economic commentator, for this week’s Ladder award.
He nominates Gareth Morgan because he says “Gareth Morgan lucidly draws attention to major global economic shifts that are going on, and does so in ways that enable readers to look more clearly not only into what is happening, but also at some major features of the world beyond it.”
John adds that “With capitalism as with everything else in history, nothing remains forever the same. To put the problem Gareth is dealing with brutally frankly, a massively spent-out United States has become the sick man of the world economy, and its medical condition is globally contagious.
There are of course quite a few major global changes going on at present. All of them need to be recognised and planned for by New Zealanders as well as others. One of these changes is a massive shift of wealth from the United States to Asia, especially to China and India.
Gareth Morgan enables the question to be asked, how can New Zealand best position itself to come through these changes in good fettle, and perhaps even have something to offer to a wider world trying to do likewise?”
John Gallagher feels that “Shovel Awards are merited by the many commentators and decision-makers who have been ignoring the growing economic storm, many of whom he now expects will lose their nerve. Shovels Awards should also be given to those should be in a position to know better, but who propose very simplistic analyses and then, in similar vein, reactive and emotively-framed policy solutions.”
For Gareth Morgan’s articles, see especially Great party, now for the hangover
This was the second of three articles. The other two are:
Gluttons table set by central banks and Investors lose zest as loans become lemons