Fundamental Problems in Economics
The economy is not an understandable and controllable machine as assumed by conventional macroeconomic theory. Rather, the economy is a complex, adaptive system, like many others in nature and society, in which policies can have significant, unintended consequences. Former BIS Chief Economist William R. White We are dealing with an intellectual problem—a profession that has been…
Fiscal Accountability Matters
US President Herbert Hoover once stated, “Blessed are the young, for they shall inherit the national debt.” Right now, young people have a reason to be concerned. Since Covid-19 arrived 18 months ago, New Zealand’s net public debt has nearly doubled. Government net debt rose from 19% of GDP – Gross Domestic Product – in…
Walking the path?
This is a good review by Michael Reddell on my co-authored report. As he pointed out, we agree with the Goodhart/Pradhan hypothesis on the demographic implications on the global financial system.
In praise of aspiring ‘influencers’
Content creators are the fastest growing type of small business worldwide. Today, over 50 million people consider themselves ‘influencers’ on social media. According to YPulse – a youth research organisation in the United States – over 72% of Generation Z wants to become online celebrities. Nowadays, getting famous on Instagram or TikTok is the ticket…
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My writings covers a wide range of topics but mainly around political affairs, economic policy, international relations and globalisation.
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Leonard Hong 