Outlier economist
Managing the pace of change, keeping markets open and improving living standards are key to economic stability, according to chief executive of the New Zealand Treasury, Gabriel Makhlouf.
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ECONOMIC orthodoxy has it that globalisation is good - and technology improves productivity and efficiency. So why is there so much global unhappiness over the free flow of goods, services, talent and capital, as well as the growth of computing and artificial intelligence in everyday lives?
Where did the theory go wrong?
Gabriel Makhlouf, chief executive of the New Zealand Treasury, reckons the theory is still sound, but is incomplete. Economists are right when they say globalisation and technology bring prosperity to those who embrace them, he says. What the theory has failed to account for, however, is what happens when change comes quickly.
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