I reckon New Zealand’s a bit of an economic miracle really. Small country, new country without centuries of infrastructure, middle of nowhere, good only at making dead animals and animal products. Yet we’ve got one of the highest living standards in the world. Not that you would know it from our ‘business leaders’. Always whining the country hasn’t made them rich enough. But maybe we can do better. I’ve worked out the problem.
It’s our business ‘leaders’.
Yesterday, we were ranked dead last in quality of fund management, because our financial institutions aren’t transparent and too inclined to screw their investors.
Same day we ranked 12th in a ‘stress test’ of how well countries are placed to handle recessions. We ranked 7th in our government’s ability to react well. 11th in society’s robustness and adaptability. Our businesses dragged us down – 11th in business, 30th in economic outlook.
Our glorious business leaders spent the last 10 years of record growth pocketing huge profits and whinging for tax cuts. They should have been investing in our economic future. We’re meant to buy this myth that these are the smartest men in the room. Most of them can’t understand something as simple as climate change or that booms don’t last forever. They’re anti-intellectual, greedy, and shallow.
And they’ve got no ideas.
Look at the jobs summit. John Key gets a couple of hundred supposed business geniuses together to solve the recession. The only actual ideas that come out of it: a half-assed version of the unions’ four day week and a cycleway. (Whatever happened to those 40-50 other ideas Key promised were being worked on?)
After the stunning success of the jobs summit, two ‘business leaders’ are holding an entreprenuers’ summit today. Meant to solve the parts of the recession that the jobs summit didn’t. If you want to listen to 15 minutes of drivel, listen to them explain their ideas on 9 to noon yesterday.
The low quality of our managers drag this country down from big company to small. Because of Rob Fyfe, Air New Zealand is suffering loss of brand and customers over a pay rise for 240 staff that’s worth less than Rob Fyfe himself got last year. You’ve got Lane Walker Rudkin where managerial incompetence has led to the business laying off close to 200 workers and cheating them out of their redundancy. Meanwhile the CEO of Lines Company is threatening to lock-out 40 staff because they want a 2% pay rise totalling $26,000. Dude got a $30,000 increase on his $300,000 salary last year.
Of course, the worst businesses are the foreign parasites, the banks. They treat our country like a Chinese bear’s gall bladder. They milk us all they can without actually making us collapse. Billions a year sucked out of our economy in return for inferior quality bank services.
So what do we do about it? Buggered if I know… tax cuts?