Nathan McLellan
Economics is about more than just money; it is also about how individuals, communities, and entire societies use their resources.
It means paying careful attention to human nature and behaviour as people interact with economic institutions and policies, and realising that sometimes those well-intended institutions and policies have unintended effects.
Economics is not just fiscal, it is social.
Managing resources
Much of what we do at Maxim Institute is concerned with how New Zealand uses its resources.
For example Research Manager Jane Silloway Smith’s superb work on foreign aid recommended that we target our investment on the Pacific and focus on particular projects in collaboration with other countries, like Australia.
That was a recommendation on resource use, one that can help achieve the ultimate goal of assisting more people in developing countries.
Likewise, Researcher Kieran Madden’s work on poverty asks questions about the connection between well-being and resources, and what it looks like for people to flourish in society and in the economy.
Kiwi Partners
Answering these questions involves thinking about how every New Zealander can participate in our economic prosperity.
For example, how can those living in New Zealand’s regions have economic opportunities similar to those living in New Zealand’s major cities?
We also need to think about how to pursue economic goals without undermining other factors that contribute to New Zealanders’ wellbeing, such as the quality of our natural environment.
New Projects
In the coming years, we will begin projects that ask how New Zealand can foster an economy that is vibrant, prosperous, and socially grounded.
From the price of milk, to how easy it is to find a job: the way we live and many of the choices we get to make depend on the strength of the economy.
The economic decisions made by our political and business leaders directly affect everyone’s quality of life.
That is why economic concepts like productivity, trade and consumption matter so much, even if they may seem technical or remote.
Strong economy
A strong market economy that provides opportunities for work and produces goods and services that people can use and trade is a crucial part of a flourishing New Zealand society; not the only part, but also a vital one nonetheless.
Answering economic questions ethically and competently is a key part of realising our vision for a New Zealand characterised by freedom, justice and compassion in which the dignity of every person is promoted.
Nathan McLellan is Senior Researcher at the Auckland based Maxim Institute.
