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“If the only tool you have is a hammer, everything looks like a nail,” American psychologist Abraham Maslow proclaimed in 1966. The concept refers to the cognitive bias that involves an over-reliance on a familiar tool. Read more
Douglas Adams' classic The Hitchhiker's Guide to the Galaxy offers salient advice about an awful lot of things. Don't listen to Vogon poetry. Read more
Artificial intelligence will soon steal all our jobs, subjecting humans to the whims of a small and privileged capital-owner elite. At least, that is a recurring conspiracy in apocalyptical sci-fi movies or in the minds of modern luddites. Read more
Dr Eric Crampton talks to Radio New Zealand, The Panel about a Universal Basic Income (UBI) and whether it would work in New Zealand. Listen to the full interview below. Read more
In 1936, the father of Keynesian economics, John Maynard Keynes, used the term ‘animal spirits’ to refer to the fluctuating human emotions that can drive economic decisions in stressful times. Today the term is most often found in the context of investors’ decisions. Read more
Let’s say you’ve bought non-refundable tickets for a movie, and then hear scathing reviews. It’s better to tear up the tickets and make other plans for the evening rather than bloody-mindedly watch the film just because you’ve already paid to go. Read more
Bipartisan politics is a rare beast in New Zealand nowadays. It is even harder to spot when political parties are shy to sponsor necessary policy changes that might arouse public backlash at first. Read more
The great legacy of the reforms of the 1980s and 1990s were the durable institutions that have since guided how we are governed. The Fiscal Responsibility Act set a framework for balanced budgets that has withstood many changes in government. Read more
In case you missed it, the World Rugby Federation members have adopted a new code of conduct. Right in time for the 2019 World Cup, national teams have agreed on a more holistic approach to playing the game. Read more
What are budget advisers to make of the Reserve Bank governor’s call for increased public and private spending? Adrian Orr has reportedly even floated, as a future contingency option, taxing cash holdings to encourage savers to either spend or invest to stimulate the economy. Read more