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Am I seriously missing something?!?! Submitted by Elijah Lineberry on Sun, 2007-10-07 04:51.
The Heritage Foundation has published the Economic Freedom Index for 2007 and they simply rave about New Zealand in an almost slobbering way! For instance... New Zealand rates highly in almost all areas of economic freedom but is most impressive in financial freedom, property rights, business freedom, labor freedom, and freedom from corruption and what about... Private property is well protected in New Zealand. The judiciary is independent, and contracts are notably secure ...where they give us a 9/10 for Property Rights, which shows they never bothered to visit here and talk to people before compiling this list!
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(property rights?!?!)
Although I think he makes a
Although I think he makes a big error with Switzerland.
In my opinion Australia, Canada, and Switzerland have the most 'competitive potential'.
If I said that the largest mining houses in the world are BHP Billiton from Australia/South Africa, Rio Tinto from Australia/UK, and CVRD from Brazil, and asked "where is the one from Europe - think laterally here?" most people would reply after a long thought "errr Russia".
But no, from the Swiss canton of Zug we have Glencore and Xstrata.
This always gets me, 10 years ago NZ & Swizterland had no mining companies.
Now, 10 years later and 5 years into a massive resoures boom NZ, which actually has its own mining resources and is very close to Australia and <1 day from BC/Alberta, has zero zip nada.
But Switzerland with absolutely no geological resources of its own has produced two (albeit inter-related) global dominating mining houses.
Doesn't take any brains to work out that Nestle are scheming day and night in Geneva on how to ramp up dairy production in Poland/Romania etc to out-compete Fonterra either. (At least PGG Wrightson are making an effort - although success not guaranteed - in Uruguay.)
[Also from memory (I don't follow healthcare or biotech stocks), aren't the major pharmaceuticals based either in Switzerland or the US, and the major health technology stocks in Australia (CSL, RMD) or the US?]
A
splendid story in the NZ Herald this morning from a Bloomberg Columnist, Matthew Lynn.
As Lindsay and I were critical of these surveys last month, he also talks of the absurdities of many of the rankings in the 'Global Competitiveness Report'...and having America as the most 'competive' economy is greeted with utter astonishment!
In reality, you would be hard pushed to beat New Zealand when it comes to competitiveness, but no one is allowed to say that.
I
was discussing this idea with one of my chums at lunch last Wednesday...
I suggested the idea of purchasing a massive sheep station in the High Country, 20,000 acres or so, and offering to 'Secede' from New Zealand, to start an entirely new country.
As a working title I suggested the name 'New Freeland' and did wonder what the chances would be of Mrs Davis agreeing to such a move...and if she could come up with a plausible reason for refusing permission beyond the "a country within a country" argument, which has hardly been a problem for Luxembourg or San Marino.
We both agreed there seems no other alternative as every country has restrictions on freedom, so moving abroad is no solution (and a lot of foreigners live abroad, too, which is hardly encouraging).
What are your views on this? do you think Mrs Davis would agree? (I am now discounting the idea of Prime Minister John Key, so it would be pointless asking him)
Whatever you're missing
Whatever you're missing Elijah, can you let me know when you've found it? That property rights rating...
That
would not surprise me about Business Roundtable members...biggest bunch of wankers you would ever be unfortunate enough to 'endure' at dinner parties.
Eli (Attn Ed Hudgins!!)
We've had to contend with this crap for years. It was the main cause of my falling out with TOC-KASSless.
I think the Business Roundtable feeds them this pollyanna stuff for strategic reasons, even though it knows it's BS.
Linz
Not to forget the Treaty Issues
I bet there are many property developers in New Zealand that would have quite a bit to say about "protection from the national regulatory environment".
It
would appear the chaps at Heritage are terrified of being negative towards their own country of America, so the report on the US contains very high marks (which are unjustified) and a lot of hilarious contradictory statements...(this had me laughing my head off)
...
The business environment has allowed entrepreneurship to flourish. Obtaining a business license is simple, and closing a business is very easy. The overall freedom to start, operate, and close a business is strongly protected by the national regulatory environment
...(read it again 
it simply does not make sense) 
They give America a mark of 94.5 for 'Business Freedom' (NZ gets only 93.7) yet you need a 'licence' (not in NZ) and 'protected by a regulatory environment'?!?! ...as evidence of freedom?!?!
*sigh*