Rogernomics

Common card · No. 355364

Rogernomics (a portmanteau of Roger and economics modelled on Reaganomics) were the neoliberal economic reforms promoted by Roger Douglas, the Minister of Finance between 1984 and 1988 in the Fourth Labour Government of New Zealand. Rogernomics featured market-led restructuring and deregulation and the control of inflation through tight monetary policy, accompanied by a floating exchange-rate and reductions in the fiscal deficit. During the early 1980s, Douglas transitioned from a traditional Labour politician advocating for economic interventionism to a proponent of neoliberal economics. After the Labour Party won government in 1984, Douglas and his associates implemented major policies including a 20% devaluation of the dollar, corporatisation of state-owned business, removal of subsidies to industries (particularly agricultural subsidies), reduction of tariff protection, and a significant overhaul of the tax system. Tax cuts were implemented, and a Goods and Services Tax (initially set...

Read on Wikipedia · Image Regina Kühne, CC BY 4.0