Are we really in a recession?

7 月 12, 2023

Re: Recession a dark cloud [Christopher Luxon, Times, June 21]. When I bragged some silliness my father would retort, “You’ll do a fat lot!” Will Christopher Luxon “fix” the economy or “do a fat lot”?

Are we really in a recession? GDP makes no distinction between “want” and “need”. Perhaps people are simply spending less on what they don’t need.

Some businesses will fail. Neo-liberals tell us that is how the market is meant to work. If you make a profit, you are clever and helping society allocate resources correctly.

If you are making a loss, the government has mismanaged the economy, according to Christopher Luxon. Maybe what it really means is some people are doing a job that doesn’t matter. That would certainly account for the shortage of people to do the work that needs to be done.

Dennis Horne, Howick

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