IDEAS home Printed from https://ideas.repec.org/a/taf/nzecpp/v38y2004i2p265-277.html
   My bibliography  Save this article

What's wrong with New Zealand's public benefit test?

Author

Listed:
  • Geoff Bertram

Abstract

New Zealand courts and regulatory authorities have since 1994 adopted an extreme neoliberal version of the public benefit test, treating wealth transfers from consumers to monopolists as welfare-neutral. This abandonment of the long-established consumer-welfare or balancing-weights standards used in most other OECD jurisdictions rests upon a misconstruction of the alleged inability of economists to reach consensus on how to evaluate changes in income distribution. The intellectual cul-de-sac occupied by “new welfare economics” should leave policymakers free to attack monopoly profits without having to endure utilitarian criticisms from neoliberal economists. In doing so. New Zealand policymakers would be acting in accordance with strong economic arguments for restraining monopoly, drawn from the wider mainstream of the economic literature and requiring no utilitarian underpinning.

Suggested Citation

  • Geoff Bertram, 2004. "What's wrong with New Zealand's public benefit test?," New Zealand Economic Papers, Taylor & Francis Journals, vol. 38(2), pages 265-277.
  • Handle: RePEc:taf:nzecpp:v:38:y:2004:i:2:p:265-277
    DOI: 10.1080/00779950409544406
    as

    Download full text from publisher

    File URL: http://www.tandfonline.com/doi/abs/10.1080/00779950409544406
    Download Restriction: Access to full text is restricted to subscribers.

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Dani Rodrik & Arvind Subramanian & Francesco Trebbi, 2004. "Institutions Rule: The Primacy of Institutions Over Geography and Integration in Economic Development," Journal of Economic Growth, Springer, vol. 9(2), pages 131-165, June.
    2. William Easterly, 2002. "The Elusive Quest for Growth: Economists' Adventures and Misadventures in the Tropics," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262550423, January.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:taf:nzecpp:v:38:y:2004:i:2:p:265-277. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (). General contact details of provider: http://www.tandfonline.com/RNZP20 .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.