A FORMER New Zealand prime minister once joked the migration of his citizens to Australia increased the IQ of both countries.But a study shows the joke is on NZ. Australians are far more productive and earn much more than their Kiwi cousins.
Here is the original article. And here is a response with a deeper explanation in defense of NZ. Either way, NZ expats gotta feel a little guilty!
1 comment:
Classic... the relative decline of NZ in terms of productivity and incomes is very interesting indeed... particularly when the high income earners in Aussie are taxed considerably more than their Kiwi counterparts.
NZ was the 2nd wealthiest country in the 1970s and is now near the bottom of the OECD (somehwere around 25th) in terms of GDP per capita.
The thread on the marginal revolution site has some interesting explanations... and while I think natural resources play a part I think there is more to it than that. Just not sure what the X factor is yet.
Post a Comment