The Economy
Sir, —Loyalty and decency are, of course, desirable qualities. They cannot be used to solve a mathematical problem. The same applies to economies. In a boat adrift at sea belt-tightening could be justified. Within New Zealand there is, however, an abundance of primary produce. Bob Semple used to say a horse in a paddock with grass up to its knees would not starve. No amount of belt-tightening can affect the external trade balance. Reduced exports can only be countered by reduced imports or reduced licensing quotas. The last depression proved this. There seems no need to go over the same ground again. Perhaps, however, only the Labour Party has the enterprise and common sense to see that not by belt-tightening but only by import control can the essential trade balance be readjusted. Belt-tightening is thus a form of self-inflicted shortage.—Yours, etc., T. M. SHAW. Westport, March 10, 1967.
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Press, Volume CVI, Issue 31316, 11 March 1967, Page 12
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150The Economy Press, Volume CVI, Issue 31316, 11 March 1967, Page 12
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