Muldoon attacks ‘new Right’
By
OLIVER RIDDELL
in Wellington
Free-market monetarists in his own party as well as Labour have been criticised by the former National Prime Minister and Minister of Finance, Sir Robert Muldoon.
In a speech to the Hutt Rotary Club he said these “new Right” people still had the vain hope they could “turn New Zealand into the Albania of the free-market monetarist theorists.” This was a reference to the wish of Albania to be the last place to stick to Communism in its purest form. “There are those in departmental positions and on both sides in Parliament who cling to the theoretically flawed, academically discarded and practical failures of a system which claimed a modern economy could do its best if the money supply were manipulated in a limited area and everything else was left to find its own level,” Sir Robert said.
In some parts of the South Island barter was replacing the money economy. “I know that Labour Government policies have caused farmers to go across and help their neighbours with their shearing and in turn their neighbours will do the same for them,” he said.
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Press, 11 September 1989, Page 18
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192Muldoon attacks ‘new Right’ Press, 11 September 1989, Page 18
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