FACING A CRISIS
NEW ZEALAND’S ECONOMY EFFECT OF SOCIALISM Rec. 10 p.m. NEW YORK, Mar. 29. New Zealand faced an economic crisis in the near future unless there was a halt in its rapid socialisation, Mr Fred G. Clark, general chairman of the American Economic Foundation, said to-day. He added that a “ something for nothing ” philosophy pervaded the country, whereby social security was confused with social economy. He said that New Zealand’s productivity had deteriorated and there was no inducement for foreign industry to settle there. Mr Clark, who has spent the last three months in New Zealand, said the tide might change if the present Labour Government were defeated at the next elections. He added that there was a large amount of “voluntary unemployment ” because of the present welfare programme.
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Otago Daily Times, Issue 27043, 30 March 1949, Page 5
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131FACING A CRISIS Otago Daily Times, Issue 27043, 30 March 1949, Page 5
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