New Zealand was in a crisis worse than Hawaii's when a Labor government decreed a big-bang shakeup in 1984. It opened its doors to foreign investment, abolished most import controls and tariffs, abolished agricultural subsidies, and let its dollar float on world markets. Its sleepy Sunday closings are history. The variety of goods and services available to its citizens has increased immensely. Yes, unemployment went from 4 percent to more than 11 percent in the first six years, but now is back below 6.
Election results say yes.
The Labor government that started the revolution was re-elected in 1987. National's conservatives won in 1990, repealed mandatory unionism and won again in 1993. A new election method produced a coalition government in 1996 but all main contending political parties, including Labor, promised not to turn back the clock. Our business, labor and political leaders, plus all of us, need to know more about this. I venture to suggest a way.