15 Facts About Rogernomics

Rogernomics featured market-led restructuring and deregulation and the control of inflation through tight monetary policy, accompanied by a floating exchange-rate and reductions in the fiscal deficit.

Rogernomics showed his interest in economic policy in his maiden speech, in which he argued against foreign investment in the domestic economy.

Rogernomics was among the government's leading advocates of compulsory saving for retirement, which he saw not only as a supplement to public provision for retirement but as a source of funding for public investment in economic development.

Rogernomics framed his chief concern as the deep-seated problems in the structure of the economy that had contributed to deteriorating economic performance, and a standard of living that was slipping in comparison to that of other developed countries.

Rogernomics wrote that twenty years of pandering to entrenched interests had dampened productive investment.

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Rogernomics claimed in 1981 that Labour had an image as a party that would promise the public anything to be elected.

Rogernomics argued that the party should agree on its economic policy before it agreed on anything else, and allow economic reality to play a part in its decision-making.

Rogernomics's colleague Mike Moore claimed that there was a public perception that Labour policy sought "to reward the lazy and defend bludgers".

Rogernomics gave Douglas responsibility for economic policy and made it clear that economic policy would determine other policy.

Rogernomics argued in 1982 that the government should actively support small business, and intervene to stop the aggregation of assets by big business.

Rogernomics prepared a caucus paper called the "Economic Policy Package" which called for a market-led restructuring of the economy.

Rogernomics acknowledged the contribution to the package of Doug Andrew, a Treasury officer on secondment to the parliamentary opposition, among others.

Rogernomics's assessment was that Douglas was predisposed towards the Treasury view because its implementation required decisive action and because greater reliance on the market solved what Douglas saw as the problem of interest-group participation in policy-making.

Some argue that for the rest of the population, Rogernomics failed to deliver the higher standard of living promised by its advocates.

Rogernomics has been credited with a number of other positive impacts on the New Zealand economy: inflation, which had reached a high of 17.