Opinion: Bollard's Keynesian resurgence

Chris Trotter explains why he likes the big OCR cut at policy.net.nz "Allan Bollard should be thanked for more than simply knocking down our mortgage rates. The Reserve Bank Governor's decision to cut the OCR by 50 basis-points also represented a courageous endorsement of old-fashioned Keynesian economics... " ... One person who will not be snorting with a mixture of derision and disgust at this latest sign of Keynesian resurgence is Michael Cullen. Indeed, Cullen could hardly have hoped for better than a 50 basis-point reduction ... " Read the rest of of Trotter's piece here.