Ruth Richardson turns this lecture into a study of economic liberty and the success story that New Zealand, her native country, has become. She lists the events that brought the reforming forces into play and the two reform waves that took place: One in 1964 by the Labour government and the other in 1990 by the National government, when Richardson was Minister of Finance. She tells the story of how the idea of liberty was put into action – how interest controls were removed, how the income tax was slashed in favor of a goods-and-services tax, and how privatization took place, among others. She shares the key intellectual principles that aided in the transformation of this country and the economic growth that it had as consequence of the implementation of economic liberty.
Ruth Richardson
Ruth Richardson was New Zealand's Minister of Finance during the period of 1990 to 1993. She conducted the New Zealand's second wave of reforms, after the first one, that was directed by Roger Douglas in the mid 1980's. Richardson got her Law degree with Honours from Canterbury University. She's now the principal of Ruth Richardson [NZ] Ltd., a company that offers international consultancy and corporate governance services.
Friedrich A. Hayek Auditorium
Universidad Francisco Marroquín
Guatemala, June 16, 1997
Digitized by New Media - UFM. Guatemala, June 1997 Index: Inés Zúñiga; synopsis: Sebastian del Buey; synopsis reviser: Daphne Ortiz; GML: Pedro David España
This work is licensed under a Creative Commons 3.0 License Este trabajo ha sido registrado con una licencia Creative Commons 3.0
Content
Initial credits
Presentation of Ruth Richardson
Introduction
Reform ambition
History of New Zealand´s starting point
The economic transformation
The "big bang" reform
Most competitive country
Least corrupt and most free country
A deregulated labor market
The combination of events that brought the reforming forces into play
The two waves of the reform
Labor´s initial push
Policy framework
Growing economy
The key intellectual principles
End of lecture
Final credits
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Universidad Francisco Marroquín
6 Calle final, zona 10
Edificio de la Escuela de Negocios
Oficina EN-103
Guatemala, Guatemala 01010
Teléfono (+502) 2338-7700 ext. 7849
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