Rogernomics
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Rogernomics
In February 1985, journalists at the ''New Zealand Listener'' coined the term Rogernomics, a portmanteau of "Roger" and "economics" (by analogy with "Reaganomics"), to describe the neoliberal economic policies followed by Roger Douglas. Douglas served as Minister of Finance (1984–1988) in the Fourth Labour Government of New Zealand of 26 July 1984 to 2 November 1990. 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. Dalziel, Paul in Easton, Brian ed ''The Making of Rogernomics'' Auckland University Press 1989 p. 53 Douglas came from a background of Labour Party politics. His adoption of policies more usually associated with the political right (or New Right), and their implementation by the Fourth Labour Government, became the subject of lasting controversy. Douglas and the development of economic policy, 1969–1983 Dougla ...
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Roger Douglas
Sir Roger Owen Douglas (born 5 December 1937) is a retired New Zealand politician who served as a minister in two Labour governments. He became arguably best known for his prominent role in New Zealand's radical economic restructuring in the 1980s, when the Fourth Labour Government's economic policy became known as "Rogernomics". Douglas served as a Labour Member of Parliament from 1969 to 1990. During his time as Minister of Finance (1984 to 1988), the government floated the New Zealand dollar, introduced corporate practices to state services, sold off state assets, and removed a swathe of regulations and subsidies. Some Labour Party supporters regarded Douglas's economic policies as a betrayal of Labour's left-wing policy-platform, and the moves became deeply unpopular with the public and with ordinary party members. His supporters defended the reforms as necessary to revive the economy, which had been tightly regulated under National's Muldoon (Minister of Finance from 1975 t ...
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