More on Cunliffe’s Great Leap Backwards






  • almost doubling federal spending from 1929 to 1933
  • expanding public works projects to create jobs
  • increasing trade barriers
  • implementing the largest peacetime tax increase in American history










United States
































Hong Kong
































8 comments on “More on Cunliffe’s Great Leap Backwards

  1. Allan says:

    Cunliffe is a dinosaur when it comes to economic matters. For a man who went to a prestigious University in the USA his ignorance on what makes the world and economies work is astounding. Also his arrogance is also unbelievable, god help us all if he got anywhere near the halls of power.

  2. captain Kidd says:

    It never ceases to amase me that people will willingly vote for someone who advocates loss of freedom,ie give away their rights and freedoms so someone else can tell them what to do.almost all in the greens/labour have very little/no understading of basic economics,as do almost everyone who votes for them.I hassen to add that the present National govt also seems to have little understanding of economics

  3. Andrewo says:

    Whilst being in the agri business likely did hold back New Zealand’s economic performance to some degree, I cannot accept that geographic isolation is a factor. No, it is just a weak excuse for failure. NZ is a place where we can profitably export chilled meat to the other side of the globe or fresh flowers to Tokyo. In my opinion the abuse of the RMA has been one of the biggest factors slowing economic growth.

    Agri business does OK, but what we lack is viable are minerals and manufacturing sectors to complement it.

  4. Vested interest groups tend to be quite vociferous when they think they can grab a bucketful of taxpayers money for their own self-interested projects.

  5. Great and in-depth analysis, thanks a lot for a great read.

    I’ve just started blogging about technology and the economy over at

    This kind of work really inspires me to keep going! Thanks for posting!

  6. Adelaide says:

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