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80-528: Rogernomics (a portmanteau of Roger and economics attributed to Reaganomics ) were the neoliberal economic reforms promoted by Roger Douglas , the Minister of Finance between 1984 and 1988 in the Fourth Labour Government of New Zealand . Rogernomics featured market-led restructuring and deregulation and the control of inflation through tight monetary policy , accompanied by

160-413: A blend —also known as a blend word , lexical blend , or portmanteau —is a word formed by combining the meanings, and parts of the sounds, of two or more words together. English examples include smog , coined by blending smoke and fog , as well as motel , from motor ( motorist ) and hotel . A blend is similar to a contraction . On the one hand, mainstream blends tend to be formed at

240-598: A floating exchange-rate and reductions in the fiscal deficit . During the early 1980s, Douglas transitioned from a traditional Labour politician advocating for economic interventionism to a proponent of neoliberal economics. After the Labour Party won government in 1984, Douglas and his associates implemented major policies including a 20% devaluation of the dollar , corporatisation of state-owned business, removal of subsidies to industries (particularly agricultural subsidies ), reduction of tariff protection, and

320-415: A country living on borrowed money, unable – in spite of the record efforts of its exporters – to pay its own way in the world. From a neoliberal point of view which promotes small government, balanced budgets and inflation targeting, the economic policy of successive governments had left the domestic economy sheltered and unresponsive to consumers; inflation, which was more than ten per cent a year throughout

400-535: A form suitable for carrying on horseback; (now esp.) one in the form of a stiff leather case hinged at the back to open into two equal parts". According to The American Heritage Dictionary of the English Language ( AHD ), the etymology of the word is the French porte-manteau , from porter , "to carry", and manteau , "cloak" (from Old French mantel , from Latin mantellum ). According to

480-400: A healthy peacetime life for its inhabitants, everywhere in the world. The standard of living varies between individuals depending on different aspects of life. The standard of living consists of the individuals having the basics such as food, shelter, social safety and interaction, which all contribute to their wellbeing and what is considered to be a decent living standard. Commentators use

560-427: A kind of bath), the attributive blends of English are mostly head-final and mostly endocentric . As an example of an exocentric attributive blend, Fruitopia may metaphorically take the buyer to a fruity utopia (and not a utopian fruit); however, it is not a utopia but a drink. Coordinate blends (also called associative or portmanteau blends) combine two words having equal status, and have two heads. Thus brunch

640-569: A member of society, has the right to social security and is entitled to realization, through national effort and international co-operation and in accordance with the organization and resources of each State, of the economic, social and cultural rights indispensable for his dignity and the free development of his personality." Furthermore, it has been written down in article 11 of the United Nations' International Covenant on Economic, Social and Cultural Rights . The predecessor of this right,

720-622: A mere splinter or leftover word fragment. For instance, starfish is a compound, not a blend, of star and fish , as it includes both words in full. However, if it were called a " stish " or a " starsh ", it would be a blend. Furthermore, when blends are formed by shortening established compounds or phrases, they can be considered clipped compounds , such as romcom for romantic comedy . Blends of two or more words may be classified from each of three viewpoints: morphotactic, morphonological, and morphosemantic. Blends may be classified morphotactically into two kinds: total and partial . In

800-444: A no-strike commitment from the union. Later settlements drew further concessions from unions, including below-inflation wage increases, and an effective real wage cut. There was a structural change in the economy from industry to services, which, along with the arrival of trans-Tasman retail chains and an increasingly cosmopolitan hospitality industry, led to a new ‘café culture’ enjoyed by more affluent New Zealanders. Some argue that for

880-670: A number of characteristics including as the quality and availability of employment , real income , disposable income , class disparity, poverty rate , quality and housing affordability, hours of work required to purchase necessities , gross domestic product , inflation rate , amount of leisure time, access to and quality of healthcare, quality and availability of education , literacy rates, life expectancy, occurrence of diseases, cost of goods and services, infrastructure, access to, quality and affordability of public transportation, national economic growth , economic and political stability, freedom, environmental quality, climate and safety. For

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960-637: A number of different measures and approaches to establish the decent living standard (DLS). The decent living standard revolves around the idea and principle that a majority of the population demand the basics that will allow them to have shelter, food and water; however it is not always able to be maintained for a long period of time. Standard of living is generally measured by standards such as inflation -adjusted income per person and poverty rate. Other measures such as access and quality of health care , income growth inequality , and educational standards are also used. Examples are access to certain goods (such as

1040-401: A particular historical moment followed by a rapid rise in popularity. Contractions, on the other hand, are formed by the gradual drifting together of words over time due to them commonly appearing together in sequence, such as do not naturally becoming don't (phonologically, / d uː n ɒ t / becoming / d oʊ n t / ). A blend also differs from a compound , which fully preserves

1120-495: A reputation as a maverick, he remained within the mainstream of economic thinking in the parliamentary Labour Party. He argued in 1982 that the government should actively support small business, and intervene to stop the aggregation of assets by big business. In his view, the government should use the tax system to encourage productive investment and discourage speculative investment. Until the end of 1983, Douglas saw exchange rate, tax and protection policies as means of actively shaping

1200-419: A significant overhaul of the tax system . Tax cuts were implemented, and a Goods and Services Tax (initially set at 10%) was introduced. Rogernomics represented a sharp departure from the post-war political consensus that emphasised heavy interventionism, protectionism , and full employment . Instead, it embraced principles of small government , balanced budgets , and free market policies influenced by

1280-435: A standard of living adequate for the health and well-being of him/herself and of his/her family, including food , clothing , housing and medical care and necessary social services, and the right to security in the event of unemployment, sickness, disability, widowhood, old age or other lack of livelihood in circumstances beyond his/her control. "All human beings are born free and equal in dignity and rights." "Everyone, as

1360-486: A total blend, each of the words creating the blend is reduced to a mere splinter. Some linguists limit blends to these (perhaps with additional conditions): for example, Ingo Plag considers "proper blends" to be total blends that semantically are coordinate, the remainder being "shortened compounds". Commonly for English blends, the beginning of one word is followed by the end of another: Much less commonly in English,

1440-425: A twenty per cent devaluation of the dollar to increase the competitiveness of exports. Although radical, it took an eclectic approach and did not hint at the abandonment of Labour's Keynesian policy framework. Douglas became increasingly frustrated by what he saw as the Labour Party's reluctance to deal with fundamental issues of economic policy. He claimed in 1981 that Labour had an image as a party that would promise

1520-915: Is frankenword , an autological word exemplifying the phenomenon it describes, blending " Frankenstein " and "word". Standard of living In international law, an "adequate standard of living" was first described in the Universal Declaration of Human Rights and further described in the International Covenant on Economic, Social and Cultural Rights . To evaluate the impact of policy for sustainable development , different disciplines have defined Decent Living Standards in order to evaluate or compare relative living experience. During much of its use in economics, improvements to standard of living were thought to be directly connected to economic growth , as well as increase amount of energy consumption and other materials. However,

1600-477: Is a Japanese blend that has entered the English language. The Vietnamese language also encourages blend words formed from Sino-Vietnamese vocabulary . For example, the term Việt Cộng is derived from the first syllables of "Việt Nam" (Vietnam) and "Cộng sản" (communist). Many corporate brand names , trademarks, and initiatives, as well as names of corporations and organizations themselves, are blends. For example, Wiktionary , one of Misplaced Pages 's sister projects,

1680-496: Is a blend of wiki and dictionary . The word portmanteau was introduced in this sense by Lewis Carroll in the book Through the Looking-Glass (1871), where Humpty Dumpty explains to Alice the coinage of unusual words used in " Jabberwocky ". Slithy means "slimy and lithe" and mimsy means "miserable and flimsy". Humpty Dumpty explains to Alice the practice of combining words in various ways, comparing it to

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1760-440: Is both phonological and orthographic, but with no other shortening: The overlap may be both phonological and orthographic, and with some additional shortening to at least one of the ingredients: Such an overlap may be discontinuous: These are also termed imperfect blends. It can occur with three components: The phonological overlap need not also be orthographic: If the phonological but non-orthographic overlap encompasses

1840-699: Is neither a breakfasty lunch nor a lunchtime breakfast but instead some hybrid of breakfast and lunch; Oxbridge is equally Oxford and Cambridge universities. This too parallels (conventional, non-blend) compounds: an actor–director is equally an actor and a director. Two kinds of coordinate blends are particularly conspicuous: those that combine (near‑) synonyms: and those that combine (near‑) opposites: Blending can also apply to roots rather than words, for instance in Israeli Hebrew : "There are two possible etymological analyses for Israeli Hebrew כספר kaspár 'bank clerk, teller'. The first

1920-405: Is that it consists of (Hebrew>) Israeli כסף késef 'money' and the ( International /Hebrew>) Israeli agentive suffix ר- -ár . The second is that it is a quasi- portmanteau word which blends כסף késef 'money' and (Hebrew>) Israeli ספר √spr 'count'. Israeli Hebrew כספר kaspár started as a brand name but soon entered the common language. Even if the second analysis is the correct one,

2000-497: The New Zealand Listener coined the term Rogernomics as a portmanteau of Roger and economics . It echoes " Reaganomics ", similar neoliberal economic policies promoted by United States President Ronald Reagan in the 1980s. Douglas became a Labour member of Parliament at the 1969 general election . He showed his interest in economic policy in his maiden speech, in which he argued against foreign investment in

2080-630: The Alliance , and United (later United Future ). Clark for her part survived these internal leadership scuffles and Labour stabilised under her leadership during the third and final term of the Jim Bolger and Jenny Shipley ministries. Much like Tony Blair in the United Kingdom, Clark assumed a compromise solution to social exclusion and poverty, combining advocacy of the open economy and of free trade with greater emphasis on fighting

2160-759: The Chicago school of economics . Douglas' 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. While proponents argued that Rogernomics brought about positive changes such as single-digit inflation and reduced tax rates, critics highlighted social challenges, including rising poverty and unemployment. The legacy of Rogernomics continues to shape discussions on economic policy in New Zealand. In February 1985, journalists at

2240-547: The First Labour Government from 1936 onwards, and since 1945 both parties had aimed at maintaining full employment. However, beneficiaries of the regulated economy had flourished in both public and private sectors. Douglas argued that only radical action would improve the economic outlook. In 1980, he published an "Alternative Budget" that attacked what Douglas called the Muldoon government's "tinkering" with

2320-606: The Freedom from Want , is one of the Four Freedoms that American President Franklin D. Roosevelt spoke out at his State of the Union of January 6, 1941. According to Roosevelt it is a right every human being everywhere in the world should have. Roosevelt described his third right as follows: The third is freedom from want which, translated into world terms, means economic understandings which will secure to every nation

2400-583: The IPCC Sixth Assessment Report found that literature demonstrates that improvements in sustainable development practices as well as changes in technological efficiency and energy production and use, allow for a Decent Living Standard for all people without fossil fuels and ~15.3 GJ per capita by the end of the 21st century. This allows for climate change mitigation by demand reduction as well as other sustainable development practices. Standard of living might be evaluated using

2480-649: The National Party government from 1990 to 1993. Beginning with the Mother of all Budgets , the National Government expanded these policies by drastically cutting spending, deregulating labour markets, and further asset sales. In 1990 David Lange said of the Government: "It is there to be the securer of its citizen[s'] welfare. Where the market works well, it should be given its head. Where

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2560-533: The OED Online , the etymology of the word is the "officer who carries the mantle of a person in a high position (1507 in Middle French), case or bag for carrying clothing (1547), clothes rack (1640)". In modern French, a porte-manteau is a clothes valet , a coat-tree or similar article of furniture for hanging up jackets, hats, umbrellas and the like. An occasional synonym for "portmanteau word"

2640-432: The stems of the original words. The British lecturer Valerie Adams's 1973 Introduction to Modern English Word-Formation explains that "In words such as motel ..., hotel is represented by various shorter substitutes – ‑otel ... – which I shall call splinters. Words containing splinters I shall call blends". Thus, at least one of the parts of a blend, strictly speaking, is not a complete morpheme , but instead

2720-412: The "nice cop" and Prebble the "nasty cop ", Douglas could sometimes appear as steering a considered middle course. Later Trevor de Cleene was made undersecretary to Douglas, with special responsibility for Inland Revenue. The key element of Douglas's economic thinking was implemented after Labour won the 1984 election but before it was formally sworn into office. This was the 20 per cent devaluation of

2800-425: The 1970s, was high by the standards of the country's major trading partners; and there was a persistent fiscal deficit. It was thought a large part of the economy was controlled by regulation, some arbitrary or inconsistent. The post-war political consensus had produced stability but Douglas viewed this as being at the cost of innovation. Both major political parties maintained the high levels of protection introduced by

2880-445: The 1984 standard of living until 1996; the lowest 30% did not recover their own 1980s living standards for twenty years. The health of the New Zealand population was also especially hard-hit, leading to a significant deterioration in health standards among working and middle-class people. In addition, many of the promised economic benefits of the experiment never materialised. Between 1985 and 1992, New Zealand's economy grew by 4.7% during

2960-575: The Labour Party Prime Minister of New Zealand Elections At the end of 1983 there was a marked change in Douglas's thinking. He prepared a caucus paper called the "Economic Policy Package" which called for a market-led restructuring of the economy. The key proposal was a 20 per cent devaluation of the dollar, to be followed by the removal of subsidies to industry, border protection and export incentives. The paper doubted

3040-399: The New Zealand dollar. The announcement of the snap election immediately provoked selling of the dollar by dealers who anticipated that a change of government would lead to a substantial devaluation. The result was a currency crisis that became a matter of public knowledge two days after the general election. Muldoon refused to accept official advice that devaluation was the only way to stop

3120-503: The ability of the private sector to promote economic development. Economic restructuring was to be led by the government, which would act within a consultative framework. In this way, the social costs of restructuring would be avoided. There was stalemate in the Policy Council. As the 1984 election drew closer, Labour's deputy leader Geoffrey Palmer drafted a compromise that contained elements of both proposals. The Palmer paper

3200-502: The beginning of one word may be followed by the beginning of another: Some linguists do not regard beginning+beginning concatenations as blends, instead calling them complex clippings, clipping compounds or clipped compounds . Unusually in English, the end of one word may be followed by the end of another: A splinter of one word may replace part of another, as in three coined by Lewis Carroll in " Jabberwocky ": They are sometimes termed intercalative blends; these words are among

3280-496: The business environment. In August 1982 he supported a contributory superannuation scheme as a means of funding industrial development and in February 1983 he wrote a paper called "Picking Winners for Investment" which proposed the establishment of local consultative groups to guide regional development. In a paper dated May 1983, Douglas argued that an unregulated market led to unhealthy concentrations of market power. Leader of

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3360-499: The consequences of neoliberal policies. Labour became loosely aligned with the Third Way between 1999 and 2008. The ACT Party , co-founded by Roger Douglas in 1993 to participate in the 1996 MMP election , is the heir to Rogernomics and continues to advance free-market policies. In 1990s New Zealand, advocates of radical economic policies were often branded as "rogergnomes" by their opponents, linking their views to Douglas's and to

3440-473: The contribution to the package of Doug Andrew, a Treasury officer on secondment to the parliamentary opposition, among others. W H Oliver noted the close alignment of the package and Economic Management , Treasury's 1984 briefing to the incoming government. His assessment was that Douglas was predisposed towards the Treasury view because its implementation required decisive action and because greater reliance on

3520-532: The country the focus in the economy shifted from the productive sector to finance. Finance capital outstripped industrial capital and redundancies occurred in manufacturing industry; approximately 76,000 manufacturing jobs were lost between 1987 and 1992. The new state-owned enterprises created from 1 April 1987 began to shed thousands of jobs adding to unemployment: Electricity Corporation 3,000; Coal Corporation 4,000; Forestry Corporation 5,000; New Zealand Post 8,000. The newly unfettered business environment created by

3600-477: The currency crisis and provoked a brief constitutional crisis when he initially refused to implement the incoming government’s instruction that he devalue. Both crises were soon settled when accepted that he had no choice but to devalue after Muldoon's National Party colleagues threatened to approach the Governor General to dismiss him. Although devaluation was a contentious issue in the Labour Party and

3680-488: The deregulation of the financial sector, David Grant writes, left New Zealanders "easy targets for speculators and their agents", exacerbating the effects of the October 1987 stock market crash . During wage bargaining in 1986 and 1987, employers started to bargain harder. Lock-outs were not uncommon; the most spectacular occurred at a pulp and paper mill owned by Fletcher Challenge and led to changes to work practices and

3760-612: The dismantling of the Australasian orthodoxy of state development that had existed for the previous 90 years, and its replacement by the Anglo-American neo-classical model based on the monetarist policies of Milton Friedman and the Chicago School . The financial market was deregulated and controls on foreign exchange removed. Subsidies to many industries, notably agriculture, were removed or significantly reduced, as

3840-493: The domestic economy. His case for external protection of the domestic economy and government involvement in investment was characteristic of the Labour Party of the time. From 1972 to 1975, Douglas was a junior minister in the Third Labour Government , where he won a reputation for his capacity for innovation. This government followed a broadly Keynesian approach to economic management. As a minister, Douglas

3920-441: The economy. He wrote that twenty years of pandering to entrenched interests had dampened productive investment. The Labour leadership saw his proposals and their unauthorised publication as unfavourable comment on Labour policy. The Labour leader Bill Rowling publicly rebuked Douglas. Douglas then published his thinking in the form of a book. Alongside far-reaching proposals for reform of taxation and government spending, it advocated

4000-474: The election with an unfinished argument doing duty as its economic policy. In 1984, Roger Douglas was made Minister of Finance, with two associate ministers of finance, David Caygill and Richard Prebble . They became known as the "Treasury Troika" or the "Troika", and became the most powerful group in Cabinet. Douglas was the strategist, Prebble the tactician, while Caygill mastered the details. With Caygill

4080-452: The end of Douglas' tenure as finance minister; and income tax rates were halved, while gross national income per capita almost doubled, from $ 6,950 USD in 1984 to $ 13,640 USD in 1990. Other supporters of Rogernomics have argued that many statistics do not take into account the improvements in consumer goods it brought, transforming New Zealand from a country where permits were needed to buy overseas magazines, and where prices were high and choice

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4160-599: The final syllable ר- -ár apparently facilitated nativization since it was regarded as the Hebrew suffix ר- -år (probably of Persian pedigree), which usually refers to craftsmen and professionals, for instance as in Mendele Mocher Sforim 's coinage סמרטוטר smartutár 'rag-dealer'." Blending may occur with an error in lexical selection , the process by which a speaker uses his semantic knowledge to choose words. Lewis Carroll's explanation, which gave rise to

4240-406: The greater use of competition as a tool of policy, and expressing concern about excessive or inappropriate regulation of the economy. In 1983, Lange succeeded Rowling as Labour leader. He gave Douglas responsibility for economic policy and made it clear that economic policy would determine other policy. Although Douglas was innovative in his approach, and his open disregard for Rowling had earned him

4320-403: The ingredients is the head and the other is attributive. A porta-light is a portable light, not a 'light-emitting' or light portability; light is the head. A snobject is a snobbery-satisfying object and not an objective or other kind of snob; object is the head. As is also true for (conventional, non-blend) attributive compounds (among which bathroom , for example, is a kind of room, not

4400-685: The market results in manifest inequity, or poor economic performance, the Government must get involved." After Rogernomics, the New Zealand Labour Party was paralysed by infighting for much of their time in opposition, initially led by Mike Moore as leader of the Opposition (1990–1993). Moore was then followed by Helen Clark , whose first term as leader of the Opposition was undermined by those who opposed her leadership. Some later left to form their own political parties ACT ,

4480-458: The market solved what Douglas saw as the problem of interest-group participation in policy-making. Division in Labour over economic policy crystallised when a competing proposal was submitted to the Labour Party's Policy Council. Its proponents included Rowling and others who had resisted his replacement as leader. It argued for a Keynesian use of monetary and fiscal policy. It was sceptical about

4560-495: The morphemes or phonemes stay in the same position within the syllable. Some languages, like Japanese , encourage the shortening and merging of borrowed foreign words (as in gairaigo ), because they are long or difficult to pronounce in the target language. For example, karaoke , a combination of the Japanese word kara (meaning empty ) and the clipped form oke of the English loanword "orchestra" (J. ōkesutora , オーケストラ ),

4640-416: The number of refrigerators per 1000 people), or measurement of health such as life expectancy. It is the ease by which people living in a time or place are able to satisfy their needs and/or wants. There is also the biological standard of living, which pertains to how well the human biological organism fares in its socio-economic environment. It is often measured by the height of a population. The idea of

4720-495: The original "portmanteaus" for which this meaning of the word was created. In a partial blend, one entire word is concatenated with a splinter from another. Some linguists do not recognize these as blends. An entire word may be followed by a splinter: A splinter may be followed by an entire word: An entire word may replace part of another: These have also been called sandwich words, and classed among intercalative blends. (When two words are combined in their entirety,

4800-404: The previous government. New Zealand's leap into the neoliberal global economy exposed both businesses and the wider workforce to the unregulated practices of private capital – this led to a decade of insignificant (and sometimes negative) growth with the "economic miracle" being experienced by only a relatively small proportion of the population. With no restrictions on overseas money coming into

4880-475: The public anything to be elected. He 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. Unable to convince Rowling of the merit of his case, a disillusioned Douglas decided to stand down from parliament at the 1981 election . One of those who persuaded him to stay was Labour’s deputy leader David Lange , who offered to make Douglas minister of finance if Lange

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4960-477: The purposes of economics, politics and policy, it is usually compared across time or between groups defined by social, economic or geographical parameters. The right to an adequate standard of living is a fundamental human right . It is part of the Universal Declaration of Human Rights that was accepted by the General Assembly of the United Nations on December 10, 1948. Everyone has the right to

5040-490: The rest of the population, Rogernomics failed to deliver the higher standard of living promised by its advocates. Over 15 years, New Zealand's economy and social capital faced serious problems: the proliferation of food banks increased dramatically to an estimated 365 in 1994; the number of New Zealanders estimated to be living in poverty grew by at least 35% between 1989 and 1992 while child poverty doubled from 14% in 1982 to 29% in 1994. Those on low incomes failed to return to

5120-453: The result is considered a compound word rather than a blend. For example, bagpipe is a compound, not a blend, of bag and pipe. ) Morphologically, blends fall into two kinds: overlapping and non-overlapping . Overlapping blends are those for which the ingredients' consonants, vowels or even syllables overlap to some extent. The overlap can be of different kinds. These are also called haplologic blends. There may be an overlap that

5200-437: The same period in which the average OECD nation grew by 28.2%. From 1984 to 1993 inflation averaged 9% per year and New Zealand's credit rating dropped twice. Between 1986 and 1992, the unemployment rate rose from 3.6% to 11%. Rogernomics, however, has been credited with a number of other positive impacts on the New Zealand economy: inflation, which had reached a high of 17.15% in 1980, has been in single digits every year since

5280-525: The supposed baleful influence of international bankers, characterised as the " Gnomes of Zurich ". A 2015 Treasury report said that inequality in New Zealand increased in the 1980s and 1990s but has been stable for the last 20 years. However, another 2015 article reported that New Zealand's rate of rise of inequality had been the highest in the OECD, and that New Zealand's inequality had previously been low by OECD standards. Portmanteau In linguistics ,

5360-484: The then-common type of luggage , which opens into two equal parts: You see it's like a portmanteau—there are two meanings packed up into one word. In his introduction to his 1876 poem The Hunting of the Snark , Carroll again uses portmanteau when discussing lexical selection: Humpty Dumpty's theory, of two meanings packed into one word like a portmanteau, seems to me the right explanation for all. For instance, take

5440-462: The two words "fuming" and "furious". Make up your mind that you will say both words, but leave it unsettled which you will say first … if you have the rarest of gifts, a perfectly balanced mind, you will say "frumious". In then-contemporary English, a portmanteau was a suitcase that opened into two equal sections. According to the OED Online , a portmanteau is a "case or bag for carrying clothing and other belongings when travelling; (originally) one of

5520-406: The use of 'portmanteau' for such combinations, was: Humpty Dumpty's theory, of two meanings packed into one word like a portmanteau, seems to me the right explanation for all. For instance, take the two words "fuming" and "furious." Make up your mind that you will say both words ... you will say "frumious." The errors are based on similarity of meanings, rather than phonological similarities, and

5600-412: The value of "picking winners" and saw only a limited place for government funding of economic development. His colleague Stan Rodger described the paper as a "quite unacceptable leap to the right". It immediately polarised opinion in the Labour Party. Douglas characterised the policy package as restrained and responsible, and an appropriate response to the country's economic difficulties. He acknowledged

5680-542: The whole of the shorter ingredient, as in then the effect depends on orthography alone. (They are also called orthographic blends. ) An orthographic overlap need not also be phonological: For some linguists, an overlap is a condition for a blend. Non-overlapping blends (also called substitution blends) have no overlap, whether phonological or orthographic: Morphosemantically, blends fall into two kinds: attributive and coordinate . Attributive blends (also called syntactic or telescope blends) are those in which one of

5760-421: Was a key strategy for achieving radical economic change: "Define your objectives clearly, and move towards them in quantum leaps, otherwise the interest groups will have time to mobilise and drag you down". Political commentator Bruce Jesson argued that Douglas acted fast to achieve a complete economic revolution within one parliamentary term, in case he did not get a second chance. The reforms can be summarised as

5840-444: Was broadly worded, and it made no mention of devaluation. It anticipated some form of understanding between government and unions about wage restraint . It allowed for extensive consultation about economic policy and stated that necessary structural change would be gradual and agreed. When Muldoon unexpectedly called an early general election, the Labour Party adopted Palmer's paper as its economic policy. Lange said that Labour went into

5920-452: Was disestablished by Robert Muldoon almost as soon as the National Party won the 1975 election . Douglas maintained his interest in economic issues in opposition. He 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. In 1980, he described New Zealand as

6000-495: Was innovative in the context of the public sector . As Broadcasting Minister he devised an administrative structure in which two publicly owned television channels competed against each other. He 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. The superannuation scheme he helped design became law in 1974, but

6080-408: Was limited, into a country with a range of consumer goods available similar to those enjoyed by other western democracies. Douglas himself has claimed that the unwillingness of subsequent governments to alter any of his reforms is a testament to their quality. The policies of Ruth Richardson , sometimes called " Ruthanasia ", were a continuation of Rogernomics. Richardson served as Finance Minister in

6160-473: Was not part of Labour's election policy, the decisiveness with which the incoming government acted won it popular acclaim and enhanced Douglas's standing in the new cabinet. The reformers argued that the speed with which the reforms were made was due to the fact that New Zealand had not adjusted to Britain's abandonment of the empire, and had to move quickly to "catch up" with the rest of the world. Douglas claimed in his 1993 book Unfinished Business that speed

6240-414: Was prime minister after the 1984 election. After Labour's narrow loss in the 1981 election , Douglas found a growing audience in the parliamentary party for his view that Labour's established approach to economic policy was deficient. His colleague Mike Moore claimed that there was a public perception that Labour policy sought "to reward the lazy and defend bludgers". Douglas's case for a radical approach

6320-494: Was strengthened by the belief among many of his parliamentary colleagues that the economy's deep-seated problems could only be solved by extensive restructuring. It was understood that some restructuring must follow the Closer Economic Relations agreement with Australia, which took effect in 1981 and reduced barriers to trade between Australia and New Zealand. At the same time, many economists were arguing for

6400-439: Was tariff protection. The top marginal tax rate was halved over a number of years from 66% to 33%, and the standard rate was reduced from 42% in 1978 to 28% in 1988. To compensate, the variable sales taxes that had been in effect until then were replaced by a single Goods and Services Tax , initially set at 10%, later 12.5% (and eventually in 2011, 15%), and a surtax on superannuation, which had been made universal from age 60 by

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