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These flashcards cover key concepts discussed in the lecture notes about economic history and reforms within New Zealand and their global context.
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Bretton Woods Conference
A 1944 meeting that established the International Bank for Reconstruction and Development and the International Monetary Fund.
Milton Friedman
An influential economist known for his critiques of government fiscal policy and advocacy for monetarism.
1984 Economic Reforms
A series of reforms in New Zealand aimed at liberalizing the economy by removing subsidies and market controls.
Great Depression
A major worldwide economic downturn in the 1930s that significantly affected global economies.
NZ dollar float
The decision in 1985 to allow the New Zealand dollar's value to be determined by the market without government intervention.
Keynesian Economics
An economic theory that advocates for government intervention to manage economic cycles, criticized by Friedman.
Neo-classical Economics
An economic approach emphasizing the importance of free markets and limited government intervention.
Inflation Control Policy
Implemented through the Reserve Bank Act to manage monetary supply and stabilize prices.
State Owned Enterprises (SOEs)
Government-owned corporations that were part of the reforms for efficiency and to decrease government expenditure.
Compulsory Union Membership
A labor policy abolished in 1990 to introduce flexibility in the labor market.