Whilst your plumbing runs smoothly most people tend to ignore how it works. But when things begin to go bump in the night or some pipe or other bursts and sends cascades of water into the flat downstairs, a passing interest in plumbing occurs. Every flatmate has an idea about how to solve the problem, not least those from downstairs. A plumber is ultimately contracted and deals with the problem. S/he will arrive and repair the pipes or whatever, be ploughed with cups of tea and may even clean the sink (if TV is any reflection of reality). Some flatmates will ask questions about the problem and depending on how serious it is will be able to deal with the pipes when they play up again.

Something similar seems to occur with the economy. During the post-war growth of the New Zealand economy nobody took too much notice of it. Exceptions were in 1950-51, 1957-58 and 1967-68, but those bumps in the night soon passed and we all continued on our merry way. However in the mid-70s several pipes have burst and we do not seem to be getting any new pipes installed at all. Indeed both Labour and National are just soldering the same old pipes together, rusty and corroded as they are, and leaving untouched to eventually drown those downstairs.

However I digress. The part of the process that interests me here is where every flatmate has a suggestion. In times of economic crisis many and various suggestions are put forward. Many people express interest in, and go to some lengths to acquire additional knowledge of the economy. Witness two recent TV programmes on economics, (maybe TV does bear some relation to reality after all).