The entrepreneurial process involves a lot of trial and error.
The reason the economy won’t recover is that it’s very difficult for non-wealthy people to start the “trial” part of the process and New Zealand’s sick culture punishes the “error” part of the process far too much.
I’ve made my fair share of entrepreneurial mistakes, but the lesson I have drawn from them is that New Zealand is the worst place in the world to do business.
No one wants to talk about how the theory of how entrepreneurs can create new jobs runs completely counter to how the baby boomer elite have pulled the ladder up after themselves in many industries.
When wages are low, the cost of living is high and access to credit is difficult, we’re all getting the economy we deserve.
New Zealanders hate entrepreneurs. They hate people who stick their head above the parapet. They’re like crabs trying to stop the other crabs from climbing out of the barrel.
Entrepreneurial trial and error is the only way we can catch up with Australia. While there are definitely some Kiwis doing well and delivering great product or service innovations, we need literally thousands more of them.
Until the barriers to entry are lowered and rent seeking watered down, that’s not going to happen. And we’ll keep wondering why over 175,000 are spending the holidays unemployed.