Greg Mankiw points me to Jeff Miron's excellent talk on the financial crisis. He eloquently makes the case for doing nothing. As Bryan Caplan would say, "Doing something hasn't worked. Isn't it time to give nothing a chance?" I know not how to embed the video here; follow the link above instead.
I haven't done a roundup of NZ policy in a while. That's mostly because nothing much has been happening as we wait for the budget to come out. It looks like some promised tax cuts will be put on hold, but it also looks like there's some chance that the worst part of former Finance Minister Michael Cullen's scuttling of the government's books might be cut: the Working for Families package. Stay tuned.