Modest growth in New Zealand is not the result of an overdose of reforms or bad cultural attitudes. The problem, in short, is that the reform process has not been completed, and needs to be continued and extended. Only by guaranteeing the free emergence, discovery and exploitation of profit opportunities can countries improve their growth prospects over time. Frederic Sautet outlines how, by making entrepreneurialism the focus of economic policy, the New Zealand economy can catch up with – and overtake – its more successful neighbours.

Dr Frederic Sautet is a Senior Research Fellow at the Mercatus Center at George Mason University.