Multicultural New ZealandBuilding a Resilient Future: Insights from the MNZ Socioeconomics Webinar
On March 5, 2025, Multicultural New Zealand hosted a webinar on socioeconomics and equitable practices in Aotearoa New Zealand. We were privileged to be joined by renowned economist and former Productivity Commissioner Dr. Ganesh Nana, who shared his wisdom on the current economic landscape and the importance of integrating socioeconomic considerations into community safety and development.
Dr. Nana began by acknowledging Māori as tangata whenua, the rich diversity of the Aotearoa New Zealand population, and our collective responsibility to build a better future. He emphasised that socioeconomics is not just about dollars and cents but about people, communities, and the resources we inherit and pass on. He highlighted the need for a shift from individualistic economic models to more collective and community-focused approaches.
Dr. Nana painted a sobering picture of the global economic environment, marked by environmental, geopolitical, societal, and technological risks. He pointed out that many business leaders fail to recognise the economic implications of these risks, often viewing them as external issues. He stressed that these challenges are deeply intertwined with economic systems and must be addressed collectively.
Focusing on Aotearoa New Zealand, Dr. Nana discussed the end of the "glory days" and the need for difficult decisions to ensure a sustainable future. He highlighted the issue of intergenerational equity, where younger generations struggle to find opportunities and resources that previous generations enjoyed. Climate change, workforce development, and infrastructure investment were identified as critical areas requiring urgent attention.
A key theme of Dr. Nana's presentation was the distinction between economics and finance. He argued that true economics is about real resources - land, people, knowledge, and community structures - rather than just financial metrics. He criticised the narrow focus on financial growth and emphasised the need for investments that enhance long-term productivity and community well-being.
Dr. Nana addressed the common misconception that government debt is the primary economic issue. Instead, he pointed to the importance of external debt and the need for investments in infrastructure, education, and healthcare. He called for a more holistic approach to economic policy, one that prioritises the well-being of future generations over short-term financial gains.
One of the most compelling parts of the webinar was the discussion on integrating indigenous economic models into Aotearoa New Zealand's broader economic system. Dr. Nana highlighted the value of collective ownership and long-term planning inherent in the economic practices of tangata whenua, suggesting that these models could provide valuable insights for creating a more equitable and sustainable economy.
This webinar provided a thought-provoking exploration of the challenges and opportunities facing Aotearoa New Zealand's economy. Dr. Nana's insights underscore the importance of shifting our economic focus from short-term financial gains to long-term community well-being. By embracing collective approaches and integrating indigenous economic models, Aotearoa New Zealand can build a resilient and equitable future for all its people.
A full recording of the webinar can be found here: