Chris Trotter discusses historical inflation and wage policies in New Zealand

Chris Trotter commented on the historical inflationary spiral in New Zealand during the early 1980s, referencing the industrial award-based wage bargaining system. He recounted a personal experience from 1985 to illustrate the extremity of inflation, noting that a 14 percent wage increase was considered low compared to the 16 percent increase achieved by other workers at the time. The discussion aimed to put the historical context of inflation into perspective.

The commentary provides historical context regarding New Zealand's past economic challenges, specifically the relationship between wage increases and high inflation rates in the early 1980s. This historical perspective relates to the mechanisms of state-mediated wage bargaining.