The opening episode traces the intellectual and personal journey that gave birth to the idea of "Competitive Urban Land Markets" (CLM). It follows Chris Parker’s path from his early attempt at NZIER to broaden traditional cost–benefit models so they could capture the transformative effects of infrastructure investment, to his move into Auckland Council as Chief Economist, where he began to see high land prices not as signs of prosperity but as symptoms of monopoly and institutional failure.
The conversation explores how Parker’s challenge to the “compact city” orthodoxy led to professional isolation, the coining of the term CLM to communicate publicly without triggering entrenched interests in rising property values, and the emergence of a small, dissident circle of urban economists that quietly germinated a new paradigm. Later, at the invitation of The New Zealand Treasury, Parker joined central government to help redesign the national urban planning system.
The CLM framing marked a decisive turning point, from confusion to conceptual clarity, about the real cause of unaffordability and, crucially, how to chart a new pathway out of it. What began as a local heresy would become a world-leading insight: a framework that leapt ahead of state-of-the-art academic thinking and is now shaping global urban policy. The episode culminates in the seminal Treasury “chew session” with then-Finance Minister Rt Hon Sir Bill English, who, grasping the paradigm shift, declared that “clarity is now emerging from the mists”—the moment New Zealand’s housing debate found a new compass.
Related links:
Read the supporting advice for the famous Treasury "chew session" with Rt Hon Sir Bill English here: https://www.treasury.govt.nz/sites/default/files/2019-01/oia-20180476.pdf
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The opening episode traces the intellectual and personal journey that gave birth to the idea of "Competitive Urban Land Markets" (CLM). It follows Chris Parker’s path from his early attempt at NZIER to broaden traditional cost–benefit models so they could capture the transformative effects of infrastructure investment, to his move into Auckland Council as Chief Economist, where he began to see high land prices not as signs of prosperity but as symptoms of monopoly and institutional failure.
The conversation explores how Parker’s challenge to the “compact city” orthodoxy led to professional isolation, the coining of the term CLM to communicate publicly without triggering entrenched interests in rising property values, and the emergence of a small, dissident circle of urban economists that quietly germinated a new paradigm. Later, at the invitation of The New Zealand Treasury, Parker joined central government to help redesign the national urban planning system.
The CLM framing marked a decisive turning point, from confusion to conceptual clarity, about the real cause of unaffordability and, crucially, how to chart a new pathway out of it. What began as a local heresy would become a world-leading insight: a framework that leapt ahead of state-of-the-art academic thinking and is now shaping global urban policy. The episode culminates in the seminal Treasury “chew session” with then-Finance Minister Rt Hon Sir Bill English, who, grasping the paradigm shift, declared that “clarity is now emerging from the mists”—the moment New Zealand’s housing debate found a new compass.
Related links:
Read the supporting advice for the famous Treasury "chew session" with Rt Hon Sir Bill English here: https://www.treasury.govt.nz/sites/default/files/2019-01/oia-20180476.pdf
In this episode, James talks to Craig Mellare and Abdul Razeed, senior lecturers at the University of Sydney Business School, about their empirical study on grade inflation in Australian higher education. They discuss findings showing that grades have risen significantly over the past decade despite no improvement in student ability, and explore the institutional pressures driving this phenomenon including student evaluation systems, time constraints on academic staff, and the need to manage student appeals and expectations.
The New Zealand Initiative
The opening episode traces the intellectual and personal journey that gave birth to the idea of "Competitive Urban Land Markets" (CLM). It follows Chris Parker’s path from his early attempt at NZIER to broaden traditional cost–benefit models so they could capture the transformative effects of infrastructure investment, to his move into Auckland Council as Chief Economist, where he began to see high land prices not as signs of prosperity but as symptoms of monopoly and institutional failure.
The conversation explores how Parker’s challenge to the “compact city” orthodoxy led to professional isolation, the coining of the term CLM to communicate publicly without triggering entrenched interests in rising property values, and the emergence of a small, dissident circle of urban economists that quietly germinated a new paradigm. Later, at the invitation of The New Zealand Treasury, Parker joined central government to help redesign the national urban planning system.
The CLM framing marked a decisive turning point, from confusion to conceptual clarity, about the real cause of unaffordability and, crucially, how to chart a new pathway out of it. What began as a local heresy would become a world-leading insight: a framework that leapt ahead of state-of-the-art academic thinking and is now shaping global urban policy. The episode culminates in the seminal Treasury “chew session” with then-Finance Minister Rt Hon Sir Bill English, who, grasping the paradigm shift, declared that “clarity is now emerging from the mists”—the moment New Zealand’s housing debate found a new compass.
Related links:
Read the supporting advice for the famous Treasury "chew session" with Rt Hon Sir Bill English here: https://www.treasury.govt.nz/sites/default/files/2019-01/oia-20180476.pdf
