And anyone else who fancies themselves in the world of economics?
I would like answers in laymans terms to the following questions
1) Is the answer to economic growth immigration? Don't they just create more competition in the labour market or is their always a shortage of skilled labour? There doesn't seem to be a shortage when I am looking for marketing jobs. What are some of the issues here. Please no answers on the impact of immigration on the social and demographic composition of your country - just want the economic impact.
2) If I start up a company today selling a product that already exists in New Zealand. Will NZ's GDP grow or will I just be taking sales away from my competition or other substitute products (wouldn't the consumers money just be spent on something else if I wasn't around?) Is this question clear? I am asking asking whether a new business creates net growth for a country.
3) Lastly the last company I worked for in Canada wanted to outsource its call centre to the Phillipines or at least some of its calls. Does outsourcing just result in a loss of jobs in the country or because the company can then lower its prices to customers does the cost of living go down and this makes up for it? Personally I am not sure about this as I think most companies who outsource just keep the profits for its investors.