Too Much Money

by Max Rashbrooke

Genres: Nonfiction

Unknown Binding

Reviews

[C · Rating 5 out of 5]

It's no great revelation that the idea of 'egalitarian New Zealand' is, and has always been, a bit of a myth. But the extent to which we're riven with unfairness and inequality is laid bare in the starkest terms here. The thrift and hard work that Kiwis still like to pretend are the means to success are becoming ever less adequate means to that end. Massive intergenerational advantage is locked in by tax and property laws, and an educational system, designed to benefit the best off. We are, as Picketty put it, very much an "inheritance society", where life chances are substantially dictated by the good sense to have chosen rich parents.

Some of this hit close to the bone, as Rashbrooke's takes aim not only at the obnoxious excesses of the Auckland mega-rich, but at the "Kelburn left", well-educated members of the professional-managerial class who wring our hands from our hilltop suburbs while being determined to pass on whatever advantages are available to our kids.

When it comes to suggesting solutions, Rashbrooke is fairly cautious, admitting that obviously fair measures like inheritance tax are politically unpalatable, being viewed as anathema by many New Zealanders. I fear he's probably right about that; many New Zealanders have imbibed US-conservative views on "death tax", and opposition to it seems deeply rooted, if almost entirely illogical. His proposals are modest, but history's long levers can result in major long-term shifts based on small changes now.

There are probably few surprises here for anyone who has been paying attention, but it's a massively important message and one that can't be repeated often enough. Rashbrooke makes a rock-solid case, and he writes well enough that what could at times be dry subject matter fairly zips along.

Well, he writes well with one tiny exception. It feels like a very petty point given the importance of the substance here, but he has one stylistic quirk that drives me nuts: the near-pathological aversion to first person pronouns. So "I did this" gets translated into "the present author did this." It's one of the things that render "academic writing" so stodgy and, frankly, weird to read. Whoever teaches that this is the "proper" way to write, would they please stop, while *this* present author still has enough teeth to grind??

[Steven · Rating 5 out of 5]

A deep, yet quick, explanation of problem of inequality in Aotearoa. Less detail on solutions than I would like, though I do concede that there are numerous straightforward changes which would help if we had the political will.
If you have read Max's previous works then this one says most of the same things as previous ones, just with fresh data, so you might consider skipping it.

Disclaimer: I know Max socially.

[Francesca Pashby]

Sadly blindingly obvious ... the rich are getting richer and the poor are getting poorer. A series of depressing facts with no likely solution, humans being what they are.

The one thing that always get me though, is why the poor often have so many children? But don't all shout at me about that one!

[Wilbur Townsend]

There're many good facts here. Possibly too many -- I think the author could have gone a little deeper with some of his ideas, or situated them within a more singular vision.

[Jacqueline Owens · Rating 4 out of 5]

Very thought-provoking and timely - deserves to be widely read.

[Tessa · Rating 5 out of 5]

Excellent. So well-written with the perfect amount of detail. I was expecting to know most of what was in here but I absolutely didn’t - Rashbrooke has a talent for presenting neat, concise information that just ~hits different~ to the general narrative. So cool to have NZ-specific information too, as this is a topic that I’m used to reading about being set in other countries but hardly ever here.
Overall - highly recommend to all kiwis (and others) even if you think you know a lot about inequality in NZ.