ABSTRACT
This chapter argues that the extreme mobility of capital and labour that characterizes the global economy will result in the emergence of new collectivities and the weakening of familiar groups in New Zealand. Existing notions of community in New Zealand are likely to be problematized by the new capital and migration flows which emerge. Before 1945, the development of capitalism in New Zealand had been based on pastoralism. Globalization of the New Zealand economy has led to dramatic changes in patterns of capital flows in and out of the country. In sum, New Zealand in the early 1990s has been transformed into a small open economy dominated by large-scale investors. Before 1945, the development of capitalism in New Zealand had been based on pastoralism. Economic liberalization and emphasis on a market-driven economy have forced New Zealand primary producers and manufacturers to compete internationally.
