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Gladwell's Line: America's Cup investment a smart move for New Zealand

2:02 AM Sat 30 Apr 2011 GMT

'Kiwi Magic, KZ-7&rsquo;s performance in the 1986 Louis Vuitton Cup helped set up the multi-billion dollar a year NZ marine industry' &copy Rolex/Daniel Forster

On the back of the Emirates Team NZ funding and America's Cup challenge announcement there has been a lot of media comment, most of it negative on whether NZ Economic Development should be investing in the New Zealand team. Most of this comment has been negative and ill-informed and comes off an 'eat the rich' mentality that pervades so much of what passes for media commentary in New Zealand on pretty well any topic. In New Zealand, earning more than the average wage makes you a 'high earner'; anyone who earns more than $100,000 per year is considered to be ...

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by Richard Gladwell

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