There is a small island country in which, in spite of their avowedly private market-oriented ideology, government leaders have directly involved themselves in negotiations with foreign film makers in order to keep production of a film series on the islands. The foreign studio bosses threaten to take their production elsewhere; the famous director–a local boy made good– fumes and blames union organisers for raising production costs (in a film that is mostly based on computer animation and special effects rather than humans acting, in a country where the local currency is less than 80 cents of the US dollar). Although the film production is no long-term investment and will not bring employment stability or trickle down benefits beyond those connected to its production and its purported positive impact on tourism (supposedly because foreign tourists will come to the islands to see a movie set called “Hobbitown” in which gnomes abound), the government agrees to offer the foreign studio bosses NZ$100 million in tax and marketing breaks and to change local employment law so that actors are classified as contractors rather than employees while working on feature films (should the law apply to all actors this could well extend to TV, stage and radio actors working on local productions as well).

Although the film industry is currently an significant source of revenue for the country and has spawned a considerable technological base associated with it, it does not add to the long-term national development growth of the island state. Compared to core national industry, it is much like a diamond in a coal mine–a source of pride and joy but not a basis for long-term prosperity.

All of which is to say: foreign corporate masters involved in an industry that does not add long-term value to a nation’s economy have managed to get the island country’s leaders to bow before them in order to secure short term economic gain for a small local industry with limited direct ancilliary impact and a more hypothetical than concete follow-on revenue generation effect. To do so, not only was money offered to appease the foreign masters. The basic law of the land was changed at their behest as well.

Since the country has been engaged in a long-term debate about changing its national flag and its status relative to its colonial master, perhaps it is time to also consider changing its name.

Bananazelandia. Say it with a Spanish, French or Portuguese accent and it just rolls off the tongue.