Muldoon National — Think Big, wage-price freeze, exchange crisis, snap-election collapse

Doctrine — stated goals and content

Muldoon's National government applied unusually interventionist, state-led economic policy during the OECD's transition toward liberalisation. Economic school: dirigiste Keynesian-plus — 'Think Big' state-led energy/industrial projects (Motunui synthetic fuel, Marsden Point expansion, Clyde Dam, NZ Steel Glenbrook) financed by overseas borrowing to target energy self-sufficiency post-oil-shocks; June 1982 wage-price freeze extended multiple times through 1984; 'carless days' (1979-80); extensive import licensing and multi-tier agricultural subsidies ('SMPs'). Left-right axis: nominally right (National Party) but economically centre-statist — in policy content closer to British Labour's Wilson-Callaghan era than to Thatcher. Popularity: 1975 election 47.6% (landslide over Labour), 1978 39.8% (won on seat-count despite losing popular vote), 1981 38.8% (again won on seats), 14 July 1984 snap election 35.9% losing sharply to Lange Labour (43%). Coherence: ideologically distinctive but financially unsustainable — current-account deficits, accelerating external debt, pre-election FX crisis (July 1984 constitutional crisis over devaluation) triggered Rogernomics liberalisation under successor government (already covered under nz_rogernomics_1984_1993).