We measure GDP, or gross domestic product, like it actually means something. But NO. It is essentially meaningless.
A higher GDP does not necessarily mean more progress, success, or happiness.
An oil spill will result in more activity and drive GDP up. Oil spills are good for the economy, but they are not good for anything else.
What we should be measuring is GDH, or gross domestic happiness.
If we did we might find that for all our electronic gizmos, big houses, fancy cars and foreign vacations, we are no happier than we were before we had all that.
Perhaps less happy.
Who really lives in so-called "shit hole countries"?
Consumer nations should look in the mirror before attempts to honestly answer that question.
Amen. More doesn't always equal happier. More usually leaves us back at our usual level of happiness, once the dopamine rush wears off. Happy weekend, all! -Erin
ReplyDeleteWhile economics has some interesting ideas, it has no real evidence base. The fiat currency came from medieval England due to the influence of spirituality and abstract belief about other realms and was later replaced with gold reserve currency as science and materialism gained ground. Academic economics is a story of how class based societies justify wealth a measure worth and like cm or mm gives arbitrary value to everything on earth.
ReplyDeleteIn the UK the popularity of supply side fantasy economics is returning now the Tories have no idea how to solve the economic problems.
All the evidence suggests that a prosperous country has a small wealth gap, a strong welfare state, low rate of corruption, free university education etc. Basically the opposite to supply side mumbo jumbo.
BW
Alex