• The trouble with GDP

    From jmschristophers@gmail.com@3:770/3 to All on Friday, November 10, 2017 13:13:54
    During his thankfully brief chief-stewardship of a directionless satrap economy
    bogged down in its own self-inflicted stagnation, scarcely a day went by without Bill English delivering his coochie-coo economic rhetoric, vaunting as he did so his slyly
    selective GDP numbers.

    Tellingly, he also never once thought to come clean and raise the economically crucial matter of New Zealand's decades-long under-performing per-capita productivity. Or perhaps he actually did think of it, but then that would only
    have been to wipe away
    his foggy little GDP mirage to expose the inconvenient truth that dare not speak its name.

    So here's a rather more educated and less calculatedly myopic view of the way things really are in the early 21st century; and how any assessment of a nation's true wellbeing can no longer be measured solely in terms of its dutiful exporting of
    transnational's profits (i.e. New Zealand's satrap syndrome), or the zero-productivity practice of, say, wealth exchange through the coarse venality
    of money-for-nothing speculation.

    https://www.economist.com/news/briefing/21697845-gross-domestic-product-gdp-increasingly-poor-measure-prosperity-it-not-even

    --- SoupGate-Win32 v1.05
    * Origin: Agency HUB, Dunedin - New Zealand | Fido<>Usenet Gateway (3:770/3)