AdamB wrote:Nothing can be duller than listening to an economist or other policy expert pontificate endlessly on such metrics as gross domestic product, stock market prices, employment, and consumer confidence. Most of all they talk about GDP: Rising GDP is good; falling GDP is bad. But as a measure of economic activity, GDP is what it says it is: a gross number. It doesn’t measure how money and wealth circulates through a system, what use it is put to, how the rewards of its use are distributed. It just counts how much comes out of the spigot at the end of the pipe. This completely avoids taking into account what may be the most important indicator of economic health: equality. Epidemiological studies demonstrate that equality is essential to a host of physical, mental, and social health outcomes. Societies that are more equal
When Economic Growth Indicates Failure
That is a nice set of rose colored glasses you have on there. In any economy, capitalist or socialist and all those in between or archaic there are winners and losers. The losers are never equal to the winners and to try to make them so always destroys the whole economy.