Showing posts with label new economic indicators. Show all posts
Showing posts with label new economic indicators. Show all posts

January 04, 2008

That business growth should not be an end in itself is a worthy end in itself

Sir Sir Samuel Brittan is of course right when he reminds us that “Business growth is not an end in itself” January 4. What more pleasant for all of us to be able to retire in a sort of economic production equilibrium to enjoy the “other” offerings of life? But, for that to happen, there are at least two things we must do.

First we have to work real hard on our current distribution machinery since before the needs of all your citizens are satisfied, which might include even those of the other poor in the world, you would not be able to relax enough if you always had to be looking over your shoulder to see if someone is taking advantage of your bliss to grow away from you.

Second you need to send much better economic signals on where you find yourself, as I at least would not want to get stuck on a level that requires me accompany my wife when she goes out shopping at 5 am in the morning in one of those strange sales that the US economy seems to require. For a start I have often suggested that instead of only adding to the economic indicators we need to start resting some of its costs. For instance every time someone has to leave whatever he is doing in order to answer an uninvited call, offering you something he could do without, then you should automatically rest a couple of quid from your GDP.