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Brexit proved our economy is broken, but our leaders still have no clue how to fix it | Aditya Chakrabortty | Opinion | The Guardian
It ultimately comes down to this: decades of privatisation, hammering unions and chucking billions at the housing market while stripping the welfare state has effectively ended any semblance of a national, redistributive economy in which a child born in Sunderland can expect to have similar life chances to one born in Surrey. Yet politicians remain fixated on mechanisms that no longer work adequately for those who actually depend on the economy. They obsess over GDP growth when the benefits of that are unequally shared between classes and regions. They boast about job creation when wages are still on the floor.
UK  economy  inequality  Brexit  CoetzeeRyan  OsborneGeorge  HammondPhilip  DuncanSmithIain  deindustrialisation  unemployment  privatisation  cuts  GDP  LegatumInstitute  dctagged  dc:creator=ChakraborttyAditya 
12 days ago by petej
GDP is no longer an accurate measure of economic progress. Here's why | World Economic Forum
A wealth measure that ignores natural capital, social cohesion and human wellbeing is worthless. Luckily, a new Canadian project has hit on an alternative.
15 days ago by barbaramaseda
Energy and Economic Growth | SpringerLink
Since the 1950s, at least, it has been clear that factors other than capital and labor must be responsible for most economic growth. Historical and anecdotal evidence suggests that the substitution...
eroi  growth  gdp  robert.ayres 
6 weeks ago by zesteur
From The Economist Espresso: Special measures: well-being is a flawed metric b/c “what you measure affects wha…
GDP  from twitter_favs
7 weeks ago by Vince

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