Looks like the EU doesn't believe in 'trickle down'
Or, indeed, getting basic facts straight. The 'borough of Bethnal Green?'
And while bashing the 'anglo-saxon' model - which does not 'redistribute wealth' the way euro commissars would like, it prays in aid Richard Layard, a Labour Lord, and one David Vardy, a Canadian academic.
And ends "GDP is a good way of measuring production but there's an increasing consensus that new tools are needed for calculating progress, well being and our ecological footprint on the planet...take into account social, environmental and economic progress...more and more people are coming to the conclusion that it's not just the quantity of growth that's important, but also its quality".
Not exactly a bloodless piece of civil servant-ese, is it? What is social progress? Who defines it? As I was suggesting the other day, I think whatever the new formula cooked up is called, it is really about finding a way that will make the EU look better than other OECD economies.
And I'll leave the last word to Hume: "If we take in our hand any volume; of divinity or school metaphysics, for instance; let us ask, Does it contain any abstract reasoning concerning quantity or number? No. Does it contain any experimental reasoning concerning matter of fact and existence? No. Commit it then to the flames: for it can contain nothing but sophistry and illusion".
And while bashing the 'anglo-saxon' model - which does not 'redistribute wealth' the way euro commissars would like, it prays in aid Richard Layard, a Labour Lord, and one David Vardy, a Canadian academic.
And ends "GDP is a good way of measuring production but there's an increasing consensus that new tools are needed for calculating progress, well being and our ecological footprint on the planet...take into account social, environmental and economic progress...more and more people are coming to the conclusion that it's not just the quantity of growth that's important, but also its quality".
Not exactly a bloodless piece of civil servant-ese, is it? What is social progress? Who defines it? As I was suggesting the other day, I think whatever the new formula cooked up is called, it is really about finding a way that will make the EU look better than other OECD economies.
And I'll leave the last word to Hume: "If we take in our hand any volume; of divinity or school metaphysics, for instance; let us ask, Does it contain any abstract reasoning concerning quantity or number? No. Does it contain any experimental reasoning concerning matter of fact and existence? No. Commit it then to the flames: for it can contain nothing but sophistry and illusion".
Labels: EU fun and games, Sane economics
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on Friday, November 23, 2007 at 11:04 am.
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It's quite simple. We could reduce inequality and our ecological footprint to zero in one fell swoop.
This is exactly what the socialists want. It worked in Cambodia why wouldn't it work in Europe?
This stupid video and the ideas behind it are already partially "solved", so no need to continue funding for the EU organ pushing this.
There are numerous surveys and measures published that, when taken with GDP and GDP per head and the growth rates thereof, give you an indication of how a country is faring. (Household Labourforce Survey, Savings rates, satisfaction surveys, BigMac Index, environmental surveys, crime stats, education attainment measures, etc)
I like the working person (cab driver?) the vacuous twit gets a lot of his custom from the “rich”. And about things getting worse? Well, he’s right of course, “his” gummint have taxed him more and thrown it at a broken health system. Meanwhile the “rich” have bitten the bullet and got private medical insurance…
The commentary on this facile piece of collective unconnected non-sequitors tells us that in Bethnal Green there are a number of families "with one parent out of work" in a tone of righteous condemnation. This is doubtless true throughout the world. But, I wonder, does this mean that the EU boffins think it is a bad idea to have a mother at home full time looking after her kids and family? Her GDP contribution may not be accurately measurable by those with the calculators, but it is nonetheless vital - and probably immeasurable - to her immediate family's well-being. And as for the over-fishing example, thanks to the EU quota system which regulates the amount of fish which one can land (not, note, catch) there is huge wastage as the extra fish caught is dumped (dead) back over the side before the ship returns to port. This lunacy is not helping is it?
Back to my knitting for a bit, then a nice bit of smoked haddock for dinner.
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