Article from 1995: If GDP is up, why is America down?

About GDP and inequality

“Top CEOs earn 250x times what people at the bottom earn”

“The GDP does not distinguish between bad and good economic activity – war, crime and environmental destruction all add to GDP” (if there is a oil spill and someone has to clean it up this adds to GDP)”

“A rising tide lifts all boats – if you are wealthy enough to have a boat”

What about a basic minimum income for all people and a limit to maximum income?

steady state economy: question growth is radical but here are three good reasons:

  • environmental
  • social
  • practical: Growth is the exception in world history – not the norm. Periods of growth only lasted around 20 years (above 2% per year)

“If you give people the opportunity – they do very interesting things with their time.”

“47% in Britain support the idea of a minimum income.”

reform in the financial system is needed.

About Dan O’Neil:

“We have forgotten that economic growth is just one means to an end – not an end in itself. But once we let go of our obsession with GDP we can focus on what really matters – the health of our societies and the ecosystems that contain them.”

My comment:

Thank you Dan for this excellent very inspiring speech with wisely chosen words – you give a lot of insights into the tragedies and stupidities of economics.

The problem is – again – that in order to pay back a loan with interest rates… you will have to have growth – so it’s again the way money is created (debt plus interest created money) that forces companies forming people to grow – no matter in evil or good direction.

Even if you are earning money in the most evil way – the banks don’t care how you pay back your loan.

Its mad – it’s crazy – it’s stupid – it’s self destructive – it is unsustainable – it’s a “stupid debt money game” … will there be ever a different game?

is mankind doomed to be stay stupid?

I don’t think so and we need to fight this. Or mankind will have no future.

Maybe another point that gives Elon Musk and Jeff Bezos motivation to go to Mars?

1 Comment

  1. from the madness of more – to the wisdom of enoufh – basic minimum income for all people and a maximum income – Growth and Inequality


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