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:
- 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.”
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?