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Already posted on Beating Harpernomics is easy: (Oldest first)
From: Susanne Shaw - Posted: 09-Apr-11 - 23:46
The GDP is an incredibly poor indication of a country's well-being. You can have a whole whack of economic "growth", but the people who actually do the heavy lifting may be dirt poor slaves. You can be sure that the psychopathic skanks at the top will take most. They don't care about the environment upon which every living thing depends.
Economic "growth" is undesirable on a finite planet. It's wasteful, needless and heedless. In Canada, we have migrant workers in our country, while before, workers could stay in their own towns or farming sections. We had local economies, which don't waste as much fuel and don't destroy families by having at least one parent perpetually absent.
A masters degree in economics means that the graduate has swallowed a whole whack of fairy tales and Friedmanical idiocy. Economists believe that wealth can be "created", instead of merely being exploited and transferred. A profit doesn't come out of thin air. Somebody or something and the environment pay for that profit.
Stanford needs to study more down-to-earth things, like biology, ecology and logic. He should study publicly owned and operated enterprises, and compare them to private enterprises where a profit has to be wrenched out of operations FIRST, and so no maintenance gets done. A few people take their obscene pay off the top, merely so they can be richer than God. They can't possibly spend it all! It's unequal and it's wasteful.
Stanford should have taken history (esp. labour and First Nation) and studied sustainability and environmental balance, instead of the BS of modern Economics. Then he wouldn't write about GDP/GNP and other crap. He'd realize we humans have overpopulated the world beyond its ability to provide. We're our own Ponzi scheme of an impissible goal of Economic Growth Forever.
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