Tag: "GDP"

What is the point of GDP?20th May 2013

You can’t beat exposure to free-thinkers. My free-thinking week started with the pleasure of a speech and chat with the straight-talking Ruth Lea of Arbuthnot, and ended with the MoneyWeek Conference. But first, one of those sit bolt-upright moments, as I also bumped into an acquaintance who, in a few short words, encapsulated all that is wrong with our economic system: Soon to retire, he pointed out that after many decades of hard work (as a respected professional in the regions) he has

Lemmings and the Cliff: The false obsession with GDP8th January 2013

What a start to 2013! In the United States days were extended to fit political need, so that those looking to “sustain growth” could rejoice in the half-baked fiscal fudge that’ll last for a couple of months at best. In the UK doomsters have proclaimed that weakness in the service sector will undoubtedly lead to a “triple-dip” recession. Just think how many months of joy the media will have speculating and almost celebrating if that comes to pass! Governments and established media