Posts Tagged ‘Washigton Post’

GDP As a Measure of Progress

June 26, 2019

This post is based on an article by Christine Emba titled “GDP isn’t the only measure of progress. Ask New Zealand.” HM disagrees with the title. It should be GDP is the wrong measure of progress and there is no need to ask New Zealand. Many Healthy Memory blog posts have made the point that GDP is the wrong measure of progress.

Ms. Emba begins her article with John Maynard Keynes prediction that by 2030 we would work only 15 hours a week. Economic growth would lift our standard of living four-to eightfold, and the everyday citizen could finally stop plugging away. She writes that Keynes leisure-time predictions have not yet come to pass, not because our standard of living hasn’t as a result of economic growth (in fact, his estimate was right on the mark), but because, even after life-enhancing rapid advances over almost a century, we’ve just carried on working. The United States is obsessed with ensuring continued economic grown like other modern nations, with the exception of New Zealand.

GDP is the standard toolbar evaluating a nation’s economy and growth as a shorthand for progress. Ms Emba writes, “…while the U.S. Economy may be strong, more money doesn’t necessarily mean more happiness—at least after a certain point. The economy has been on a hot streak for years, but that hasn’t neutralized deaths of despair, homelessness, or a creeping sense of anomie. New Zealand’s economy is healthy enough, but the country is still experiencing a suicide crisis.

Continued growth cannot be sustained forever. It is leading to a dead end. So New Zealand is changing course before this dead end is reached. Its Prime Minister Jacinta Ardern wrote in her introduction to the 2019 budget, “Growth alone does not lead to a great country. So it’s time to focus on those things that do.

The many preceding posts on Rushkoff’s book TEAM HUMAN documented how new technology is repeatedly used not for the overall benefit, but for the few who position themselves to benefit. He also made a compelling argument that we are moving to a disastrous dead end.

For the country, this decision must be made collectively by the entire nation. And citizens need to inform themselves on the issues rather than be manipulated by some demagogue.

Each individual must decide what will help them become better human beings. Buying new technology because it is new and one wants to be first, is wrong. That’s what leads to unhealthy addictions to smartphones, social media, and being constantly plugged in. The question needs to be asked as to why one is buying the technology considering the plusses and minuses of the technology. Practically everyone is aware of their monetary resources, but too many are apparently unaware of their limited attentional resources. Attentional resources, just as monetary resources, need to be spent wisely and not wasted.

Keeping up with the Joneses is moronic. One should not let one’s interests be defined by others, but rather identified and pursued for oneself. March to one’s own drummer rather than following the crowd. Pursue personal development and fulfillment via growth mindsets. Meditation can also assist in finding and pursuing desirable paths.

© Douglas Griffith and healthymemory.wordpress.com, 2019. Unauthorized use and/or duplication of this material without express and written permission from this blog’s author and/or owner is strictly prohibited. Excerpts and links may be used, provided that full and clear credit is given to Douglas Griffith and healthymemory.wordpress.com with appropriate and specific direction to the original content.