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economic growth
huudi
Posted: 26 October 2010 19:26:40(UTC)
#11

Joined: 11/06/2010(UTC)
Posts: 266

Thanks Debbie.
As mike says growth creates wealth but only for a few. ~95% of the population have been kept comfortable with state benefits and debt, there are many chidren who know that money comes from the shop(Post office), this is ingrained and no matter what the government intends, there will be no change. So growth has made ~5% very rich and the rest have a false wealthy lifestyle which has been paid for by bringing the country close to bankruptcy. Nice one Gordon!
Whatever the measurement of growth is we must remember that Gordon was renowned for cooking the books and I expect little change. The figures are good today, this is runup to xmas, stockmarkets boom from September to January to give an excuse for megabonus, but after that?
PensionsManager
Posted: 26 October 2010 21:44:12(UTC)
#12

Joined: 20/08/2009(UTC)
Posts: 18

Growth in excess of inflation must imply more production, more wealth, which should be taxed for the greater good, but inevitably it has made the rich richer to a certain extent.

Companies and other organisations receive questionnaires on a regular basis and these together with other metrics are fed into a computer which then comes up with a figure for growth (or contraction). It's not perfect but if done consistently should provide a trend.

Yes it would be nice to live in a tree house and grow your own vegetables. Life doesn't get any better the faster you live it, but I was trying to answer a couple of questions - I wasn't actually saying anything political or whether I agreed or disagreed. I just pay pensions to people that have retired from my company that delivers goods to shops. Although it's nice to have more things to deliver than fewer - and population growth must have an impact, but it's not the main cause. It's greater productivity mainly.
huudi
Posted: 26 October 2010 22:56:41(UTC)
#13

Joined: 11/06/2010(UTC)
Posts: 266

So "economic" growth is productivity, but more produce must go to more people and as we have a foreign trade deficit then those extra bodies are in the UK. There are of course many who buy more than they need, if this is a major factor then "economic" growth simply means waste, landfill and gluttony. Not something to boast about.
On the other hand if economic growth is financial then this often due to poorer quality. Fruit & veg from the majors is now so tasteless as to be inedible. This is due to hydroponics, yet much of these foods are labeled "organic". Feeding plants on water may be organic but there is almost total loss of nutrition and flavour.
There we have it, "economic growth" is defined as waste, greed and falling standards, not desirable unless you are in the few that profit from it. This subject reminds me of weird song lyrics from the hippy days ie: everybody claimed to understand them but ultimately nobody did, not even the writer. I'll be interested in what Debbie has to say.
Deborah Hyde (Citywire)
Posted: 27 October 2010 16:28:59(UTC)
#14

Joined: 10/06/2010(UTC)
Posts: 36

Hi folks,

I've put down some thoughts on economic growth here:

http://www.citywire.co.u...-money-latest-news-list

Deborah
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