Economic System

[Michael_Mayo]

This might be interesting:

hbs.edu/competitiveness/pdf/an-economy-doing-half-its-job.pdf

"In 2013–14, Harvard Business School (HBS) conducted
its third alumni survey on U.S. competitiveness. Our
report on the findings focuses on a troubling divergence
in the American economy: large and midsize firms
have rallied strongly from the Great Recession, and
highly skilled individuals are prospering. But middle-
and working-class citizens are struggling, as are
small businesses. We argue that such a divergence is
unsustainable, explore its root causes, and examine
actions that might mitigate it.

"Beyond a general assessment of the U.S. business
environment, the survey explored three areas of concern
where smarter approaches might improve the prospects
of the average American: the K–12 education system,
workplace skills, and transportation infrastructure.

“Cutting across these three areas, we see a need for
business leaders to act—to move from an opportunistic
patchwork of projects toward strategic, collaborative
efforts that make the average American productive
enough to command higher wages even in competitive
global labor markets.”

 

[ThomasJMullally]

The GDP figures will never be able to capture the value of the economy simply because it can’t capture the volume of goods and services that are created because not all of them are taxed, deducted, or adjusted. What’s the value of a home prepared meal? Where does that show up as income? How about the value of home grown vegetables that are harvested and consumed by the grower?

What’s the value of prayer? Where does that show up on the balance sheet?

Exactly! The overarching drive to sustain “growth” is backfiring, all around the globe. The measurements were always ludicrous. So how can US “development” experts in good conscience, foist off their logic and methods on the rest of the world. They have failed here!