Interesting R4 In Business last night
"
In the middle of a recession renewed economic growth is always considered the great panacea that will get us out of the mess we are in. However, is this really the way to tackle the problems of a finite world? Peter Day wonders if our reliance on growth is not a snare and a delusion.
"
http://www.bbc.co.uk/programmes/b00w228b (available on iPlayer)
@LaidBack -
"By the 1970s ... were judged to be 'wealthier'"
That's when the EU paid for new roads and houses to replace the traditional (easier to self-maintain, but probably not as nice to live in) traditional croft houses.
On Question Time last week GDP was mentioned. Paddy Ashdown said 'if you crash your car that gets added to GDP figures' (and a few other examples) - presumably meaning if people repaired or replaced.
"(Bartering being of no use to the Inland Revenue!)"
Yes that's the point - it's all about measurable transactions which involve money.
The GDP of 'poorer' countries doesn't include the (genuine) economic benefits of subsistence farming - i.e. food for families or communities to eat that doesn't get a market (literally) value calculated.