Monetary reform, Policy, Politics, Social development

Our choice: wealth or GDP growth? It’s not the same.

Suppose you lived in a community where an old but well maintained bridge connected two river banks, enabling people and goods to move across. The bridge would represent a piece of community wealth, although its existence would only marginally impact the community’s ‘GDP’. Now suppose someone proposed to boost the community’s economic activity (GDP) by blowing up the bridge and building a new one. Continue reading

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