Economic Growth: The Holy Grail, Or a Myth?

Economic growth. The holy grail of ensuring a prosperous society. Or is it, that, in the 21st century, increasingly economic growth could mean as few as just the wealthiest 1% get richer, while all others get poorer?

Economic Growth:

  • Is Economic Growth The Holy Grail, Or Is Its Desirability A Myth?
  • Two sources of myth
    • GDP vs GDP per capita.
      • Why not use GDP per capita?
    • Uneven Wealth Distribution
      • Economic Growth for an Exclusive Group
  • Economic Indicators: What do they really measure?
    • Result: A Misleading Statistic
    • The True Goals of Economic indicators.
    • The GDP vs GDP Per Capita
  • Why Use Finance Industry Metrics for ‘Recession’ & ‘Prosperity’?
    • they have worked sometimes in the past
    • they are by the experts (even if wrong experts)
    • they ‘feel right’ for governments
  • Population Growth and Economic Growth
  • Conclusion: Let Them Eat Cake?
Continue reading “Economic Growth: The Holy Grail, Or a Myth?”

Wealth Inequality: Who wants More Inequality?

The Wikipedia article on Wealth inequality in the United States describes wealth inequality as a problem almost every would like to see reduced. Yet wealth inequality is increasing, not decreasing. What gives? Is humanity unable to address this problem? Or is will to address the problem not as universal at it might appear? Either consensus for action to decrease wealth inequality in not sufficient to stop the increase, or alternatively, there are forces actively working against this ‘consensus’, which means it is not actually a complete consensus. Are there dissenters working (and succeeding) to increase wealth inequality? This post is looks at the question: Who wants wealth inequality to increase?

Continue reading “Wealth Inequality: Who wants More Inequality?”

The New Economics of Population Growth in a Finite world

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Summary: Most of us now live under ‘finite world economics’, where population growth results in a smaller share of wealth for each individual and the majority of the population, but increased revenues for Governments, nationwide businesses and multinationals who gain revenue from the entire population.  The rich win, the rest suffer.

The now finite World

When Christopher Columbus set sail for America, no one had a world map, doubt about a map the included America.  When Captain Cook ‘discovered’ Australia, as it approached the year 1800,  no civilization knew where all the land on Earth was located.  By 1900, humans knew where all the land was, but still had not explored all that land. Now (2017 at the time of writing), we basically know where all the land is and have even allocated ownership and mineral rights of all the land. Our world is now finite.

The post explores the ‘finite’ world concept, then discuss each of the two dynamics resulting in the widening of the gap between rich and poor.

Continue reading “The New Economics of Population Growth in a Finite world”

How the ‘basic income’ proposal could change society

The current wealth distribution system is an already a broken system about to face severe attack. As discussed in Robots & Job Terminators, the role of employment is set to change.

canada20flagflagbigfinlandOn engadget, the post How will you survive when the robots take your job? outlines the ‘basic income’ proposal, as put forward by many in the tech industry and being experimented with in Canada, Finland and the Netherlands. This articles provides a great starting point and conveys the basic idea and if unfamiliar with the idea it makes sense to read that article first. This post is about looking further, in terms of thoughts about what else should change if a ‘basic income’ is introduced and what would be needed to make such an idea work. What would such a measure cost, and what would be the impact on society of a total package, of a ‘basic income’ together with a logical set of policies to create a total package? Continue reading “How the ‘basic income’ proposal could change society”

Australian Record Trade Surplus: good news, or a warning on automation?

skitched20truckAs explained by ‘Alan Kohler’ of the ABC, the record trade surplus is largely due to “A huge rebound in iron ore, coal and gold exports delivers a record trade surplus of $3.5 billion in December, providing a big boost to national income.”, with no proportional increase in imports.

I suggest an analysis of the impact on the Australian economy is reason for people around the world to consider the impact of automation.

Continue reading “Australian Record Trade Surplus: good news, or a warning on automation?”

Highlander Economics: Does it end with only one?

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from IMDB

Back in 1986, the movie Highlander was released. It was actually sufficiently successful to inspire four sequels, plus spin offs and even a reboot. Something in the original clearly stuck a chord, and the tagline and concept ‘in the end there can only be one’  could be part of this.  The plot centres around a small group of individuals, immortals, who become ever stronger by defeating ‘competitor’ immortals in mortal combat.  The immortals all seem have a share of power. Defeat another immortal and grow stronger as the victors gain the power of the vanquished, until only one immortal remains, and the one remaining will hold all the power.  So how closely does the ‘rules’ of the highlander actually match the ‘rules’ for competitor companies?

How accurate is the analogy? Continue reading “Highlander Economics: Does it end with only one?”

Trickle up economics: How the wealthy become wealthy.

pot_gold

It was a reference to the wonderful children’s and politician’s fairy tale of ‘trickle down economics’ that started me on this thought path. How do the wealthy get wealthy?

Continue reading “Trickle up economics: How the wealthy become wealthy.”

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