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Could a government dare to set out with happiness as its goal? Now that there are accepted scientific proofs, it would be easy to audit the progress of national happiness annually, just as we monitor money and GDP.
Slow growth and inflation have a tendency to accompany large deficits and increasing debt as a percentage of GDP.
Britain is a textbook case of how growing inequality leads to economic crisis. The years before the crash were marked by a sharp rise in remortgaging and the growth of 0 percent balance transfer credit cards. By 2008 the UK had the highest ratio of household debt to GDP of any major economy.
I find Maersk fascinating. It is the Coca-Cola of freight with none of the fame. Its parent company, A. P. Moller-Maersk, is Denmark's largest company, its sales equal to 20 percent of Denmark's GDP; its ships use more oil than the entire nation.
Entitlements seem to grow with prosperity; not only because they are indexed to inflation or GDP, but also because a prosperous country tells itself it can afford more benefits.
Global warming could be solved by shifting three to four per cent of global GDP to pay for it.
For most of human history, the main goal of states has been to conquer land and to achieve glory for their rulers, usually at others' expense. Then in recent decades it was all about GDP. It's only in very recent history that rulers have been willing to commit themselves to helping their citizens live happier lives.
In the last 5 years, American employers have lost over $150 billion of productivity to depression alone. That is more than the GDP of 28 different States during the same period.
Yes. We do think that the stimulus package is raising GDP and raising employment relative to what would have happened otherwise.
All of our competitors around the world, every country is investing more in infrastructure as a percentage of their GDP than we are. And down the road our children and grandchildren will have to compete with that more and more.