![]() Probability of success in life today too dependant on place of birth. Powerful countries agreed to the use of passports (afraid of spies, need to keep track of people's movements). After the start of WW1, an international conference in 1920. Let's use data to test another option that could end poverty => Open borders. Again, here the author mentions some existing indicators, but doesn't offer any solid alternative.) Yet we're sticking to a 20th century indicator. We have all the necessary tools to make more precise & detailed evaluations. There has never been so much available data about the state of individuals & corporations (and almost in real time). Climate change, inequality, automation => A new era needs new criterias. We face new challenges, different from post-war era. Kuznets himself warned in 1962 "Distinctions must be kept in mind between quantity and quality of growth” ![]() War = sense of urgency = it’s acceptable to borrow from the future, pollute the environment and go into debt. Presented as the ultimate scientifically efficient way to measure progress.Ģ0th century : Growing popularity of economists, statistics & math, bigger influence on policy making = the economy seen as a machine you can play with, adjust.īut GDP is only useful during war times (that's when it all started). Policymakers and media used it widely => became the agreed upon concept to estimate a nation's overall economic performance. His report to congress became a bestseller. The economist Kuznets laid the foundations of what would become the GDP. US president Hoover needed a global view of the economic state of the nation. But just a quantitative growth, didn't solve any of society's most pressing problems. The reconstruction efforts put Japan back on the path of growth. Doesn't consider qualitative criterias (inequality, child mortality, citizens health etc).Ģ011, Japan, The Sendai seaquake. Digitalisation & free products can even cause contraction of GDP (see Skype, WhatsApp in telecoms). Many flaws : black market activity & unpaid labor not considered. Author calls it "the capitalist road to communism". ![]() => "Poverty is not lack of character, it's a lack of cash".įrom right to left political spectrum, many experts agree with basic income. Study by World Bank shows that tobacco and alcohol consumption generally declined among 82% of the recipients. Majority of experiments using hard data prove that giving free money to poor people leads to successful outcomes.Ĭontrary to popular belief, didn't use it for alcohol or gambling or tobacco. Not only they won't cost society => now they will contribute to social life and pay taxes. Smartphone, dictionary, classes etc.ġ year later, 7 out of 13 had a home. => Each person had clear idea about their most urgent needs. No food stamps, no shelter => give them 3K pounds per month per person. New experiment : Put the choice in the hands of the poor. ![]() Used to cost 400K pounds per year in social services. ![]()
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