Friday, May 11, 2012

European GDP Bashers

If GDP growth isn’t working for your cause, bash it. That’s why Nicolas Sarkozy, when heading France, thought the basis for calculating his country’s lagging GDP did not include enough of France’s recreational benefits. That is, the early retirement and short working hours that has reduced productivity that invites unemployment and is ruining the country.

But there are now financial advisers whose purpose really is to give excuses for faulty government administration performance. they’ve become gurus or apologists for the Keynesian governments who wish to spend their way to prosperity. Such as the present-day Greeks and the rest of their European friends.

Their story is now contrived so that there should be a measurement of “happiness.” I’m not sure how you can truly measure that. But a job can make you desperately need it. And that shows up in GDP, not some contrivance these folks are attempting to contrive. (See the Earl J. Weinreb NewsHole® comments.)











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