From: Blunderov (squooker@mweb.co.za)
Date: Sat May 08 2004 - 02:20:57 MDT
[Blunderov] Now for something completely different. From SA New Economics
(SANE) sane@sane.org.za
Best Regards
<q>
New Economics Foundation introduces Measure of Domestic Progress
The NEF scored a huge press hit when all the national and many regional
daily papers in the UK picked up our Measure of Domestic Progress (MDP).
The MDP adjusts the conventional economic measure of GDP so that the costs
of crime and pollution and environmental degradation are subtractedb from
our measure of progress, to reflect the negative impact these things have on
quality of life. The MDP shows that social progress in Britain has become
increasingly decoupled from economic growth over the last 50 years and has
stalled completely in the last three decades, never regaining its 1976 peak.
The idea that 1976 was the best year for quality of life in Britain captured
the imagination of the media and we were treated to reflections on Abba, the
Sex Pistols, flares and polyester cardigans as well as the perilous state of
the pound and labour relations in that year. The Daily Mail, The Telegraph,
The Mirror, The Times, The Sun, The Express, The Guardian, The Independent,
and the Daily Record and Daily Star all ran articles along with many
regional papers. The BBC did a series of interviews across the UK and the
report appeared on the Channel 4 News, the BBC's PM programme as well as on
Ant and Dec's Saturday Night Takeaway, and Vanessa Feltz and Terry Wogan's
radio shows. The idea that we were better off, in terms of quality of life,
even though we had far less spending power and an uncertain financial
situation, is central to "new economics".
The MDP, which has struggled to grow at half the rate of GDP over the last
30 years, comes out much closer to measures of happiness and life
satisfaction that GDP does. GDP has driven politics in the UK and the
western world for the last 50 years or so, but the MDP asks the question
"what is all that economic growth FOR?", if it doesn't improve our
well-being?</q>
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