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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