Maybe. That’s what I’m getting at in my conclusions. The economic and consequent social model we have assumes that 2008 wasn’t as good as it was ever going to get and that we’ll see a return to growth and (soon) we’ll have a larger measured economy than we did in 2008.
There are certainly good reasons to move away from GDP as a metric of the performance of economy. (I am in this camp.)
There are also good reasons why one might not see continued economic growth as a good thing. (I am not in this camp. So far.)
But as one of the main reasons we obsess about economic growth is to avoid working out what to do with all the people who would not have a job if we didn’t have economic growth we probably need to be concerned if we aren’t going to see any before we’ve figured out what to do with (mainly) low skilled workers.
no subject
There are certainly good reasons to move away from GDP as a metric of the performance of economy. (I am in this camp.)
There are also good reasons why one might not see continued economic growth as a good thing. (I am not in this camp. So far.)
But as one of the main reasons we obsess about economic growth is to avoid working out what to do with all the people who would not have a job if we didn’t have economic growth we probably need to be concerned if we aren’t going to see any before we’ve figured out what to do with (mainly) low skilled workers.