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Growth can be good if focused on humans

GDP doesn't measure level of economic activity or efficiency?

Editor, The News:

What does it mean when our political leaders constantly talk about ‘growing the economy?’

Usually a growing economy is measured by the Gross Domestic Product. If it goes up, we seem to be doing well.

However, the GDP is a very poor measurement of people’s well being. It only measures the level of economic activity, never the efficiency of the economy or the well-being of the people or the well-being of the environment.

It measures the good and the bad: if an oil spill occurs or a hurricane demolishes many homes, economic activity occurs, our economy grows.

An alternative measure of well being would be for example the Index of sustainable Economic Welfare, or Genuine Progress Indicator. It measures whether people are really better off.

We also hear about ‘jobs, jobs, jobs.’

Many jobs now are being ‘grown’ oversees, in out-sourcing to Bangladesh or Africa or China, in  factories with substandard social and health standards at less than subsistence wages.

How can we compete in an ever-downspiralling trend for cheaper goods?

What jobs do we want to grow?

I would think long-lasting, safe and well-paid jobs with benefits and retirement packages, not part-time, short contract jobs that do not feed a family or protect for the future.

Over decades, unions have safeguarded minimum wages and good working conditions, which raises the standard for all.

Does growing the economy mean more consumption? Buying more? Getting deeper into debt?

Continuing progress should not lead to ever-escalating levels of consumption, but to a society where improving productivity and technology would provide higher quality goods, better health and more leisure.

Growth has become a mantra that wants us to believe that everything is fine if we just get those GDP numbers up. It has no relationship to well being and genuine progress.

Growth can be good if it is focused on human beings and includes the preservation of the natural habitat that sustains us.

So far, however, we have mostly grown debt. Instead of growing the economy, we should grow the well-being of our people.

Maria Raynolds

Maple Ridge