Showing posts with label Genuine Progress Indicator. Show all posts
Showing posts with label Genuine Progress Indicator. Show all posts

Monday, 15 July 2013

BBC compliant in "economic growth" lie

The BBC just broadcast a TV news item on the reducing rate of economic growth -  a widely deployed euphemism for increase in GDP - in China. The preamble stated as fact that getting economic growth is a worldwide problem. Thus the whole item was based on the false premise that an increase in GDP is entirely desirable.

The New Scientist reported on the Genuine Progress Indicator -  a measurement that removes negative elemts from GDP. As the article puts it:

"[GDP as a] measure of prosperity fails to account for social factors and environmental costs. Oil spills and crime, for example, increase GDP because money must be spent on clean-up and replacement of lost goods, yet few would claim that they increase the general well-being of a state."