Thursday, 8 January 2009

Wealth, What's That?

Our politicians and economists are correlating the fact that GDP growth is equivalent to well being and wealth creation. How about if they got it wrong and have a total misunderstanding on that essential question?

One will say, hey you getting old fashion? you are not going to tell me that saying "when I was young life was better and family was important", do you?

Today is all about "what kind of car do you have", "Do you own a house?", "what's your salary", "I'm working very hard, but I have good responsibility", "I'm playing golf!" , "I have good networking connections" etc...

So how can you measure wealth? at least the European commission through the French presidency is going to the right direction:

"The Commission on the measurement of economic performance and social progress has been created at the beginning of 2008 on French government's initiative.

Increasing concerns have been raised since a long time about the adequacy of current measures of economic performance, in particular those based on GDP figures. Moreover, there are broader concerns about the relevance of these figures as measures of societal well-being, as well as measures of economic, environmental, and social sustainability."

Guess who is responsible to conduct those research? Mr Professor Joseph E. Stiglitz .

Alas, real competencies are back. Too long, people have been seen as numbers or "Consumers"...I suppose this is the model you are seeing around you being developped "the Jumbo, Iso Omena, Sello" etc... here is the recipe:

1-create a Mall
2-install there some Banks
3-surround the mall by habitations
4-add offices and gym
5-(Optional) build retirement houses
6-(Optional) move the Tax office department in the supermarket
7-make the mall investor rich
8-(mandatory) pass a law that says that housing should only be build near railway and highway not far (100m max) from a Mall -make some politicians "indirectly" shareholders since bribery is now not possible since 1 year ago.

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