this post was submitted on 21 Mar 2024
1 points (100.0% liked)

Aotearoa / New Zealand

1641 readers
3 users here now

Kia ora and welcome to !newzealand, a place to share and discuss anything about Aotearoa in general

Rules:

FAQ ~ NZ Community List ~ Join Matrix chatroom

 

Banner image by Bernard Spragg

Got an idea for next month's banner?

founded 1 year ago
MODERATORS
[email protected]
[email protected]
1
New Zealand economy shrinks, country in technical recession (www.newshub.co.nz)
submitted 7 months ago by [email protected] to c/[email protected]
17 comments fedilink hide all child comments
 

Anybody who thinks the best way out of a recession is austerity measures needs to have their heads examined.

you are viewing a single comment's thread
view the rest of the comments
[–] [email protected] 0 points 7 months ago* (last edited 7 months ago) (1 children)

From Simon Kuznets, who invented GDP as a concept:

Economic welfare cannot be adequately measured unless the personal distribution of income is known. And no income measurement undertakes to estimate the reverse side of income, that is, the intensity and unpleasantness of effort going into the earning of income. The welfare of a nation can, therefore, scarcely be inferred from a measurement of national income as defined above.

If he can question it, then we certainly should instead of just accepting it because “we’ve always done it this way”.

[–] [email protected] 0 points 7 months ago

If he can question it, then we certainly should instead of just accepting it because “we’ve always done it this way”.

It's like you didn't read anything I wrote at all.