faith’s Reviews > Good Economics for Hard Times: Better Answers to Our Biggest Problems > Status Update
faith
is 32% done
not @ how there's a measurement for "stuff we don't know" (total factor productivity)
notes/questions for myself: is happiness a good thing to measure - especially considering how the "value" one derives from something can be changed according to shifting beliefs etc (utility is quite a nebulous idea ngl)? and why is everyone so obsessed with economic growth (is it an unmitigated good)?
— Dec 28, 2021 08:45PM
notes/questions for myself: is happiness a good thing to measure - especially considering how the "value" one derives from something can be changed according to shifting beliefs etc (utility is quite a nebulous idea ngl)? and why is everyone so obsessed with economic growth (is it an unmitigated good)?
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faith’s Previous Updates
faith
is 42% done
"For the world of policy makers, this perspective suggests that a clear focus on wellbeing of poor offers the possibility of transforming millions of lives much more profoundly than we could by finding the recipe to increase growth from 2 percent to 2.3 percent in the rich countries."
— Dec 31, 2021 03:57AM
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feifei
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Dec 29, 2021 07:04AM
@ economic growth: the developmental geographers’ perspective is that economic growth is generally the main impetus for social growth — the assumption is that richer citizens (in terms of GNP/GDP per capita) = more tax = more social infrastructure. however by around the late 1980s-1990 (when the first human development report was published), most developmental scholars reached the consensus that economic growth is only useful ‘to a certain extent’; instead of measuring ‘utility’ (more specifically, TOTAL utility), the ‘capabilities’ approach was adopted. that is, for there to be human development, humans must both have more capability to live a better life and also have the ability to utilise those capabilities. income is one of the means to enable people to have better lives, but the people are now seen as the ends—and that’s also what led to the formulation of the human development index which includes social indicators (literacy, health) in addition to income.
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