Greenberg’s Law Of Economic Progress (and its corollary)
2011-07-25 | Filed Under Greenberg's Law of Economic Progress, SteveG's Posts |
Here is my new law:
Any measure of economic growth that counts progress as an increase in the total amount of wealth in the country while a large number of people are still unemployed is a faulty measure.
It may be hard to figure out the exact right measure. It is easier to figure out when a measure is wrong. I suppose a corollary to the above law would be:
Any measure of economic growth that counts progress as achieving full employment while decreasing everybody’s wealth to the poverty level is a faulty measure.
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