On Mon, Sep 22, 2014 at 8:59 PM, Marv Gandall <[email protected]> wrote:
> > Aren’t we falling into the neoclassical trap where GDP growth is the > only metric of successful economic policy? > > Who has made that claim? We can agree that the metric which matters most > is the standard of living of the working class measured in the first > instance by the availability of well-paying and secure jobs, but we can > also agree that there is a correlation between that and economic growth. > But wait! Normally, we can certainly agree that there is a correlation between that (living standards) and economic growth, but Abenomics is just unorthodox enough that maybe we should question this correlation and not take it for granted. If you'd like to argue that Abenomics is a failure because it has failed to deliver improvement in living standards (as measured e.g. unemployment, underemployment, indebtedness, poverty, etc), I'd like to see that case made directly, rather than through an appeal to correlations with GDP growth. Per the article you cited, the results seem rather mixed. -raghu.
_______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
