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Just growing the economy (as "economy" is currently defined) may well leave people less happy, with less access to services and infrastructure because the gover
by HillaryBriss 10y ago
Just growing the economy (as "economy" is currently defined) may well leave people less happy, with less access to services and infrastructure because the government has failed to keep up.
Just being in a "larger economy" may mean each person is burdened with more air pollution (e.g. China and India) and more crowded conditions than when the economy was smaller, while reducing access to various natural attractions (e.g. beaches, forests, open spaces).
Where are the economic models that take these sorts of economic costs to people into account?
I'm often surprised so many people are persuaded to embrace various policy positions by general statements to the effect of "studies say this increases GDP."
As in the old saying "War is much too important to be left up to the generals", it seems the economy is too important to be left up to the economists.
- pfranz 10y agoIf they chose to expand the road, the assumption is that they considered the obvious cons (displacement during construction, cost of land and labor for construction, added pollution and noise, change in demographics, etc) and were hoping for the obvious pros (reducing traffic). I always hear people quick to say it won't reduce traffic, but I never hear alternatives that are proven to work. By dismissing expanding a road over that one thing, they also seem to dismiss the other pros (I mentioned possible gains in economic throughput) and the cost of inaction.