GDP doesn’t make us happy. Economics denies the enjoyment we get from stuff that is free: sunsets, conversation, going for a walk.

“Judging progress by GDP is like judging an orchestra by how loud it is.”
Continue reading GDP?

Krugman – what’s wrong with economics

I studied economics.  Then I worked at Treasury.  So I should know about economics.  But instead I find it confusing.

There are two types of things I find confusing, normally.  One: things that are complicated.  The other: things that don’t make sense.

Fortunately, Paul Krugman has just written an article in the New York Times which confirms what I hoped.  Turns out large parts of economics don’t make sense! Krugman has good evidence for how ridiculous some economic theory is, in the form of the financial and economic crises we’re having.

This makes me feel heaps better about not getting it. The article goes through some of the biggest, dumbest ideas in contemporary economics and calmly explodes them. Continue reading Krugman – what’s wrong with economics