Posts Tagged ‘GDP’
Procrastination Is Important
* Finally, a job for which I am qualified: Chinese companies are temporarily hiring white men to pose as fake businessmen.
* You had me at “International Planet of the Apes comic covers.”
* You had me at anti-BP art.
* Given that GDP is an abstract metric with little relationship to the happiness of unhappiness of actual people, it’s no surprise to find that the BP oil spill will likely boost U.S. GDP.
* Science! Scientists are to map Ozzy Osbourne’s genetic code in a bid to find out how he is still alive after decades of drug and alcohol abuse. Via Facebook.
* And a book I will inevitably buy: The Best of Kim Stanley Robinson.
Climate Change vs. GDP
Nate Silver demolishes a new talking point that climate change will only reduce global GDP by 5% in one hundred years. Taking that very questionable assumption at face value, Nate writes:
Let’s see how much of the world we can destroy before getting to 5% of global GDP. The figures I’ll use are IMF estimates of 2008 GDP, for all countries bit Zimbabwe where the IMF did not publish a 2008 estimate and I use 2007 instead.
Zimbabwe, indeed, is the first country on the chopping block, whose 11.7 million greedy bastards consume a whole 0.0196 percent of the world’s output — a global low of just $55 per person. After that, we get to destroy Burundi, The Congo (the larger of the two Congos — the one that used to be called Zaire), Liberia, Guinea-Bissau, Eretrea, Malawai … do you really me to go through the whole list? You do? … Malwai, Ethopia, Sierra Leone, Niger, Afghanistan (big problem solved there), Togo, Guinea, Uganda, Madagascar, the Central African Republic, Nepal, Myanmar, Rwanda, Mozambique, Timor-Leste, the Gambia — we’ve only used 0.27 percent of GDP to this point, by the way — Bangladesh (which has 162 million people), Tanzania, Burkina Faso, Mali, Lesotho, Ghana, Haiti, Tajikistan, Comoros, Cambodia, Laos, Benin, Kenya, Chad, The Soloman Islands and Kyrgyzistan. Next up is India, which, while growing, still consumes only 2 percent of world GDP. Then Nicaragua, Uzbekistan, Vietnam, Mauritania, Pakistan (another problem solved), Senegal, São Tomé and Príncipe, Côte d’Ivoire, Zambia, Yemen, Cameroon, Djibouti, Papua New Guinea, Kiribati, Nigeria (another pretty big country — we’ve now got only about 1.4 points of GDP left), Guyana, the Sudan, Bolivia (our first foray into South America), Moldova, Honduras, the Philippines, Sra Lanka, Mongolia, Bhutan and Egypt.
At this point, we’ve used up 4.4 points of GDP. Indonesia is next on the list of lowest per-capita GDPs. But unfortunately we can’t quite fit them into the budget so we’ll spare them, opting instead for Vanauatu, Tonga, Paragua, Morocco, Syria, Swaziland, Samoa, Guatemala, Georgia (the country — not the place where they have Chik-Fil-A), the other Congo, and Iraq. Skipping China, we then get to Armenia, Jordan, Cape Verde, the Maldives — and another big bunch of skips follows here since we’re very low on budget — Fiji and finally Namibia. Collectively, these countries consume 4.99997 percent of the world’s GDP. There’s absolutely no budget left for anyone else — not even St. Vincent and the Grenadines, which would be a great band name, BTW.
So, we’ll have to settle for just these 81 countries, which collectively have a mere 2,865,623,000 people, or about 43 percent of the world’s population.
Late Night
Late night.
* ‘Our Phony Economy’: Why measuring GDP doesn’t tell us much of anything we need to know. In Harper’s, via MeFi.
The purpose of an economy is to meet human needs in such a way that life becomes in some respect richer and better in the process. It is not simply to produce a lot of stuff. Stuff is a means, not an end. Yet current modes of economic measurement focus almost entirely on means. For example, an automobile is productive if it produces transportation. But today we look only at the cars produced per hour worked. More cars can mean more traffic and therefore a transportation system that is less productive. The medical system is the same. The aim should be healthy people, not the sale of more medical services and drugs. Now, however, we assess the economic contribution of the medical system on the basis of treatments rather than results. Economists see nothing wrong with this. They see no problem that the medical system is expected to produce 30 to 40 percent of new jobs over the next thirty years. “We have to spend our money on something,” shrugged a Stanford economist to the New York Times. This is more insanity. Next we will be hearing about “disease-led recovery.” To stimulate the economy we will have to encourage people to be sick so that the economy can be well.
* Springfield Punx Simpsonizes celebrities and superheroes. At right: Tobias Fünke.
* Al Giordano says Tim Kaine is growing on him for VP.
The number one rule in choosing a vice presidential nominee is “first, do no harm.” If you’re a presidential nominee, you don’t want a running mate that will distract from you, commit gaffes, speak off-message, or that secretly thinks he or she is too good to be number two.
And the second rule is, “then, do some good.” You want a VP that will reinforce your messages and make voters more comfortable with you.
Kaine is so far passing both tests with flying colors.
I’m not there yet—as I’ve mentioned before, just about everything I hear about Kaine turns me off—but Al’s instincts have never steered me wrong. I guess we’ll see.
* What are the essential reads in literary fantasy? Personally I’d have to start my list with heavy-hitters from the twentieth century (and my bookshelf) like Kafka, Borges, García Márquez, and Calvino…
* Mission accomplished, corporations! Wal-Mart employee voluntarily enforces her entirely false belief that “copyright lasts forever.”
* And will Burn After Reading, the new Coen Brothers comedy, be the new greatest movie of all time? All signs point to yes:
Random Sunday Links
The formula for calculating GPI, for instance, starts with personal consumption expenditures, a major component of GDP, but makes several crucial adjustments. First, it accounts for income distribution. It then adds positive contributions that GDP ignores, such as the value of household and volunteer work. Finally, it subtracts things that are well-being-reducing, such as the loss of leisure time and the costs of crime, commuting and pollution.
While the U.S. GDP has steadily increased since 1950 (with the occasional recession), GPI peaked about 1975 and has been relatively flat or declining ever since. That’s consistent with life-satisfaction surveys, which also show flat or dropping scores over the last several decades.
* 95% of Native Americans are descended from six women who lived approximately 20,000 years ago.
* What we want from a Star Wars TV series, and what we don’t.