“Creative destruction can apply to economic concepts as well. And this downturn offers an excellent opportunity to get rid of one that has long outlived its usefulness: gross domestic product. G. D. P. is one measure of national income, of how much wealth Americans make, and it’s a deeply foolish indicator of how the economy is doing. It ought to join buggy.”

— Eric Zencey

Eric Zencey, in G.D.P. R.I.P. http://www.nytimes.com/2009/08/10/opinion/10zencey.html?pagewanted=all&_r=0, The New York Times, 9 August 9, 2009

Adopted from Wikiquote. Last update June 3, 2021. History

Help us to complete the source, original and additional information

Do you have more details about the quote "Creative destruction can apply to economic concepts as well. And this downturn offers an excellent opportunity to get r…" by Eric Zencey?

Eric Zencey3

American writer 1953–2019

Related quotes

“Economics was like psychology, a pseudoscience trying to hide that fact with intense theoretical hyperelaboration. And gross domestic product was one of those unfortunate measurement concepts, like inches or the British thermal unit, that ought to have been retired long before.”

Kim Stanley Robinson (1952) American science fiction writer

Source: Blue Mars (1996), Chapter 2, “Areophany” (p. 80)

“The wealth of a soul is measured by how much it can feel… its poverty by how little.”

Sherrilyn Kenyon (1965) Novelist

Source: Invincible

“Whatever pain you can't get rid of, make it your creative offering.”

Susan Cain book Bittersweet

Bittersweet, Chapter 3 at p. 56

“The problem with trying to measure productivity is that it measures only how well people can do the wrong jobs. Any job that can be measured for productivity probably should be eliminated from the list of jobs that people do.”

Kevin Kelly (1952) American author and editor

Out of Control: The New Biology of Machines, Social Systems and the Economic World (1995), New Rules for the New Economy: 10 Radical Strategies for a Connected World (1999)

“Demagogues always do well in economic downturns.”

John Avlon (1973) American journalist

Glenn Beck and the History of Americas Worst Demagogues, September 2, 2010, The Daily Beast http://www.thedailybeast.com/articles/2010/09/02/glenn-beck-and-the-history-of-americas-worst-demagogues.html?cid=tag:all2,

“We have an economy where we steal the future, sell it in the present, and call it GDP [gross domestic product].”

Paul Hawken (1946) American environmentalist

Paul Hawken Top 10 Myths About Sustainability http://www.mindfully.org/Sustainability/2009/Myths-About-Sustainability9mar09.htm at mindfully.org, 2009.

“McKinsey and Company has a new study that shows that the persistent gap in academic achievement between children in the United States and their counterparts in other countries deprived the U. S. economy of as much as $2.3 trillion in economic output in 2008 alone. Can we imagine how much that academic gap has cost us in potential income?”

Francis Escudero (1969) Filipino politician

2009, Speech: The Socio-Economic Peace Program of Senator Francis Escudero

“In the modern world, material is only wealth if you can get rid of it. The British miner cannot eat his coal, nor clothe his children with it, nor build his house with it. If coal is to mean for the British miner food and shelter and clothing, he must get rid of it. Get rid of it, that is, to someone who has money, sell it. But how is that someone to get money? He can only get it by one means: By getting rid of his material to someone who has money, who can only get money by getting rid of his material — round the world.”

Norman Angell (1872–1967) British politician

Peace and the Public Mind (1935)

“A long decade ago economic growth was the reigning fashion of political economy. It was simultaneously the hottest subject of economic theory and research, a slogan eagerly claimed by politicians of all stripes, and a serious objective of the policies of governments. The climate of opinion has changed dramatically. Disillusioned critics indict both economic science and economic policy for blind obeisance to aggregate material "progress," and for neglect of its costly side effects. Growth, it is charged, distorts national priorities, worsens the distribution of income, and irreparably damages the environment. Paul Erlich speaks for a multitude when he says, "We must acquire a life style which has as its goal maximum freedom and happiness for the individual, not a maximum Gross National Product."”

James Tobin (1918–2002) American economist

Nordhaus, William D., and James Tobin. " Is growth obsolete? http://www.nber.org/chapters/c7620.pdf." Economic Research: Retrospect and Prospect Vol 5: Economic Growth. Nber, 1972. 1-80. <br class="br">1970s and later

“Disrespect, the feeling that what one has to offer in life has been rejected, the feeling that one has joined history's losers can make us as human beings more vulnerable to evil.”

Al Gore (1948) 45th Vice President of the United States

Quotes, Our Larger Tasks (2002)

Help us to complete the source, original and additional information

Eric Zencey3

Related quotes

Related topics