KNOW IF GROWTH IS GOOD OR BAD?
Australia's GDP growth was 0.2 percentage points for the quarter ending September 3rd, 2019, bringing the annual pace of GDP growth to 1.2 per cent. It has been higher in the past and is almost at the zero growth rate favoured for a steady state economy. It is a half of the US rate of 2.3 percent for the 4th quarter in 2019. Australia's production is growing slowly. Are we to suppose there has been improvement in something else? Unlike Bhutan, Australia does not record happiness. If there has been an increase in happiness, or a decrease, we wouldn't know. Media reports of growth and its effects provide only a partial picture.. To appreciate what growth is occurring and how beneficial it is, I will switch my viewpoint to individual developments, the criteria for identifying winners and losers, and what they can expect. This is investigated in my paper DOES GROWTH BENEFIT SOME GROUPS AT AN EQUIVALENT COST TO OTHERS? For developments where this occurs, there are several possible philosophies of compensation. A conclusion is that development proposals should be audited for their attention to: markets; the public good; resource use efficiency; disadvantaged people; and conserving environments. Careful development will ensure that growth, although it may be slow, will be fair. My novel Presumed Dead is a crime fiction story that illustrates a government decision process for a casino development involving a sassy woman city councillor.
Posted on October 26, 2020, in Growth and development, Presumed Dead and tagged city, Compensation, corruption, Criteria, democracy, Developing countries, development, exploitation, GDP Growth, philosophy, Planning, Political economy, Political philosophy, Uncategorized. Bookmark the permalink. Comments Off on KNOW IF GROWTH IS GOOD OR BAD?.