TrueValueMetrics ... Impact Accounting for the 21st Century

Date: 2024-12-26 Page is: DBtxt003.php txt00025272

UNITED KINGDOM WHY? HOW MUCH IS EXCESSIVE FINANCIALIZATION? Econ: Why Is Britain No Longer a Rich Economy? \| UK Economy \| Econ PLAY YOUTUBE VIDEO Original article: https://www.youtube.com/watch?v=dAzdBnJztn4&t=9s Peter Burgess COMMENTARY I am archiving this material in August 2023. It is from a 12 minute video which poses a lot of very good questions about the progress and performance of the UK economy, the UK society and other issues. All of this is very personal to me. I am British, born in 1940 and in the early days of WWII and over the years an observer of the good and the bad of British global involvement. When I was still a university student I got to spend two summer vacations in Canada and the United States and chose to become an economic migrant to Canada from the UK in 1966. Back then I was able to earn more in one month in Canada than I was able to earn in the UK in a year! The decision to migrate to Canada was relatively easy! At the national level, I am concerned that the economic, social and (hopefully) environmental analysis should be a whole lot better than it is. When I was a student at Cambrode in the late 1950s there was a dialog about how bad GDP was as an economic performance measure ... Maynard Keynes and Joan Robinson wanted something that was more complete but 60 years later GDP is still a ubiquitous economic performance metrics ... STUPID on steroids! When STUPID is in play ... there is usually a reason! My conclusion is that GDP suits the rich and powerful because it is a completely useless metric for better management of the socio-enviro-economic system ... and the last thing the rich and powerful want is a coherent comprehensive system of management metrics that look at all the dimensions and perspectives of progress and performance. The way the modern economic system works is that those with money and power are able to make decisions that are of benefit to themselves with little or no accountability for the impact this is having on everyone else ... and the result is a massive increase in inequality and the overall lowering of quality of life, I like this YouTube presentation though my interpretation of the various factual elements is a little different. My initial thinking is that it is difficult, if not impossible to explain economic performance simply with one datapoint for each of the many elements of the system. Specifically, I see most of the datapoints as being an amalgam of dataponts related to multiple people groups. A useful economic analysis needs to look at the many different groups within the total of the population because they are experiencing day to day life in very different ways ... all are valid, but solving one problem with giving consideration to the other problems will not get to a useful conclusion. More on this needs to be done! Peter Burgess
Why Is Britain No Longer a Rich Economy? \| UK Economy \| Econ Econ Aug 18, 2023 65.4K subscribers ... 212,112 views ... 4.8K likes #Britain #recession #UK It is important to understand that #Britain isn't as rich as it believes. There's a reason for this misconception. For the last 15 years, the amount of money families in the UK have for their needs hasn't gone up. Compared to families in northwestern Europe, the average UK family has 20% less money. A survey by the Resolution Foundation in January found that 11% of people in the UK (which is around 6 million people) didn't have enough money for food, so they went hungry sometimes. Britain’s low-growth #economy is relentlessly reducing the country’s living standards. So, what are the reasons for this? Why is Britain getting poorer? Support my research and projects: https://ko-fi.com/econyt Enjoyed the video? ⭑ Subscribe to Econ 👉 https://bit.ly/3qcMwTA #economy #UK #recession #poverty Citation: https://pastebin.com/p8AiFwis Maps:© MapTiler © OpenStreetMap contributors by GEOlayers 3 Image: https://commons.wikimedia.org/ Stock Footages: https://www.pexels.com/videos/ https://www.storyblocks.com/ https://www.istockphoto.com/ Music by: Oxygen Garden by Chris Zabriskie Prelude No. 15 by Chris Zabriskie license. https://creativecommons.org/licenses/... Artist: http://chriszabriskie.com/ Feels - Patrick Patrikios Lament Of The Ancients - Asher Fulero No.10 _A New Beginning - Esther Abrami Trend of GDP per capita in the UK (1980 - 2023) Total economic output of the UK (since 1278) King's College 'backs' The UK drops to 6th largest economy! UK gas price inflation ... good for the 'energy' industry ... bad for everyone else! 'Profit' is the largest component of price in everything we buy! Politicians won't address the chronic problem of low investment and low productivity in Britain Low wages likely aggravate the problem of low labor productivity Houshold income has flatlined since the 2008 banking hiatus! UK may be a rich country ... but its people are relatively poor More household income enables these good things. Less household income results in these bad things ... and more! UK healthcare has been very good while being low cost, but in recent years the very good has been in decline! The US health system is very expensive and not very good! The US health system is very expensive and not very good! A quite civilised country ... but the socio-enviro-economic trends are not good! UK productivity trend more like US, Canada and Japan than countries in Europe Since banking crisis in 2008, the UK has flatlined. UK has embraced 'financialization' with much too little focus on tangible physical investment. The decline in UK 'business investment' since 1995 is an issue but it may be a lot worse depending on how 'business investment' is defined UK R&D levels are quite high ... but conversion into commercial revenues maybe weaker than in other countries For the UK there is an elevated level of uncertainty after 'austerity' has been a major Conservative Party priority amd policy choice! Child poverty was reducing until 2010 ... and then an upward trend largely a result of austerity to reduce national debt Whatever happened to the UK economic leadership of the Victorian industrial era? Now it is more about the comfort and phony substance of 21st century 'financialization'!

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