Created: Thursday, 15 May 2008 Written by ChatoInsane national growth fetish,
and the "Big Rising Incomes" myth.
Realizing that many decades of rising gross
domestic product in most of the world has
swallowed vast amounts of natural and human
resources without improving the collective sense
of well-being, it seems that we have submitted
ourselves to a cycle without end - hope followed
by disappointment followed by hope, unless some
event or sudden realization breaks the cycle.
As for growing incomes keeping pace, the truth is
that real household disposable income is not rising,
and if anything is falling and will no doubt fall
much further yet.