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I think the political problem is that you can't jettison the word "growth" even though what people want from it is not what economists (and others) define it to be.

Largely, what we all want is life to get better.
In human terms, in individuals terms, the word "growth" is part of that.

So, what people mean when they say "growth" is "welfare", but "welfare" (which was part of the well-respected "welfare economics" decades ago) is now a term of abuse...

Farewell...

A society committed to the notion that government is always bad will have bad government. And it doesn't have to be that way. — Paul Krugman

by Migeru (migeru at eurotrib dot com) on Tue Apr 22nd, 2014 at 10:28:19 AM EST
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