Sublime

For over 30 years we have aimed for an egalitarian society. If we want to have successful entrepreneurs, Singaporeans have to accept a greater income disparity between the successful and the not so successful.

Inversement, les pouvoirs publics pourraient financer non pas un revenu de base, mais des services universels de base. Au lieu de distribuer l’argent aux individus, qui font ensuite leurs achats à leur guise, ils pourraient financer la gratuité de l’enseignement, des soins médicaux, des transports, etc. Telle est, de fait, la vision utopique du com

Herman Daly.

Second, see the big picture. Mainstream economics depicts the whole economy with just one, extremely limited image, the Circular Flow diagram.

It is entirely possible for the wealth of every single person bar one to go down, while GDP growth goes up. In fact, something not too dissimilar to this seems to have happened in Europe and the United States since the Global Financial Crisis. GDP keeps on climbing while median measures of income, disposable income, assets, net financial wealth, an