Voltaire could not have written a better farce than some of the stuff being put out by European think tanks.
The latest is advocacy of "no growth" economies. The assertion that economic development is finite and ought to be so. Scarce resources and overpopulation necessitate "prosperity without growth". I AM NOT MAKING THIS UP !
In Britain, a GOVERNMENT commission has drawn up plans for a "steady state economy". And Brown and the Labourites are certainly doing their part to stifle growth. In Germany, the latest best seller is "EXIT : PROSPERITY WITHOUT GROWTH". In France, Sarkozy ( of all people ! ) has applauded an expert report describing the pursuit of GDP growth as a "fetish".
Effectively, they are giving up on growth and embracing all sorts of fights over the distribution of limited resources. Many are pointing to Iceland and Ireland as examples of what can go wrong when countries pursue pro-growth policies. They are choosing to ignore the effect on the poor and less well off of pursuing no growth policies.
We have the same sort of advocacy in this country. Al Gore and his fellow members of the Church Of Immaculate Stagnation aka Global Warming ; Henry Waxman; the late Ted Kennedy; Joe Biden; PAUL KRUGMAN etc. etc.
Exhibit "A" is the fact that Obama and the Dems have done NOTHING to promote formation and growth of small business which creates 40 to 50 % of the new jobs in this country.
Would someone please explain to me , or better yet to an economic ignoramus like Obama, how you can have increased prosperity without growth ? And please, PLEASE ! , no "happy talk" chirping about "Green Jobs". Spain and California have PROVEN that "green" policies cost more jobs than they create. The question is: How can there be prosperity with growth ?



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