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> Nothing can be the same from now and that means a massive effort to build a better, socially and economically just, and ecologically safe future.
Mainstream political leaders call for economic growth but we know that growth only makes the situation worse. They distract by calls that point to enemies beyond our shores, or among the peoples that live here. They may nod to sustainability but only halfheartedly, with proposals that will address only part of the problem.
/Cont'd
#Agriculture is pivotal to #Pakistan’s economy, contributing 23 per cent to the #GDP & employing 37.4pc of the labour force. With 70pc of the country’s exports directly or indirectly linked to agriculture, disruptions in this sector can have profound #economic impacts. Recent #protests by #farmers, sparked by governmental policies & market conditions, have thrown the sector into #turmoil, exacerbating the ongoing challenges of #inflation & low #ForeignReserves.
"You’re probably already losing money because of #ClimateChange.
For the average American born in 2024, climate change could mean ending up nearly $500,000 poorer over their lifetime, according to a new report from Consumer Reports and the global consulting firm ICF. If the analysis included more uncertain factors, the cost could be closer to $1 million."
That's nice, but come back and talk to me again about a healthy economy when all the food banks have given up and gone home because no-one needs them any more.
There is more to a healthy economy than GDP growth.
Pres Biden's economy is "GOLDILOCKS", but Republicans repeatedly tell voters that it's awful & that they & #TFG will make it better, like they did before. Their lies are significant, bc voters believe them:
Goldman: “We expect much stronger #GDP growth this year than consensus but nevertheless expect core PCE inflation to fall meaningfully, enough for the FOMC to cut 3X starting in Jun. We're often asked whether these forecasts aren’t contradictory.. We don’t think so.”
#GDP is on the news today so here's a classic joke:
Two economists walk through a forest. They come across a turd on the ground.
"I'll give you $100 if you eat it" one says, the other agrees, takes the money and eats the shit.
Later they find another turd.
"Now I will give you $100 if you eat this" the other wants the money, so agrees and eats the second turd.
As they leave they reflect:
"You know, it feels like we both ate shit for nothing."
"You'd think so, but we increased GDP by $200"
This graphic (circulated by Bridget Doran on LinkedIn) neatly sums up the problem with the simple message that growth needs to be prioritised & measured via a nominal GDP measure.
In this sense it reflects a heckle reported by Anand Menon nearly a decade ago, during a lecture on GDP & the problems of growth:
'That’s your bloody GDP. Not ours'!
The simple truth that growth is unevenly distributed is often lost in policy discussions!
@osma One does tend to think about the #tiktok ban in #USA more through the lens of economic protectionism than about moral, social, child protection or internal security.
As a foreigner, my impression of US government has long been one of favouring speaking in rhetorical flourish when it in-fact is merely protecting it’s class 1 citizens: the big companies that make up it’s #GDP.
It is not an oligarchy as plain as Russia, but not immune to the same #doublespeak every now & then. 🤔
If you see any positive coverage about the UK's return to positive growth of GDP.... just be clear its up by 0.2%, well within the margin of error & certainly merely confirms the UK continues to flatline in GDP terms.
Whether GDP is worth focussing on is another (larger) matter, but any news media 'celebrating' the return to growth are merely blowing smoke in your eyes!
The #EastCoastRailLink (#ECRL) is anticipated to contribute a 3.8% increase to #Malaysia’s gross domestic product (#GDP) by 2047 by enhancing trade, boosting tourism and stimulating regional development
The ECRL project is more than just a #rail link cutting across #Kelantan, #Terengganu, #Pahang and #Selangor, but can also serve as a cornerstone for economic growth and social progress
If #ClimateChange continues on its current trend, effects on #Africa will be devastating:
Crop production down by 18% by 2050
Crop revenue down by 30%
Poverty up between 20% and 30%
Gross domestic product (GDP) decline of 7.12%
50 million people pushed into water distress.
"Country-level projections have suggested much greater economic losses in #GDP, ranging from 11.2% to 26.6% in the long term, in the most affected regions of Africa."
"Park summarizes the literature and concludes that heat can significantly hinder human performance in areas ranging from standardized exams to professional tennis to manufacturing. “Hotter temperatures,” he argues, “may already be affecting companies’ bottom lines,” and climate change has the potential to “significantly alter the economic playing field” by creating winners (those able to adapt) and losers (those who cannot)." "
"Under the Paris Agreement's ambition to limit global warming to less than 1.5C above pre-industrial levels, #Chile could see an 8 percent decrease in GDP per capita. This figure skyrockets to a 27 % loss under more extreme warming scenarios. #Venezuela, meanwhile, faces a potential #GDP loss ranging from 2.7 to 16.2 percent, depending on the warming scenario. These numbers underscore the urgent need for comprehensive climate action to mitigate these economic risks."