[P2P-F] Fwd: FYI - Is Productivity Growth Becoming Irrelevant? by Adair Turner - Project Syndicate +

Fri Aug 18 08:53:07 CEST 2017

---------- Forwarded message ----------
From: Nurul E <ne_atl at onebox.com>
Date: Fri, Aug 18, 2017 at 3:02 AM
Subject: FYI - Is Productivity Growth Becoming Irrelevant? by Adair Turner
- Project Syndicate +
To:

Former UK financial regulator opines

Is Productivity Growth Becoming Irrelevant? by Adair Turner - Project
Syndicate

https
<https://www.project-syndicate.org/commentary/productivity-growth-becoming-irrelevant-by-adair-turner-2017-07>
://www.project-syndicate.org/commentary/productivity-
growth-becoming-irrelevant-by-adair-turner-2017-07
<https://www.project-syndicate.org/commentary/productivity-growth-becoming-irrelevant-by-adair-turner-2017-07>

"Look around the economy, and it’s striking how much high-talent manpower
is devoted to activities that cannot possibly increase human welfare, but
entail competition for the available economic pie.

Such activities have become ubiquitous: legal services, policing, and
prisons; cybercrime and the army of experts defending organizations against
it; financial regulators trying to stop mis-selling and the growing ranks
of compliance officers employed in response; the huge resources devoted to
US election campaigns; real-estate services that facilitate the exchange of
already-existing assets; and much financial trading.

Much design, branding, and advertising activity is also essentially
zero-sum. It is certainly good that new fashions can continually compete
for our attention; choice and human creativity are valuable per se. But we
have no reason to believe that 2050’s designs and brands will make us any
happier than those of 2017.
Such zero-sum activities have always been significant. But they grow in
importance as we approach satiation in many basic goods and services..."

Regards,

  - Nurul

---- bonus links ----

The Economist Who Predicted Trump and Brexit Explains How Baby Boomers
Ruined Everything

https <https://pocket.co/xQMSxy>://www.gq.com/story/mark-
blyth-economics-interview <https://pocket.co/xQMSxy>

https <https://www.youtube.com/watch?v=Bkm2Vfj42FY>://www.youtube.com/watch?
v=Bkm2Vfj42FY <https://www.youtube.com/watch?v=Bkm2Vfj42FY>

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