Creative destruction can apply to economic concepts as well. And this downturn offers an excellent opportunity to get rid of one that has long outlived its usefulness: gross domestic product. G.D.P. is one measure of national income, of how much wealth Americans make, and it's a deeply foolish indicator of how the economy is doing. It ought to join buggy.
Eric ZenceyRelated topics
buggy creative destruction domestic economy gross income indicator join measure national opportunity ought product rid usefulness wealth well downturnRelated quotes
The gross perversion and destruction of motherhood by the abortionist filled me with indignation, and awakened active antagonism. That the honourable term 'female physician' should be exclusively applied to those women who carried on this shocking trade seemed to me a horror. It was an utter degradation of what might and should become a noble position for women.
Elizabeth Blackwell
What we have seen is that while the average person is working longer hours for lower wages, we have seen a huge increase in income and wealth inequality, which is now reaching obscene levels. This is a rigged economy, which works for the rich and the powerful, and is not working for ordinary Americans ... You know, this country just does not belong to a handful of billionaires.
Bernie Sanders
Government, management and unions...have now...jointly embarked for the first time in Britain, on the path of working out together how to create and share the nation's wealth for the benefit of all the people. It is an offer to employers and unions to share fully with the Government the benefits and the obligations involved in running the national economy.
Edward Heath
It turns out that advancing equal opportunity and economic empowerment is both morally right and good economics, because discrimination, poverty and ignorance restrict growth, while investments in education, infrastructure and scientific and technological research increase it, creating more good jobs and new wealth for all of us.
Bill Clinton
Members, you and I will work together in the months ahead on other issues: productive farm policy, a cleaner environment, broader home ownership, especially among minorities, and ways to encourage the good work of charities and faith-based groups. I ask you to join me on these important domestic issues in the same spirit of cooperation we've applied to our war against terrorism.
George W. Bush
