The economics of enough: Dan O'Neill at TEDxOxbridge
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Is economic growth always a good thing? Why are people in countries like the US and UK not happier or working fewer hours when GDP has tripled since 1950? Dan O'Neill's thought-provoking talk exposes the pitfalls of economic growth and hints at alternative ways to measure progress. Dan O'Neill is a lecturer in ecological economics at the University of Leeds, and the chief economist at the Center for the Advancement of the Steady State Economy (CASSE). His work focuses on the changes that would be needed to achieve a prosperous non-growing economy, and alternative ways of measuring progress besides GDP. He is co-author (with Rob Dietz) of Enough Is Enough: Building a Sustainable Economy in a World of Finite Resources, an international best-seller which has recently been made into a short film. When he isn't doing research or teaching, Dan enjoys hiking in the Yorkshire Dales and singing songs about the misguided pursuit of economic growth. In the spirit of ideas worth spreading, TEDx is a program of local, self-organized events that bring people together to share a TED-like experience. At a TEDx event, TEDTalks video and live speakers combine to spark deep discussion and connection in a small group. These local, self-organized events are branded TEDx, where x = independently organized TED event. The TED Conference provides general guidance for the TEDx program, but individual TEDx events are self-organized.* (*Subject to certain rules and regulations)
Comments
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you need growth to keep Ponzi schemes going, which is what our left wing government programmes and right wing banking systems have become..this is where the left and the right join hands to unite in the folly which will destroy the environment...the speaker doesn't, in this clip anyway, address the issue of population growth and how that fits into his scheme of things
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when did left start worrying about environment? I believe that money supply should be controlled, but not rest of his Ideas. When people have more time on hand, they will spend it on looking after children? looking after the elderly? Has this idea been tested? I would like to make it clear that I am not in favour of overworking people, but 'empty mind is devil's workshop'. A balance has to be maintained.
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Excellent
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@Learn Social Justice: you too are on you tube. watch the self righteous finger pointing.
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I look forward to making do & living with {lol} less... A Steady State Economy is something I hope humanity attains sooner rather than later, however, the comments below show that uncoupling the economy from human identity is going to be a challenge.
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It is true that GDP is measured improperly. It is also true that the fractional reserve banking system implies default to balance the books. Growth though, is only really necessary to account for increases in population and to pay for extravagant entitlements. The problem with Utopian schemes like minimum and maximum income require coercion. If "utopia" could be done voluntary, it would already be done.
"Inequality" is a canard - a nice way of saying "I'm jealous of your income and you owe me". What matters is not income inequality but rather the real income of the lowest earners. Just because you are rich does not make me poor - the opposite is true. Wealth diversity is useful in the same way as biological diversity is - it creates opportunities. Very wealthy individuals can invest in ways that others cannot.
What is required is the free market and patience - free markets are the only mechanism proven to increase wealth and prosperity. Happiness is not a quantity that can be measured because it cannot really be defined and it changes from minute to minute. All we know is that shortage of resources causes unhappiness so why not promote prosperity by removing coercion and control growth by controlling population and restraining government growth. -
Socialist garbage. What happens when the people making the "maximum income" decide not to make anymore because it will only be donated to the "minimum people"? You're a moron. I think less of TED now for having you.
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Pure socialist propaganda: there are so many holes in what he is saying. Not the least of which is ethical considerations: I certainly don't agree with 'his' philosophy on what is right and what is wrong. Fuc* equality. We have never been equal along any measurement nor dimension; in addition to this, I strongly believe socialist policies degenerate a society. The minute a politician in a socialist society moves to cut 'ANY' social benefits, massive SJW riots take place on the streets, full with Molotov cocktails, and throwing rocks at the police. They are nothing but a bunch of degenerates.
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Maximum wage. Why can't a CEO's make millions? What if you started the company? And some people are extremely clever and sacrifised alot to get on the top. They make themselves worth millions.
People want shit they can't pay for. That is why there are loans. This doesn't sound bad to me, I like having a mortgage/house. And about the bankingsystem; he clearly isn't aware of Basel 1, 2 and 3. -
LEFT WING FTW!
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COMMUNISM in SHEEP'S CLOTHING?
7:22 "entitlement"..."as a right of citizenship" -
There is no such thing as a renewable resource.
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Debt based Fiat currency is the fuel for the insane suicidal growth of GDP. People have been saying what this guy is saying for a long time and nobody in power gives a damn. And those not in power seem to brainwashed and beat down to give a damn.
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and limited trees to absorb that excess co2
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What he says about happiness and GDP is untrue. Long-term surveys across many different countries show that happiness does indeed increase with income (specifically with log income, as economists have long assumed) and does not level off as he says. (And no-one suggests that relationships etc. don't also contribute to happiness.) See this paper: http://www.ksg.harvard.edu/inequality/Seminar/Papers/Stevenson13-1.pdf
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Good luck getting the banks to give up their well entrenched racket. And even more good luck getting the bank owned politicians to force them to do it. Not to put a downer on your talk... Overdose of common sense here.
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The only problem with this is that he is just repeating what has been told many times since the 1990s, and even before. Something is very wrong with a wholly reasonable message that sounds like a broken record ....and the "cause" is hardly advancing
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Ahhh my brain hurts. I'm left wing and so sympathetic to this, but there's so much wrong here.
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Perhaps the government could offer an ultimatum to companies: either you choose your own minimum wage:maximum wage ratio before a certain date, or wait until (after that date) the government decides for you what ratio you'll be allowed to pay. We should also encourage companies to do this by choice, for ethical reasons, as certain co-operatives and other 'values-driven' businesses do this already. The difficult thing is having the political will to make such an ultimatum happen...I don't have an easy answer for that! Suggestions welcome ;)
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Economics of enough
If students are not listening such lectures in economics class then their study is not complete
12m 52sLenght
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