Comments by "Guinness" (@GuinessOriginal) on "Do We Actually Need Recessions?" video.

  1. Dan Cojocaru people can be better off without economic growth. Economic growth is only there to make the rich richer
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  2. Ryan King yep. It's OK for big business and corporates to fail outright and get bailouts but not workers. It's also OK for companies to commit fraud with the furlough scheme because hmrc have pretty much said that they won't be investigating any claims of fraudulent use of the scheme because its too big a job, yet they're happy to chase disabled people off benefits and hunt down sole traders and self employed who might have skipped paying a few grand in tax. Meanwhile companies in the cayman Islands can get away with paying nothing
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  3. Dan Cojocaru I think it was jfk who said gdp measures everything except the things that really matter to people. And Einstein who said not everything you can count is important. And not everything that is important can be counted.
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  4. ddandymann geography and world economy kinda dictated that tbh
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  5. Krisztián Kőrösi more of a dead cert than a necessity
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  6. KittyCow lol no it doesn't. There's another financial crisis round the corner
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  7. integ3r absolutely. Has been for a long time
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  8. Regis Growth just measures the nominal value of consumption. The primary purpose of consumption is to make profits for the owners of capital. It isn't to increase the living standards of the population, and increases in gdp do not equate to increases in living standards. The last ten years can attest to that. If you had goods that didn't have built in obsolescence and lasted ten or twenty years or more, you wouldn't need to spend so much income on replacing them. That means you'd have more money for added value things that actually improve the quality of life and standard of living, and you wouldn't need to work so many hours to earn money to keep replacing all your consumables. So everyone works less and has a better quality of life. The only people who would lose out are the people who own the companies making the consumables, obviously they wouldn't make as much money but they're already filthy rich so who cares
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  9.  @nadie8093  and yet despite hundreds of years of economic growth homelessness and poverty are in the rise in the West
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  10. This is of course all based on the current consumer capitalism model
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  11. Daniel Shaikhali two vowels in bad
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  12. Any else love the aussie drawl on really, few, due, very, bad etc
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