dgp4indy

Economics/Finance

GDP Is A Useless Measure Of An Economy

"A country’s GDP is an estimate of the total value of goods and services they produce. But even when the concept was first developed back in the late 1930s, the man behind it, Simon Kuznets, warned it was not a suitable measure of a country’s economic development: “He understood that GDP is not a welfare measure, it is not a measure of how well we are all doing. It counts the things that we’re buying and selling, but it’s quite possible for GDP to go in the opposite direction of welfare"."
https://talkingupscotlandtwo.com

Scotland's New National Investment Bank

"Scotland will soon have a new bank: The Scottish Investment Bank but it is not the kind of savings bank the we as customers would use on a daily basis. Agreed to by all political parties in the Scottish Parliament on 21st of January 2020, the new bank is about providing investment to stimulate the economy. It also has a strong environmental focus."
https://theorkneynews.scot

Fiscal Rules Are Not Worth The Paper They Are Written On

"a fixation with fiscal rules is simply absurd in an era when we know that a) there is a macroeconomy, which fiscal rules deny by adopting a household analogy b) money is created by governments and so they cannot be constrained by a shortage of it and c) the impact of fiscal rules has always been to constrain the role of government, impose austerity and to create unemployment as a wholly unnecessary and profoundly socially costly buffer against inflation in the interests of the wealthy."
https://www.taxresearch.org.uk

Scotland Outperforms rUK On Jobs

From Insider today: "Permanent job placements in Scotland have risen for the first time in five months in a positive sign for the labour market. The figures in the latest RBS Report on Jobs for November also show Scotland is performing better than the rest of the UK. According to the report, the report’s Permanent Placements Index – which aims to track trends in the number of permanent jobs – rose from 46.3 in October to 50.8 in November."
https://talkingupscotlandtwo.com

5 Reasons Why Scotland Would Thrive As An Independent Nation (Updated)

"

Scotland is home to a unique combination of assets with which to build a prosperous and wealthy nation. Medium-sized European nations such as Norway, Denmark, and Sweden are among the most prosperous countries in the world, well ahead of the UK. Scotland shares many similar economic features with these countries, highlighting the immense growth potential of Scotland. There are 5 vital contributors to growth and development in a country. These include natural resources, a skilled population, access to trading markets, well-functioning products and sectors to trade with, and a supportive financial services system. Scotland possesses all of these in abundance, suggesting the country’s capability to boost its economic growth."
https://www.businessforscotland.com