The paper, by David Hope of the London School of Economics and Julian Limberg of King’s College London, found that such measures over the last 50 years only really benefited the individuals who were directly affected, and did little to promote jobs or growth.
“Policy makers shouldn’t worry that raising taxes on the rich to fund the financial costs of the pandemic will harm their economies,” Hope said in an interview.
* * *
Bubble up works, though.
https://www.huffpost.com/entry/economy-growth-gdp-happiness_n_5fad6f57c5b6d647a39cf60c
"It’s a model of economic success ill-equipped to withstand the impact of crises: pandemics, natural disasters, recessions or all three, said Jason Hickel, an economic anthropologist and senior lecturer at Goldsmiths, University of London.
In fact, he said, the growth obsession 'is precisely what got us into this mess in the first place.' Cycles of extraction, production and consumption to feed economies hooked on growth have increased emissions and destroyed nature, exacerbating the climate crisis and increasing the likelihood of more pandemics. It’s a threat to our health, food and water security ― and to our economic stability."
Yay! I hope this catches on.
