In the Evening Standard today, a brilliant article by Russell Lynch in the business section.

He points out that Gross Domestic Product (GDP) a measure of how much a country produces is meaningless and that the inventor of GDP. Invented in 1934 by Harvard Professor Simon Kuznet who never expected or intended for it to be used the way it now is and subsequently distanced himself from it.

If it is recognized as such a disastrous and meaningless measure why is quoted so much?  The importance the media gives it seem to allow and even justify the Government using it to shape policy.  You will not find me paying GDP any attention in this blog.

Another statistic I hate at the moment is Unemployment which seem to be falling.  But what weight is given to the pressure the government is putting on benefit claimants to get of benefits?  If you can’t get benefits then why subject yourself to the misery of registering as unemployed?  Yes people are taking unpaid work to gain experience and part-time work is better than none.  But to claim things are getting better?  It’s just hype to try and rebuild confidence so business will invest.  Sadly it is a house of cards that will come tumbling down. We need Labour Market Reform.

There was a time I would have envied Russel Lynch for his wide readership but not any more.  To write this, and it changes nothing is depressing.  Think I prefer screaming into this bucket which will be read by only a few.