Why Japan and Scandinavia have the Healthiest of Economies in the World
W hile many modern economists and analysts focus on GDP growth and unemployment as a measure of health of the economy, it is an erroneous concept. An endless growth is neither sustainable nor logical and if it is stressed upon it would only be followed by recession. Further, a nation in which all are compelled to be enslaved into nine to five jobs (i.e. low unemployment rate) cannot be a happy and peaceful society but simply a modern version of an an enslaved feudal one that works for the wealth of a few. Following seven parameters are a far better measure of the health of the economy: 1. GDP divided by population does not change by more than +1/-1 percent 2. Bank Interest rates remain within 1-2 percent 3. Overall inflation/deflation rate is +1/-1 percent 4. Currency is convertible and fluctuates within +1/-1 percent 5. Wealth of top 10% is no more than 10 times the wealth of bottom ten percent 6. Basic healthcare and education is available to all free