Archive for January 8, 2012

Instead of focusing on increasing economic growth, shouldn’t the focus be on long-term sustainability and durability?

This is the question raised and addressed by Kenneth Rogoff, Professor of Economics and Public Policy at Harvard University,  formerly chief economist at the IMF:

Cambridge, United Kingdom – ‘Modern macroeconomics often seems to treat rapid and stable economic growth as the be-all and end-all of policy. That message is echoed in political debates, central-bank boardrooms and front-page headlines. But does it really make sense to take growth as the main social objective in perpetuity, as economics textbooks implicitly assume?

Certainly, many critiques of standard economic statistics have argued for broader measures of national welfare, such as life expectancy at birth, literacy, etc. Such appraisals include the United Nations Human Development Report, and, more recently, the French-sponsored Commission on the Measurement of Economic Performance and Social Progress, led by the economists Joseph Stiglitz, Amartya Sen and Jean-Paul Fitoussi…

…There is a certain absurdity to the obsession with maximising long-term average income growth in perpetuity, to the neglect of other risks and considerations.’

more @

On January 11, 2002, the United States brought the first 20 prisoners to the Guantanamo Bay detention facility, marking the beginning of a program of indefinite detention without charge or trial of terrorism suspects that has lasted 10 years. Since then, a total of 779 prisoners have been held at the facility…Human Rights Watch, more at

Keith had finished his snippet on the iPhone vs Gadaffi….

He then read this very irritating article in the right-wing national newspaper, The Caucasian, about Ronald Dumsfeld’s forthcoming visit to Melbourne, written by the bearded foreign editor, Ben Harridan. “Bloody Bush apologist, neo con…’mates’ with Bliar and mouthpiece to Toad of Toad Hall himself, that shell-suited walking flag with the glasses.”

Dumsfeld too still disturbed the hell out of Keith. Down with the flu a few months back, he’d re-watched House of Bush for the umpteenth time, but had pressed black+white on the remote when Dumsfeld was featured. He had then imagined that Dummy was speaking in German. One long segment on Guantanamo had cage shots interspersed with his demented justifications – snarling, arrogant, sociopathic, rimless spectacles….sweaty eyelids like fried bacon rinds.

Errr, it’s 2012 and Eichmann is alive and well and living in DC. Banality of Evil – again. Nothing banal about its’ consequences right now. Ask the orange cage men of Cuba.  Ohh, but you can’t…and neither can I.

“Now that brutish, neoCON bastard certainly deserves a good caking” muttered Keith as he suddenly realised that the solution to several of life’s particularly niggling problems lay in his fridge and flour tin…“I bake therefore I am”.

But then, he reflected that beyond this initial and somewhat superficial response…Rumsfeld, Cheney, Bush, Bliar et al should actually answer to a court in the Hague for crimes against humanity.

Below Harridan’s swooning Dummy piece…a creepy looking, famous actor is trying to sell newspaper readers expensive watches, on the basis that he has this extraordinary hidden talent…the watch on his wrist, with its dials and buttons, is the signifier of this talent. Keith was thinking, “could it be timed Meccano construction …? Flying model airpl…

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