The economists obsession about GDP is not a misconception or ideological prejudice. The whole capitalistic system, to satisfy the demand for positive yield on capital, needs continuous economic growth. In a stagnant economy, will be no new additional add value, that is necessary to pay return on the loans in form of interest, or on invested equities in form of dividends, (or CEO wages). The whole capitalistic system cannot continue to exist on the long run, if no positive return is on the capital. This is why the existing capitalistic system must continue with economic growth, even if doing it, it will destroy the world’s ecological balance, and at the end cause the annihilation of human specie on planet Earth. The world economy long time ago stopped to add new value to the standard of living in the developed countries. As example i would bring the more and more sophisticated private cars, that add very little comfort to the driver, while he has to drive for hours in traffic jams. The same phenomena can be said about most of the consumption items, except for some new paradigm products, that appear from while to while on the market, like smartphones or laptops. This is why the Great Barrier Reef is doomed, and much more than that, unless a system change will happen. This is why no data, evidence or any kind of rational argumentation can work within the existing economic system and its political servants.
My understanding is that the human being belong to social cultural groups, that differ from each other according to their conscious awareness. I can in rough terms divide these social groups with three kinds of methodology of world view creation:
- Those whose concept of consciousness is based on belief in fairy tales originated in ancient texts like, the Bible or the Koran.
- Those whose consciousness is built on modern fairy tales, created by sophisticated tools of modern marketing. Those tools include not only official marketing tools, like advertisements, but every random information and communication object a normal human being encounters in every step in his life in modern society. It includes cultural products, like movies, newspapers, books, shops, street signs, etc.
- And then are those, who consciously make special effort to avoid random information and rather are exposed to intentionally chosen information with definite purpose. This information then they rationally, with self aware critical approach, judge and filter, based on evidence and previous experiences.
Eventually the among the first two categories are overwhelming majority of the people, if you consider the number of followers of the first two category information, compared to the followers of the scientific information on the web. It makes it easy for the people who run the existing economic system, based as explained above, on the need for ever growing return on capital, to sustain this deception of most of the people, whom they draw to over consumption and illusive satisfaction of immediate desires and lust. Of course the economic leaders, who market this deceptive economic system to the people, are well aware to the fact, that the system cannot continue to go on forever like it is now, exactly as they knew before 2008 that this system of theft can’t go on forever, but they still continued to play, believing somehow, someone, will clean for them and after them the mess they created.