Lord Turner: growth is a false God
I am not in the group of people who say we can’t have any growth, but I am also convinced that if you spend your time thinking that the most important objective of public policy is to get growth up by 1.9% or 2% or even better 2.1%, then we’re pursuing a sort of false God… All the evidence shows that beyond the sort of standard of living that Britain has now acheived, extra growth does not automatically translate into human welfare and happiness.
Lord Adair Turner speaking to Andrew Simms for Radio 4’s World Tonight. Turner is head of the FSA and one of the most senior economists in the country. There is more here.