Pro-Growth Bias is reflected in the media by the stories and words chosen, which hint and often trumpet that economic, population, and consumption growth is good and essential. We're here to expose the bias and encourage more balanced and thoughtful journalism. Here you can vote, discuss, and even post stories exemplifying the bias.
Wall Street Journal national economics correspondent Nick Timiraos likely got the facts right in his recent post in the Journal’s Real Time Economics blog, Declining Population Could Reduce Global Economic Growth By 40%.
“Declining population growth that shrinks the pool of available labor over the next 50 years will reduce by 40% the rate of growth in global economic output for the world’s 20 largest economies compared to the past 50 years, according to a new study.”
No doubt we’ll see a much lower rate of global economic growth going forward. The big productivity gains have been had. Population growth is...
Every now and then a story appears that just REQUIRES immediate posting on the Wall of Shame. Do not pass Go; do not collect $100. Such is the case with the recent public policy recommendation from Mei Zhiqiang, deputy head of the birth-control bureau in China’s Shanxi province:
China Official Wants to Force Couples to Have Second Child
The headline might just as well have been:
China: Not Miserable Enough, But Working On It
In a world obsessed with the Holy Grail of economic growth, the slowing rate of population growth has recently spawned an epidemic of birth-dearth fears. It’s difficult...
Brian Czech is one of the best economics writers going, so it is always a pleasure to honor his work on the Wall of Fame at Growth Bias Busted. I’m recommending and commending Czech's latest today because it reflects on how political expediency (and perhaps a few other things) affects a politician’s rhetoric. On U.S. President Barack Obama’s economic discussions:
“There is one issue, at least, on which he hasn’t held still, moving in and out like an octopus in a sunken ship. That issue is the relationship between economic growth and environmental protection. Based on his state of the union address,...
Fear not. While Europe isn’t doing its part and China is starting to slack off, in the race to liquidate the Earth’s life-support capacity, North America is killing it.
Retired U.S. Army general David Petraeus and Brookings Institution senior fellow Michael O’Hanlon make the Wall of Shame today for a recent Washington Post op-ed that reinforces seriously outdated myths about competition and exceptionalism.
In America on the Way Up, Petraeus and O’Hanlon begin with the unexamined assumption that increasing consumption and a growing economy are positives:
“Short-term economic trends in the United States are encouraging. Unemployment is down, growth is up, deficits...
Economic growth is a universal goal, always good, a noble pursuit. Growth of the global economy is not constrained by the laws of physics on a finite planet; it can continue forever. It doesn’t chip away at the capacity of our life-supporting ecosystems. This is undisputed. There is no question about it; no debate.
That is the impression one gets dozens of times every week – in television commercials, magazine ads, political speeches and news reporting. Its presentation as an undisputed fact gives it insidious power to keep our worship of growth firmly entrenched. The myths of prosperity from growth and...