Our friends at the UoA Economics Group just sent me through their update on tonight’s meeting:
Hello all,
“Progress is movement in the direction of a higher, better and more desirable state of affairs.” Growth? Not so much. Join us tonight as we discuss the difference between progress and growth, wealth and production, productive consumption and UNproductive consumption.
It will help us next week when we discuss the GDP Delusion—the idea that GDP measures production, and not something else that’s almost the opposite.
Time: 6:00pm
Date: Tuesday, 11 October
Location: Case Room 1, Level 0, University of Auckland Business SchoolLook forward to seeing you there.
UPDATE: Here’s some notes and images used last night (my source for the images is Mark Skousens’s book Structure of Production):
And here’s the slides showing all those definitions we discussed. Hope you find them useful:
SLIDES-Production Versus Consumption
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