Last week news came out that the UK economy is now slightly bigger than it was pre-recession in the first quarter of 2008. Cheers all round! Well sort of – using economic output as the main measure of how well we are doing is somewhat flawed to say the least!
But leaving that aside, we learn that we have to take population growth into account, and what does that tell us?
Because whichever way you cut it, most people remain poorer, largely because the population has increased considerably faster than output has recovered.
For More: BBC Robert Peston at: http://www.bbc.co.uk/news/business-28417993
Oh dear – more people but worse off!!! Its time to recognise that population growth is not so wonderful after all and also come up with some alternatives to measure how well we as a society are doing.