Robert Rubin Echoes Robert F. Kennedy: GDP Is Fatally Flawed Measure Of Economic Health – “Former Treasury Secretary Robert Rubin has a must read piece in the Washington Post, ‘How ignoring climate change could sink the U.S. economy.’ The centrist economic panjandrum main point: The notion that tackling climate change will harm the economy is the exact opposite of the truth. In this regard he makes a similar point to one Climate Progress made last week — one that Sen. Robert F. Kennedy made so powerfully on the presidential campaign trail nearly half a century ago ,,, — the GDP is a deeply flawed measure of the economy’s health.”
When all the jobs belong to robots, do we still need jobs? – “… there’s a real scarcity of economists willing to think about the possibility that abundance makes markets obsolete altogether. Property rights may be a way of allocating resources when there aren’t enough of them to go around, but when automation replaces labor altogether and there’s lots of everything, do we still need it?”
Longest UK slump in a century ends – “Of the G7 major economies, only Italy has taken longer than the UK to regain its pre-crisis size and output per head in Britain is still 4 per cent below its pre-crisis level. A muted Mr Osborne admitted there was ‘still a long way to go’.The big question for him is whether the rebound has come too late to save the Conservatives at the next election, but he is convinced voters will not turn back to a Labour party that was in power when the crash hit in 2008.
Former CIA Officials Denied Chance To Preview ‘Torture’ Report – “About a dozen former CIA officials named in a classified Senate report on decade-old agency interrogation practices were notified in recent days that they would be able to review parts of the document in a secure room in suburban Washington after signing a secrecy agreement. Then, on Friday, many were told they would not be able to see it, after all. Some of them were furious, while Democratic Senate aides were angry that they were given the chance in the first place. It’s the latest chapter in the drama and recriminations that have been playing out behind the scenes in connection with what some call the Senate torture report, a summary of which is being declassified and is expected to be released in the coming weeks.