Date: 2024-02-28 Page is: DBtxt003.php txt00004491
When I first learned of the Calvert-Henderson Indicators, I was optimistic that they would serve to help real world decisions makers, but over time they have been used as the underpinning for the macroeconomic overview where politicians argue about policy, and nothing meaningful gets done.
I am reminded of World Bank macro-economic analysis that would be enthusiastic about GDP growth of 2% in poor third world countries when in my view there should have been an increase of $200 per capita per year ... or about 100%. My view was based on practical possibilities of reducing poverty at the community level, without involving government and all its ways to convert good money for beneficiaries into family wealth for politicians.
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