Clean drinking tap water for every home - the stark contrast between China and India

04/05/2023

What this tells one is that GDP requires a new indicator which is Quality GDP which will mean that if you pollute rivers and air then real GDP as an economic concept is totally inadequate even useless, unless one subtracts from that economic GDP number the amount of investment it would take to clean up the rivers or the air. If regulatory agencies cannot control industries from polluting rivers, the case in China, then an additional number has to be subtracted from economic GDP called regulatory deficiency adjustment. The GDP numbers were gained through indiscriminately burning fossil fuels and this means climate change damage so that to be correctly stated China's GDP number would have to be offset by deducting the adjustment for trillions of dollars in climate change correction action. This would shrink the gap between India and China's GDP to where India may be in a position using advanced technology, renewable energy, regulation, and large foreign investment to close the gap with China in the next 10-15 years. China could also benefit because of the new approaches taken by India could be something to learn from as the two countries each have the population of the EU and the US+ Canada combined.

Linked Articles

In China, the water you drink is as dangerous as the air you breathe | Deng Tingting

The Guardian 06/02/2017

Hindustan Times 04/05/2023

The accounting errors in U.S. president Trump's 2017 budget with double counting of $2.1 trillion

05/25/2017

Linked Articles

Donald Trump’s Balanced Budget Goal Rests on Questionable Math

WSJ 05/23/2017

Nick Timiraos

The New York Times 05/24/2017

Binyamin Appelbaum

The U.S. Supreme Court's review of the health care law in 2012 and the Wickard-Filburn decision of 1940

11/15/2011

In the Wickard-Filburn decision the U.S. Supreme Court unanimously ruled against an Ohio farmer, Mr. Filburn, who questioned a federal law that imposed a penalty for every extra bushel of wheat grown beyond a stipulated amount. The briefs presented by both parties present arguments about what are the limits of federal power under its powers to regulate interstate commerce and in what circumstances- with the Obama administration arguing that it imposes larger costs on people in all states if some people refuse to buy insurance.

Linked Articles

At Center of Health Care Fight, Roscoe Filburn's 1942 Case

New York Times 03/19/2012

Adam Liptak, Adam, Liptak

New York Times 11/15/2011

Einer Elhauge, Einer, Elhauge

Angela Merkel's experience with the reunification of East and West Germany and her views of the eurozone crisis

01/30/2011

The perceptions of the eurozone crisis of ordinary Germans and of former East German Angela Merkel are colored by the period of reunification of the two Germany's. This was paid for with a"solidarity surcharge" tax paid by Germans amounting to $1.7 trillion and led in its early stages to 4 million unemployed in the eastern part and 20% unemployment. It took over a decade for East Germany to build new modernized industries in the larger cities of the east, but still leaves the rural parts of former East Germany in a neglected state as young peoplemoved out. During this period industry in the west also regained lost global competitiveness, especially in industries such as automobiles and advanced machinery, using wage restraint agreements with unions and increases in productivity. Germans see the need for eurozone countries in the southern part of Europe needing to make similiar sacrifices and see the tax evasion in Italy and Greece as unacceptable. The real estate bubble, the lack of transparency for banks bad loans, and out of control regional spending in Spain is also seen in a similiar light. Greece is seen as the most egregious offendor because of the bad financial accounting that grossly understated the extent of the bad loans. Less publicized in Germany is the role played in the bad loans through poor lending practices of German and French banks and that as experts have pointed out Germany was to some extent bailing out German banks when it was bailing out Greece- till German banks reduced their exposure to Greece in 2011.

Linked Articles

In former East Germany, anxious residents resent paying for Europe’s problems - The Washington Post

Washington Post 06/21/2012

Michael Birnbaum, Michael, Birnbaum

New York Times 01/30/2011

Jack Ewing, Jack, Ewing, Katrin Bennhold, Katrin, Bennhold

Greenspan and his philosophy that let him take such an ambitious experiment in unrestrained markets.

04/08/2008

Grennspan took huge risks in his ambitious experiment with the American economy of a philosophy that simply said allow markets to operate unrestrained and trust in humans benevolent intentions and enlightened self interest. Goodman and Ip document the details. Did he believe that there was something miraculous that would prevent things from imploding, something inherently sacred about an idea of markets, when plain common sense like Buffets said that the arithmetic did not add up and in the end thats all that counts common sense.

Linked Articles

Taking Hard New Look at a Greenspan Legacy

New York Times 10/09/2008

Peter S. Goodman, Peter, S., Goodman

Wall Street Journal 04/08/2008

Greg Ip, Greg, Ip