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Jeffrey Sachs on Economics for a Crowded Planet

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Previous FORAtv comments:
psikeyhackr Avatar
Posted: 07.15.08, 09:50 AM
GlobaLIES1 GlobaLIES2 Sorry, I forgot
psikeyhackr Avatar
Posted: 07.15.08, 09:46 AM
More Missing Data
24 minutes into the video Sachs talks about Harvard not teaching economics that takes resources into account. That is not the only thing missing from their equations. When those resources are used to make cars for consumers they are added to GDP when they are sold. But cars wear out, therefore they depreciate. Shouldn't they then be subtracted from somewhere? Economists don't mention NDP very much. They only subtract the depreciation of CAPITAL GOODS . Economists can't do algebra. Americans must lose at least $300 BILLION in depreciation on cars every year, but economists say nothing about that. What has planned obsolescence contributed to global warming over the last 50 years? But economists don't use that term either. Where does the DEPRECIATION of Consumer Goods fit into economic theory. Double entry accounting is 700 years old. Why can't everyone do it with today's computers? I haven't heard economists suggest mandatory accounting in the schools.
jimbob6986 Avatar
Posted: 05.02.08, 10:12 PM
Having followed Sachs for a few years i can't help but notice his major change in demeanor. The optimism of 'the end of poverty' is gone. he looks and speaks like a man who knows and has seen too much.
ppra Avatar
Posted: 04.23.08, 06:55 PM
Cannot see or download the video.

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