Sunday, 14 October 2012

Small is Beautiful.

Today's Newsnet Scotland draws our attention to the IMF's Quarterly Statistical Report which indicates that the economies of...'small nations will outperform the UK'. The report goes on to say,
"The same figures also show that Ireland, Iceland and Norway have all maintained a higher GDP per capita than the UK throughout the duration of the economic downturn...

Additionally the statistics show that this wealth gap is predicted to grow further in the years ahead, as Westminster’s austerity cuts continue to bite.

Ireland, in particular, is set to outstrip the UK economy by a further 2% per annum for several years to come, taking the Irish economy almost 22% adrift of UK GDP by 2016.

This latest blow to Westminster’s economic credibility comes as the IMF’s Christine Lagarde warned against countries rushing to cut spending, stating “it’s sometimes better to have a bit more time”.
This is great news to Plaid Cymru and the SNP but don't expect the mainstream Unionist media including the Mule to report on these statistics.

Small is Beatiful: Economics As If People Mattered by E.F.Scumacher first published in 1973

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