A Quote by Nigel Farage
We shouldn't measure everything in terms of GDP figures or economics. There is something called quality of life.
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Demand is best measured in terms of spending. You know, I think in traditional economics, it's a mistake to measure it in terms of the quantity of goods.
For any economy, there are two basic factors determining how many jobs are available at any given time. The first is the overall level of activity - with GDP as a rough, if inadequate measure of overall activity - and the second is what share of GDP goes to hiring people into jobs. In terms of our current situation, after the Great Recession hit in full in 2008, US GDP has grown at an anemic average rate of 1.3 percent per year, as opposed to the historic average rate from 1950 until 2007 of 3.3 percent.
The human world lives in a framework called global economics. We live in a system based on GDP, which drives consumption. it causes people to compete with each other through trade in a way that they all grow.
The Premier League is the No1 league in the world in many areas. The events, the shocks, the production, the viewing figures, the worldwide audience are by far the best. Do I think at this moment in time it's got the highest quality levels in Europe in terms of Champions League football and domination of that area? In quality terms it needs to rise again to get to that point where it's by far the best in all areas.
Interestingly, human irrationality is a hot topic in economics at the moment. Behavioural economics it's called, on the cusp of economics and psychology.
If I can save 25 billion dollars in terms of reduction of import, I will be adding one percent to the GDP. By conserving the oil energy by the people, the GDP will become 5.5 percent, and this will change the economy of the country.
If you are moving the informal economy into the formal economy, and if the transactions which for years were never reported as part of GDP are now transacted through banking channels, it will only add to the GDP, not reduce the GDP.
Today's market action is driven by the slower GDP growth rate. Despite oil being higher, I think the GDP kind of overruled everything and just makes the market feel better about what the Fed is going to do, or rather not do.
The problem is a lot of what is called economics is not economics. It is more ideology or religion.
The government of the United States, under Lyndon Johnson, proposes to concern itself over the quality of American life. And this is something very new in the political theory of free nations. The quality of life has heretofore depended on the quality of the human beings who gave tone to that life, and they were its priests and its poets, not its bureaucrats.
One of our biggest problems in terms of effectiveness is that we have hopes, but our opposition has interests. We measure everything against our hopes, including politicians that we are voting for or choosing amongst. We don't measure up to our hopes ourselves.
Economics comes easily to me, and we all seek out what we do well in life. I had in mind becoming a businessman. And I was good at logic and reasoning; figures were comfortable inside my head.
One of our biggest problems in terms of effectiveness is that we have hopes, but our opposition has interests. We measure everything against our hopes, including politicians that we are voting for or choosing amongst. We don't measure up to our hopes ourselves. How can we expect anybody else to?
What do we measure when we measure time? The gloomy answer from Hawking, one of our most implacably cheerful scientists, is that we measure entropy. We measure changes and those changes are all for the worse. We measure increasing disorder. Life is hard, says science, and constancy is the greatest of miracles.
In Beverly Hills, it's very spoiled in terms of the quality of life. I think the climate and the space and the quality of life in Beverly Hills is exceptional.
My secret pleasure is painting these little mini figures that you send into battle - they're called Warhammer figures. It's the nerdiest thing in the world, but it's a lot of fun. It's relaxing; that's the main reason I do it.
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