Politicians and economists promise growth, prosperity and higher standards of living. What do they mean by these terms? Are there good, relatively objective measures by which to judge whether people in a country expect technological and political innovations (including fiscal ones) to be beneficial and lead to the creation of more wealth? How can we be sure that a financial innovation, a change in company strategy or a change in government policy makes a society better or worse off?
(McGill's Reuven Brenner - Part one of a four-part series)