Monday, 8 September 2008

Economics, Morality & Terminology

Bluematter has composed this list of the moral content of economic terminology in the "popular press." Not sure I agree with the last one - depends upon how it's framed. Also: note the lovely contradiction between weak national currency and exports. Can you find any others?

Foreign direct investment (inbound): Good
Current account deficit: Bad
Trade deficit: Catastrophic
Capital account deficit: Not used. Presumably bad.

Weak national currency: Bad
Exports: Good
Imports: Bad

Rising house prices: Good
Falling house prices: Bad
Affordable houses: Good
Unaffordable houses: Bad

Free trade: Neutral
Unfettered free trade: Bad
Fair trade: Good
Outsourcing: Evil
Buying local produce: Divine

Pay rises: Good
Low interest rates: Good
Inflation: Bad

Communism: Very Bad
Socialism: Bad
Capitalism: Bad

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