Economics Quote by Rutger Bregman

““Whereas public sector services often bring a plethora of hidden benefits, the private sector is riddled with hidden costs. “We can afford to pay more for the services we need – chiefly healthcare and education,” Baumol writes. “What we may not be able to afford are the consequences of falling costs.” You may brush this aside with the argument that such “externalities” can’t simply be quantified because they involve too many subjective assumptions, but that’s precisely the point. “Value” and “productivity” cannot be expressed in objective figures, even if we pretend the opposite: “We have a high graduation rate, therefore we offer a good education” – “Our doctors are focused and efficient, therefore we provide good care” – “We have a high publication rate, therefore we are an excellent university” – “We have a high audience share, therefore we are producing good television” – “The economy is growing, therefore our country is doing fine…” The targets of our performance-driven society are no less absurd than the five-year plans of the former U.S.S.R. To found our political system on production figures is to turn the good life into a spreadsheet. As the writer Kevin Kelly says, “Productivity is for robots. Humans excel at wasting time, experimenting, playing, creating, and exploring.””

— Rutger Bregman