This is the first entry in a continuing series.
Less than two weeks ago, a wonderful couple that I have befriended from work gave birth to a beautiful baby girl. I have been around many sets of new parents, but have yet to come across a couple who were as joyful, proud, and excited at the birth of their child as my friends (and this includes me!). In addition, both mom and dad are extremely disciplined, talented, driven people – so this child is destined to be something special.
So, what the heck is the problem?
Well, according to standard macroeconomics, the living standards and hence the quality of life of my friends has just plummted. To be exact, their “GDP per capita” has fallen by exactly one-third. There is something enormously problematic with a world view that incorporates the birth of a child as being a bad thing. Ironically, this couple also raises chickens. If they were able to hatch a new chick, the same economic orthodoxy would have their standard of living improving!
Something about that just ain’t right.