Sir, - I am getting a bit fed up reading your Business This Week section. One heading that particularly irritated me reads "Sixth year joy as GNP grew by 7.8% in 1999" (July 21st).
From a neo-classical economics viewpoint, I'm sure the champagne corks were popping. From a social viewpoint, you can bet your bottom ECU they were not. GNP does not record or factor in quality of life issues and certainly does not reflect such items as happiness, beauty and peace of mind. Ask any father these days if he has enough quality time with his children. Ask any first time house buyer if they feel comfortable with the financial exposure. Ask the homeless and the people on the hospital waiting lists are they joyful about the GNP news. Ask the environment, if you could, whether it likes deteriorating so rapidly.
Economists of course will immediately counter that a rising tide lifts all boats and that what's good for the goose is good for the gander. I'm sure Noah can attest to this, as he packed the last of his animals in as the rains fell, and watched the majesty of his land disappear before his eyes. - Yours, etc.,
Patrick Buck, Coolalta, Caum, Co Cork.