Brian Domitrovic
certainly is correct that the effort by European politicians to replace
gross domestic product with "gross domestic happiness" (GDH) is a
transparent attempt to hide the adverse economic effects of their own
policies ("Europe's
GDP Envy," op-ed, June 1). Why European populations would believe
ever-phonier government statistics rather than their own everyday living
experience is a question worthy of the Marx Brothers.
But Mr. Domitrovic's
argument that even the American-European GDH gap would grow because such
"nondepreciable" capital as computer software does not need
replenishment is exceedingly weak. Intellectual capital may not
depreciate physically, but depreciate it does, as better and more
advanced substitutes are invented. There is, after all, no need to
invest in maintenance of, say, Windows 98, and no market reason to do
so. The American/European GDP gap instead is the result of long-term
differences in economic policies, which the Obama administration is
attempting to eliminate, and no phony refocus on "happiness" can change
the overwhelming effects of economic incentives.
Benjamin Zycher
Pacific Research Institute
Agoura Hills, Calif.
A gross domestic
happiness index to replace gross domestic product in Europe? Is this
meant to be a serious proposal or has "Monty Python's Flying Circus"
crew devised a 21st century equivalent of the Ministry of Silly Walks?
Hugh M. Ryan
Barrington, R.I.
Keith Burgess-Jackson, J.D., Ph.D. 