Scottish Economy Watch

Innovation not stagnation

Good article I have just noticed in today's online Herald by University of Strathclyde colleague Colin McInnes. Colin argues that neither the current slump nor growth scepticism, for product saturation, equity, or environmental reasons, should make us adopt a stagnation, or zero growth, aspiration. He argues:

Ultimately, the zero-growth outlook is simply a limit-setting view. Arguing that growth should cease at this entirely arbitrary juncture of history displays a degree of apocalyptic angst. Insisting we need to regress to a simpler way of life displays a degree of contempt for future generations.

We should aspire not to a future of eternal stagnation, but to an upswing of innovation-driven growth which can deliver both shared prosperity and the means to de-couple human needs from the environment.

I couldn't agree more. Go read the piece.

Why this blog?

I have for some time felt the need to comment more frequently on developments in the Scottish economy. I write the Outlook & Appraisal for the Fraser of Allander Institute's Economic Commentary, which appears every four months. I write an occasional article for the Scotsman and other Scottish newspapers, make one or two appearances on Newsnight Scotland and other news related programmes and give many comments and quotes to journalists. All of this I enjoy and I hope it continues. However, I feel the need to make more frequent and occasionally more in-depth comments than is possible either on television or in quotes to journalists. We are in momentous times. The recent Great Recession and weak recovery, the Eurozone crisis, the movement towards further devolution in Scotland and the ensuing policy debates and policy conflicts means that there is much to comment on. These issues are well covered in the Scottish media. However, I believe that I can make a positive contribution to these debates by offering the perspective of an informed, independent economist. Hence this blog.

Watch this space!