Quote of the day

September 9, 2015

. . .The ultimate purpose of public policy is to help people live better lives, now and into the future. To this end, good policy focuses on ensuring that the wellbeing-generating capacity of capital assets is sustained or enhanced, and shared, which is to say: not eroded by current generations at the expense of future generations (sustainability); is shared in a manner consistent with sustaining or enhancing the capital base (equity); that no particular social group(s) impose their concepts of wellbeing on others, respecting others’ rights to live the kinds of lives they have reason to value (social cohesion); that comprehensive wealth is protected against major systemic risks (resilience); and that the material wellbeing generating potential of capital assets is enhanced (to underpin the economy’s capacity to sustain higher growth). . . – Girol Karacaoglu in The New Zealand Treasury’s Living Standards Framework – Exploring a Stylised Model.

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