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All governments and their electorates need a National BSC – Balanced Score Card
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One which focuses on the few key result areas that matter most at national level to the people at large
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One such as proposed in the diagram below
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Clearly, well-being and productivity take centre stage here, with a government’s priority being national productivity improvement i.e. getting more goods and services out of existing labour, indigenous and imported materials, and capital resources available
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Not only that, national productivity is not even measured well:
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The GDP/ Labour or Hours worked measures are both seriously flawed – their focus is on labour productivity alone, and significant errors in quarterly GDP figures are well-known and rife making any claims of a 0.1% change versus last quarter, say, less than credible
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And, given the enormous cost of compiling them, they never seem to be disputed by leading academics, economists and newspaper editors – they even use them as a firm basis for justifying their many, various and often differing theories and/ or headlines
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So what use are national productivity measures?
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They mean nothing to managers on the front line
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They offer ministers no clues as to where best to act and who to support given the data are aggregates of aggregates of aggregates – it seems they only interest politicians when they make them look good and so more electable
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The conclusion is obvious?
