Letter to the Editor: RI Economy

To the Editor,

The headline in the April 7 Providence Journal was “RI economy cools off in first quarter.”  It then quoted all the usual suspects as to why and how much. Inside the headline was  “Economy steady but not spectacular,” referring to the national economy. What the first article neglected to say was that despite all the phony stuff told us about how to make the economy grow faster in Rhode Island, the Rhode Island economy has a growth rate year in and year out of about 70% of the US growth rate. 71.4% over the last 5 years, and nearly every year, despite the gyrations of policy, very close to 70%. RI grows at 70% of the US growth rate because the national growth rate is skewed up by a system of measurement that calls resource depletion and pollution growth, without deductions for the harm the businesses are causing to communities. It is time for truth in journalism about what is really going on in the economy rather than continuing to quote those who ignore the larger context.

Greg Gerritt