Walton's Brown's 'methodology'
October 29, 2012Dear Sir,On September 20, 2012, in his weekly column in this newspaper, PLP Candidate and one-time Bermuda College Lecturer, Walton Brown, measured Bermuda's population growth. Using his Walton Brown Measurement Methodology [WBMM], he measured population growth by taking one measurement in 2000 [Census] and a second measurement in 2010 [Census].This gave Mr Brown a straight line that showed population growing from 62,059 in 2000 to 64,237 in 2010. From this, he concluded that Bermuda's population had grown and that there has been no loss of residential population.Following exactly the same methodology, and examining the just released GDP figures, all sensible people should apply the same WBMM. They should measure GDP in 2001 and measure GDP again in 2011.This would show that GDP was $3.68bn in 2001 and $5.56bn in 2011. This WBMM would therefore show a straight line growth of 51 percent in ten years. It would also show that there was no recession or decline of any sort. Just steady growth.Using the WBMM, one arrives, and arrives quite correctly, at these several conclusions: (a) There is no recession. (b) There has been steady economic growth. (c) The Department of Statistics is completely wrong in reporting that GDP is "down 3.5 percent in 2011". (d) That the entire business community is wrong in saying that there is economic shrinkage. (e) That all talk and writing and discussion, public and private, of an economic downturn is pure hokum intended only to embarrass the Government-of-this-day.I know Mr Brown to be an educated man. He holds an MA. He has lectured at our Bermuda College. I do believe therefore that if the people of this country, and, indeed, the Government-of-the-day adopted the WBMM, we could in one fell swoop eliminate this now provably mythical recession and just get back to life as normal.As a candidate for the PLP, Walton Brown's brilliant approach to statistics, economics, and national financial management should be followed. In fact, I believe that it is secretly followed by the party that he is standing for. I believe that Mr Brown has the solution to Bermuda's economic situation.The Walton Brown Measurement Methodology [WBMM] offers an easy and simple, and I must confess, elegant solution to all this "economic mess".LARRY BURCHALL