Date: 2024-08-16 Page is: DBtxt003.php L0700-II-NO-GROWTH-PROSPERITY
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INTERESTING EMERGING IDEAS
NO GROWTH PROSPERITY A critical idea for a sustainable future |
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NO GROWTH PROSPERITY ... A critical idea for a sustainable future
For most of the time period of the industrial revolution, the conventional thinking in economics was that more is always better. When there was not enough food to eat, more certainly was better. Economic thought has been based largely on the idea that economy is good, and having more is the goal. The focus of economic policy options has been driven by these conventional ideas and use of economic growth to create financial wealth. The depletion and the degradation of natural capital has not been part of the equations. During the last 40+ years a lot of the basic premises of economics have changed, and particularly the switch from a world where there were terrible shortages to a world where there is material abundance. Rich mature economies no longer need economic growth in order to have and consume all the material products that is good for people ... but this does not work well for the financial economy and corporate profits where more sales translates into more profits and more financial wealth. |
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