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Prosperity Without Growth?
“Every society clings to a myth by which it lives. Ours is the myth of economic growth. For the last five decades the pursuit of economic growth has been the single most important policy goal across the world. The global economy is almost five times the size it was half a century ago. If it continues to grow at the same rate the economy will be 80 times that size by the year 2100….
The myth of growth has failed us. It has failed the two billion people who still live on less than $2 a day. It has failed the fragile ecological systems on which we depend for survival. It has failed, spectacularly, in its own terms, to provide economic stability and secure people’s livelihoods…. a return to business as usual is not an option. Prosperity for the few founded on ecological destruction and persistent social injustice is no foundation for a civilised society. Economic recovery is vital. Protecting people’s jobs – and creating new ones – is absolutely essential. But we also stand in urgent need of a renewed sense of shared prosperity. A commitment to fairness and flourishing in a finite world.
…The challenge for our society is to create the conditions under which this is possible. It is the most urgent task of our times.”
Prof Tim Jackson’s thought-provoking paper was prepared for the UK Sustainable Development Commission. Read it here: Prosperity Without Growth?
The Commission’s web page includes background papers and anaysis that is useful in its own right, including a piece by Prof Herman Daly on the Steady State Economy.
