
What is it: When GDP was first advanced, its proponents vociferously argued that GDP should never be used by politicians as a measure of societal success, which of course politicians duly did and have done ever since ad now we belive that economic growth is a de facto ‘good thing’.
So we now embrace strong, continuous economic growth forecasts as a ‘good thing’ …whilst strong, continuous biological growth is called cancer. Some like David Suzuki argue that economists are dangerously out of kilter with the natural order of things.
In 1972, the seminal book Limits to Growth by a group called the Club of Rome claimed that exponential growth would eventually lead to economic and environmental collapse. Most economists rubbished the book, but a growing band of experts today continues to argue that we need to reshape our economy to become more sustainable. A CSIRO scientist has compared the book’s predictions with the latest data and confirms the data is in line with the predictions.
Why is it cool: We must get off the growth path of business as usual, and move to a steady state economy, stopping population growth, resource depletion, and pollution. Changing our view of economic (or even societal) success from being about “growth as success” to being about “steady state as success” is the challenge of the 21st century.
Where to find it: here and here!
Submitted by: Howard Parry-Husbands and John Cucka