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Econation Blog
The bankruptcy of growth
We are duped by the ideology of economic growth. Growth for the sake of growth is a bankrupt idea and yet people are inculcated with it at home, at school, at work, everywhere, throughout our whole lives. Relentless economic growth doesn't add meaning or happiness to peoples' lives. Studies have shown that once countries reach a certain level of economic productivity general happiness does not increase. Most western countries reached this high level of happiness about fifty years ago and yet their economies have continued to grow in that time. If the purpose of an economy is to make people happy, as the economist David Landes suggests, why do we need continued growth when we are already happy? Economic growth has numerous negative affects such as environmental degradation, social inequalities and, ironically, ‘uneconomies’
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Posted by Michael Lockhart on 11th June, 2010 | Comments | Trackbacks
Tags: General Sustainability
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