On this Degrowthursday, please enjoy a gentle introduction to the concept provided by Steady State Manchester (@steadystatemcr)...
The way our economy is organised at present is unviable because it depends on endlessly growing in size to sustain itself and maintain a semblance of social stability. This growth, at a preferred three percent per year, is regarded as exponential, growing like compound interest. Three percent per year would mean an economy that doubles in size every 27 years, or increases eight-fold in an average Western lifetime. It is not surprising that critics of economic growth liken it to the pathological growth of a tumour, rather than healthy growth that reaches a natural limit.
This requirement for infinite growth is ecologically unviable: there is no evidence that it is possible for economic activity to be separated (decoupled) from the amount of energy and physical material moving through the global economy. It is therefore incompatible with the finite nature of the planet and the environmental resources which support human life.
An economy that is ecologically, socially, and economically viable requires redesign to ensure economic activity is based on what is socially useful while restoring and maintaining ecological assets. The fudges of ‘good growth’ and ‘green growth’ are not sufficient; the economy is viable only when it is able to function without growing in overall size.
Real increases in productivity and technological improvements must be shared as improvements in quality of life. This includes reductions in work hours and opportunities for increased activities that need not make a profit but have value for individuals and communities.
The statement excerpted above was written in part by Mark Burton (@markhburton), an excellent person to follow!
LEARN MORE ➡️ https://gettingreal.org.uk/2024/07/14/what-no-growth/
[#]Economics #Environment #Climate #ClimateChange #ClimateJustice #Degrowth
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