Summary by Searle Whitney, November 23, 2010
We would like to stop population growth at a sustainable level, but one of the most serious concerns about doing that is the economy. Can we have an economy that provides prosperous lives for the country's and the world's peoples if the population stops growing?
Two groups that regularly address this question, Center for the Advancement of the Steady State Economy (CASSE) and Economic Justice for All recently co-sponsored the first Steady State Economy Conference in Leeds, UK on June 19, 2010.
Click here for the full report or here for a 10 page summary, but briefly,
Part One describes why economic growth has become uneconomic — dangerously so — and describing the alternative: economic degrowth toward a steady state economy.
The Environmental Limits to Growth: we are harvesting resources like forests and fish faster than they can regenerate, and we are producing wastes like CO2 faster than they can be absorbed.
The Diminishing Social Returns of Economic Growth: The economic output per person has more than tripled in countries like Britain and the U.S. but people report the same level of happiness. The same is true when comparing countries, once basic needs are met, increased
economic growth has not solved the problems of unemployment and hunger.
The Desirable Alternative to economic growth is a steady state economy which focuses on sustainable scale, fair distribution, efficient allocation and a high quality of life.
Part Two Enough is Enough examines ten key areas where change is needed to achieve a steady state economy; We must:
- Limit resource use and waste production
- Stabilize population
- Limit inequality, it's not efficient.
- Reform the monetary system so that "inflation" = growth, is not built-in to the creation of money.
- Change the way we measure progress. GDP treats the costs of war, pollution and crime the same as food & education. A better measure would include the environment, the economy & well-being.
- Secure full employment; we've increased productivity and now need to decrease work time.
- Rethink business and production to operate within resource and environmental limits. Firms should aim for "right-size" profits.
- Improve global cooperation. The developed nations overuse global resources and need reduce usage. Tariffs can be used to protect industries in steady state economies from competition with industries where environmental and social costs are not being internalised.
- Change consumer behavior. Appeal to love, connectedness, friendship, spirituality and creativity rather than hedonism, status and achievement.
- Engage politicians and the media to discuss steady state alternatives to constant economic growth.
Part Three discusses how to begin the economic transition. Productivity gains should be used to reduce unpleasant work, but not to displace the work that brings joy and meaning to people's lives. Moving forward requires publicising the downsides of "growth" and the upsides of a steady state economy, realizing that economic "laws", unlike the laws of gravity, can be changed.
Click here for the full report or here for a 10 page summary.
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