There are some, myself included, who believe that the U.S. is now experiencing uneconomic growth. If one could measure and add up all the environmental, security, social and psychological costs that U.S. economic growth generates at this point in our history, they would exceed the benefits of further ramping up what is already the highest GDP per capita of any major economy.
Though not widely accepted, the case is strong that growth in the affluent U.S. is now doing more harm than good. Today, the reigning policy orientation holds that the path to greater well-being is to grow and expand the economy. GDP, productivity, profits, the stock market, and consumption must all go up. This growth imperative trumps all else. It can undermine families, jobs, communities, the climate and environment, and a sense of place and continuity because it is confidently asserted and widely believed that growth is worth the price that must be paid for it...
It is time for America to move to post-growth society where the natural environment, working life, our communities and families, and the public sector are no longer sacrificed for the sake of mere GDP growth; where the illusory promises of ever-more growth no longer provide an excuse for neglecting to deal generously with our country’s compelling social needs; and where true citizen democracy is no longer held hostage to the growth imperative.
Friday, June 3, 2011
Yale Environment 360 today tackles the question of whether our focus on economic growth harms our well-being. James Gustav Speth wrote: