Adbusters: Occupied Economy – A brief history of the first corporate century
“It is impossible for the world economy to grow its way out of poverty and environmental degradation,” writes the resource-minded economist Herman Daly, because the economy is a “subsystem of the earth ecosystem, which is finite, non-growing and materially closed.” And economists think the solution to our problems is more growth? We’ve been terribly misled. But more development – that’s a different proposition. “Grow” means to increase in size by adding. “Develop” means to realize potentials, to make better. Because the world is pretty much fully tapped, growth now threatens development. In a postgrowth world, we’d measure things like community and satisfaction. We’d replace the feverish tail chase of the material with life, liberty, and the pursuit of happiness. Those come from development, not from growth. Let’s not confuse the two .. Edward Abbey long ago observed that growth for the sake of continuous growth is the strategy of cancer. Knowing what we now know, it appears that the world can’t produce enough to grow our way out of poverty. But we could certainly shrink our way out
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This entry was posted on Saturday, February 18th, 2012 at 8:58 AM and filed under Articles, Economics, History, Peace. Follow comments here with the RSS 2.0 feed. Skip to the end and leave a response. Trackbacks are closed.
One Response to “Adbusters: Occupied Economy – A brief history of the first corporate century”
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Great piece, really one of the few times we have read anything as prescient. mb
Posted on 18-Feb-12 at 4:27 pm | Permalink