Continuing to grow the economy when the costs are higher than the benefits is actually uneconomic growth. The United Nations has classified five types of uneconomic growth:
- jobless growth, where the economy grows, but does not expand opportunities for employment;
- ruthless growth, where the proceeds of economic growth mostly benefit the rich;
- voiceless growth, where economic growth is not accompanied by extension of democracy or empowerment;
- rootless growth, where economic growth squashes people’s cultural identity; and
- futureless growth, where the present generation squanders resources needed by future generations.
The downsides of economic growth can be avoided by maintaining an optimal scale of the economy.
Monday, November 29, 2010
Downsides of Growth « Center for the Advancement of the Steady State Economy
this is from richard daly's website. I also have been looking into Marc Lavoie and Georgescu-Roegen.