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.

Uneconomic Growth

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.

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