Saturday 1 June 2019

Inevitably, national growth economies reach a point where many citizens begin to suspect that growth is no longer worth the cost

I just needed to read something of pure intellect to clear my mind. So here is my sharing today - food for thought, if you enjoy this kind of thing {I do!}

Inevitably, national growth economies reach a point where many citizens begin to suspect that growth is no longer worth the cost of excessively rapid adaptation to an accelerating economy of no return—that so-called economic growth has in reality become uneconomicgrowth. John Stuart Mill recognized that long ago. Why have not more recognized it? Why is growth still the summum bonum of economists and politicians? Probably because growth is our substitute for sharing as a cure for poverty. And because our national accounts (GDP) are incapable of even registering uneconomic growth because they count only value added by labor and capital, and omit entirely the cost of using up that to which value is added, namely the entropic flow of natural resources, the very sap of life and wealth.

More at http://www.pelicanweb.org/solisustv15n06page14.html

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