These are the CASSE blog articles on economic growth.
Over the last week of January, it was hard to miss the headlines: “Reddit vs Wall Street,” “Reddit Sparks Wall Street Crisis,” “The Reddit Traders Who Took On Wall Street’s Elite.” The GameStop phenomenon, fueled by the Reddit forum “WallStreetBets,” was pitched as a David vs Goliath story where a group of ordinary citizens took on the elites and won.
On September 23, 2019, a 16 year-old girl fearlessly sent a message to world leaders at the UN Headquarters: “We’ll be watching you.” Though Greta Thunberg had become a household name at this point for her school-strike movement, this speech would mark her as the voice of a generation, garnering 4 million views and a designation as “Time’s 2019 Person of the Year.” Though her whole speech is moving,
To most people, the idea of a steady state economy is misunderstood at best and completely unknown at worst. Outside of economic, environmental, and academic circles, steady staters are hard to come by. The idea of a steady state economy is not yet mainstream and is shied away from in the media, general politics, education, and culture. Economic growth has been sold to generations as the remedy to all our ailments.
In a world of vexing issues—and our topic this week is certainly that—population growth might just be the most ironic. That’s because it should be among the simplest of issues; almost trifling in its mathematics. Yet opinions about it are beset with political, economic, and even some technical controversy.
For steady staters it seems perfectly clear: Population must be stabilized for the sake of societal well-being and even mere sustainability.
“Orthodoxy, Autocracy, and Nationality.” Those were the principles that underlaid most of the Tsarist governments in the final 80 years of Romanov rule. It was a slogan and a belief system, Russia’s version of “liberté, égalité, fraternité.” Eventually, under the leadership of a poor autocrat, Nicholas II, it would lead to the Russian Revolution and the brutal murder of Nicholas and his family. Yet between its coining in 1832 and the Revolution in 1917,
People use narratives to support their position, and narratives can serve three purposes. First, they tell a story of belonging. If you meet a stranger and realize you are from a common area, you more easily engage in conversation than otherwise. Second, they describe norms that guide our actions. Most people in society follow certain norms such that by doing so, they are accepted as part of the group. Third—and most relevant to advancing the steady state economy—we use narratives to describe and learn about how the world works.
1.8 million pounds.
That’s how much the UK government thinks our lives are worth.
Placing an economic value on a human being is nothing new. It’s standard practice in a growth-obsessed society that ascribes economic value to whatever it can.
Last week the UK’s COVID-19 death toll broke the 50,000 mark. With our own wild-haired leader of the post-truth era at the helm,
Spotting a “Road Work Ahead” sign is enough to make any driver groan or nervously clutch her steering wheel. These warnings are meant to ensure people’s safety, yet they often also come with a myriad of traffic problems: congestion, noise, car wrecks, etc. In cities especially, orange cones are littered everywhere, causing copious delays and all for the sake of further “improvement” projects.
While infrastructure repair is an ongoing necessity,
We now have a 46th President-Elect, with Joe Biden promising to restore the soul of America. What does it mean for advancing the steady state economy as the sustainable alternative to growth? And what did we learn in the process?
I for one ended up with egg on my face, if not a whole omelet, by calling Trump a lame duck way back in early August.
The saying “you are what you eat” is clearly true to a great extent, but there’s more to the story. The food we consume not only affects our being directly, but also the environment and the economy—and therefore us indirectly as well. Eating more vegetables and less meat and dairy is better for the health of most individuals here and now, and certainly for the health of the planet, now and for the long run.