One of the most difficult adjustments industrial-country citizens will make in the steady state economy is accepting limits on our activities. Steady state economies will not be the Wild West, beyond the frontier where anything goes. We will learn to live within limits, a difficult reality for peoples accustomed to an open-ended understanding of freedom. In a “full world” where we bump up against the limits of our planet’s resources,
Can businesses become sustainable? Certainly—at least in theory. In recent years, new business models have emerged that attempt to place business on an ecologically healthy footing. The doughnut economy, the regenerative economy, sufficiency enterprises, and postgrowth and degrowth businesses: These and other experiments represent ways of doing business that not only create customer and firm value, but address social and environmental needs as well.
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.
There are physical limits to growth on a finite planet. In 1972, the Club of Rome issued their groundbreaking report—Limits to Growth (twelve million copies in thirty-seven languages). The authors predicted that by about 2030, our planet would feel a serious squeeze on natural resources, and they were right on target.
In 2009, the Stockholm Resilience Center introduced the concept of planetary boundaries to help the public envision the nature of the challenges posed by limits to growth and physical/biological boundaries.
Heads of state and top economists actively discussing and debating a post-growth economy? Now that’s progress!