TED Talks Daily Will the end of economic growth come by design — or disaster? | Gaya Herrington
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Oct 18, 2024 Gaya Herrington, an environmentalist and economist, argues for a fundamental shift in economic thinking from relentless growth to prioritizing well-being. She discusses the paradox of rising wealth alongside ongoing poverty and pollution. Herrington critiques GDP as a measure of success, warning against the unsustainability of perpetual growth. She advocates for a post-growth economy focused on equality, sustainability, and community wellness, suggesting that we either embrace this new model or face the dire consequences of unchecked expansion.
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Growth as a Goal
- Societal problems persist despite advancements because economic systems prioritize growth over well-being.
- Growth became a primary goal relatively recently, influencing policy and mindset.
Limits to Growth
- The 1972 "Limits to Growth" study predicted societal breakdown around the present day due to unchecked growth.
- The study's authors, initially dismissed, highlighted the dangers of exponential growth on a finite planet.
Growth's End
- Data aligns with the "Limits to Growth" business-as-usual scenario, showing growth halting around 2040.
- Avoiding breakdown requires abandoning the growth pursuit and prioritizing human needs and nature.
