Will the end of economic growth come by design — or disaster? | Gaya Herrington
Dec 9, 2024
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In this insightful discussion, Gaya Herrington, an environmentalist and economist, challenges the notion of endless economic growth. She advocates for reimagining our economy to prioritize well-being and sustainability over mere growth. Herrington explores the paradox of growth, its detrimental impacts on society and the environment, and proposes cooperative models that empower communities. By shifting our focus to 'enough for each,' she inspires a vision for a more equitable and sustainable future, asking whether we can achieve this transformation by design rather than disaster.
The podcast challenges the traditional belief that economic growth is synonymous with progress, urging a reevaluation of priorities towards well-being and ecological sustainability.
It emphasizes the importance of redefining success by adopting a framework that values resource sharing and limits on growth to ensure a harmonious society.
Deep dives
Reassessing Growth and Progress
The podcast highlights the misconception that growth is synonymous with progress. It examines how our economic system prioritizes growth over addressing critical issues like poverty and environmental degradation. Historical context is provided, illustrating that growth was not always viewed as a moral goal, yet over time it has become ingrained in our policies and collective mindset. This shift has resulted in concerning ecological and social outcomes, which prompt a need for reevaluating what constitutes true progress in society.
The Necessity of Enough
The idea of 'enough' is explored as a core principle for societal and ecological well-being. This concept advocates for establishing limits on growth, ensuring that resources are shared equitably while meeting both human needs and protecting the environment. Emphasizing that a focus on constant expansion is detrimental, the discussion points out that redefining success to prioritize well-being can lead to a more sustainable and harmonious society. This shift is vital for avoiding societal breakdown and establishing a lasting, fulfilling future.
Pathways to a Well-Being Economy
The discussion presents actionable solutions aimed at transforming the current economic paradigm into a well-being economy. It suggests that while developing countries may still pursue green growth, wealthier nations should shift their focus towards reducing ecological footprints and sharing resources more equitably. Examples of cities implementing post-growth frameworks and companies prioritizing people and the planet demonstrate that such a transformation is feasible. By adopting policies that genuinely promote well-being rather than unchecked growth, society can cultivate a sustainable future that maximizes both individual and collective prosperity.
What if solving poverty, caring for nature and fostering well-being were the ultimate goals of the economy, instead of growth for its own sake? Environmentalist and economist Gaya Herrington proposes a shift in thinking from "never enough" to "enough for each," asking us to contemplate whether the end of exponential growth on a finite planet will come by design — or disaster. After the talk, Modupe discusses what this mindset shift can unlock for humanity.