On Point | Podcast cover image

On Point | Podcast

An economist's vision of economic growth -- with less destruction

Sep 6, 2024
Daniel Susskind, an economist focused on sustainable growth, dives into the limitations of GDP as a measure of success. He argues that while economic growth has improved living standards, it has also harmed the environment and increased inequality. Susskind suggests that we should pursue less destructive forms of growth, balancing prosperity with ecological health. He critiques traditional metrics and emphasizes the importance of alternative measures that reflect social well-being and environmental sustainability. Can growth thrive without destruction? He explores this pressing question.
47:07

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Quick takeaways

  • The pursuit of GDP growth has historically improved living standards and job creation, yet has led to significant environmental degradation and inequality.
  • A shift towards less destructive growth is proposed to balance economic progress with the crucial need for sustainability and community welfare.

Deep dives

The Current State of the Economy

The discussion highlights the continued growth of the U.S. economy, with recent figures indicating a GDP increase of 3.7% in the second quarter. This performance raises optimism about the potential for even higher growth rates, which many believe are necessary for overall societal well-being. Growth is often viewed as crucial for improving living standards, job creation, and health outcomes within the population. However, this relentless focus on GDP growth also underscores the need for a growth-oriented fiscal policy to avoid polarization and dysfunction within society.

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