Intelligence Squared
Can We Live Well Without Economic Growth? - Part 1
Jun 11, 2023
Join Kate Raworth, creator of the doughnut model, Helen Thompson, a political economy expert, and Bim Afolami, a Conservative MP focused on renewable energy, as they explore whether we can thrive without economic growth. They discuss the necessity of revising our understanding of prosperity, emphasizing sustainability and social equity over GDP. The trio critiques the relentless pursuit of growth and advocates for innovative economic models that prioritize well-being, pushing for an inclusive dialogue that challenges traditional economic narratives.
35:11
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Quick takeaways
- Prosperity can be achieved without economic growth by redefining success metrics.
- There is a need to shift towards sustainable development to address resource constraints and climate issues.
Deep dives
The Need for Economic Growth for Prosperity
Economic growth is considered essential for achieving prosperity, defined as improved living standards encompassing health, education, leisure, family life, and overall well-being. The aftermath of the financial crisis highlighted the significant impact on living standards and the necessity of economic growth. The discussion emphasizes the importance of effective state capacity combined with private sector initiatives to generate higher growth and enhance prosperity for all.
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