The Economy, Stupid
Global Growth: The Benefits vs The Consequences
May 2, 2024
Daniel Susskind, Research Professor in Economics at King's, discusses the tension between benefits and consequences of economic growth. Topics include rethinking economic growth metrics, updating intellectual property laws for innovation, R&D investment for progress, and exploring optimism amidst global growth perspectives.
29:06
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Quick takeaways
- The pursuit of economic growth has brought prosperity, health, and education, but also negative consequences on the environment and society.
- The concept of directed technological change through R&D and innovation can shape sustainable economic growth and address societal challenges.
Deep dives
The Importance of Economic Growth
Economic growth is crucial for prosperity and living standards. However, the pursuit of growth has both delivered benefits like health and education and raised concerns due to its impact on the environment, inequality, and societal challenges. There's a tension between the desire for more growth to address economic hardships and the need to address the negative consequences of growth on various aspects of society.
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