New Books in Economics

Daniel Susskind, "Growth: A History and a Reckoning" (Harvard UP, 2024)

Jul 3, 2024

Author Daniel Susskind explores the history and impact of economic growth on human prosperity. He discusses the benefits and costs of our pursuit of growth, challenges the assumption that reducing growth will lead to better outcomes, and advocates for a more balanced approach that includes other success measures. Susskind emphasizes the importance of shifting to new ideas and working methods to continue pursuing growth while mitigating its high costs.

01:06:23

Episode guests

Daniel Susskind

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Episode notes

Podcast summary created with Snipd AI

Quick takeaways

Economic growth has lifted billions from poverty but comes with moral challenges.

GDP is a flawed measure of well-being; calls for a balanced 'dashboard' approach.

Susskind suggests pursuing growth through innovative ideas to conserve finite resources.

Deep dives

Growth Dilemma: Balancing Economic Prosperity and Environmental Impact

The podcast episode delves into the concept of the growth dilemma, where economic growth is recognized as essential for prosperity but also poses challenges such as climate change, rising inequalities, and disruptive effects of technologies like AI. Professor Daniel Susskind explains the tension between the promise and price of growth, leading to the concept termed the growth dilemma.

Intro

5min

The Evolution of Economic Growth Obsession

10min

The Power of Ideas in Economic Growth

7min

The Value of Sharing Ideas and Critique of GDP Measurement

11min

Reassessing Growth and Trade-offs

26min

Exploring the Pivotal Role of Artificial Intelligence and Growth

3min

Exploring Gardening Philosophy and its Connection to Rethinking Traditions

3min

Daniel Susskind examines the brief and powerful history of economic growth and puts it into perspective with human prosperity in Growth: A History and a Reckoning (Harvard UP, 2024).

Susskind acknowledges the tremendous benefits of economic growth, which he credits with freeing billions of people from poverty and allowing us to live longer and healthier lives. He also recognizes the real and substantial costs of our relentless pursuit of growth at the expense of other considerations and moral challenges.

Responding to the degrowth movement, Susskind counters the assumption that simply reducing growth will lead to better outcomes.

In particular, Susskind points out that our key measure of growth, GDP, is one imperfect metric that is neither intended nor effective as a proxy for well-being. He recommends a more balanced "dashboard" approach that includes GDP along with other success measures.

Reducing our myopic focus on GDP does not mean less growth. Susskind presents an alternate approach, arguing that we should continue to pursue growth through the creative application of new ideas that allow us to use our finite natural resources more effectively and efficiently.

Ideas, he points out, are not a scarce asset but an infinite one; by shifting to focus on new ways of thinking and working Susskind shows how we can continue to pursue the benefits of growth while mitigating the high costs.

Book referenced:

GDP: A Brief but Affectionate History by Diane Coyle

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New Books in Economics

Daniel Susskind, "Growth: A History and a Reckoning" (Harvard UP, 2024)

Episode guests

Podcast summary created with Snipd AI

Quick takeaways

Deep dives

Growth Dilemma: Balancing Economic Prosperity and Environmental Impact

Historical Shift Towards Economic Growth Measurement

Impact of Technological Progress on Work

Comprehensive Metrics Beyond GDP

Gardening Book Recommendation: 'Planting the Ulduv Gardens'

Remember Everything You Learn from Podcasts