Open to Debate

Does Economic Growth Cost Too Much?

11 snips
Oct 20, 2023
Exploring the costs of economic growth like environmental damage, health issues, and inequality. Differing perspectives on growth and well-being. The importance of technology in conserving the planet. The political risk cost and foregone innovation of the de-growth movement. Challenging the idea of economic growth costing too much. Expressing gratitude and signing off.
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INSIGHT

GDP Misleads On True Well‑Being

  • GDP often counts spending that responds to harm as economic 'growth' rather than welfare improvement.
  • GDP also omits environmental damage, health harms, and inequality that reduce real well-being.
INSIGHT

Alternative Metrics Reveal Divergent Trends

  • Measures like the Genuine Progress Indicator show well‑being can stagnate despite rising GDP per capita.
  • In many countries GDP rose while GPI and happiness peaked decades earlier.
INSIGHT

Growth Drove Historic Human Progress

  • Two centuries of growth dramatically reduced absolute poverty and raised life expectancy worldwide.
  • Katherine Mangu‑Ward argues these gains show growth's central role in modern human progress.
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