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End of Growth

Persistent economic growth lies at the heart of the functioning of the global economy. Continuous increases in the level of consumption, investment and exports is the fuel required to keep the wheels turning and, ostentatiously, the welfare increasing.

For decades, continued economic growth has been widely understood as both viable and desirable. Yet, in the face of a global slowdown in growth, heightened concerns over the distribution of wealth and unprecedented environmental challenges, the consensus on the doctrine of growth appears to be shifting

Time To Go Beyond GDP


BY MARTINE DURAND 8/10/2015 Answering the question of whether or not societies are making progress, and at what pace, is complex. Even deciding what progress should look like is not straightforward, as it involves a value judgment about the desirable goals for a society across multiple economic, social and environmental dimensions. For ...

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The Degrowth Alternative


BY GIORGOS KALLIS An extended version of this article was first published on ‘The Great Transition Initiative’ (greattransition.org) in February 2015. Both the name and the theory of degrowth aim explicitly to repoliticize environmentalism. Sustainable development and its more recent reincarnation ‘green growth’ depoliticize genuine political antagonisms between alternative visions ...

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Europe’s Persistent Stagnation

Old people

BY JUAN F. JIMENO After the Great Depression and the subsequent European debt crisis, the European economy seems nowadays to be gaining some momentum. Yet there are structural factors that could make the recovery sluggish and keep unemployment persistently high. These structural factors are population ageing and declining working age population, ...

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Climate and Growth

Climate and Growth

BY MILAN BRAHMBHATT 08/10/2015 We appear to face a moral dilemma about economic growth. Growth is essential to improve human welfare today, most notably that of poor people in developing countries. But, as presently structured, it also contributes to escalating climate risk, which could have a catastrophic impact on the ...

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Capitalism, Growth and Freedom


BY VICTORIA BATEMAN 08/10/2015 Just under a century ago, in 1917, a communist revolution rocked Europe. Capitalism was taking a beating, and the Great Depression of 1929 only served to add to the growing disenchantment. Before long, socialist tendencies were spreading, both to the East, swallowing up the great land ...

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A Brief History of Economic Growth

Vollrath Fig 1

BY DIETRICH VOLRATH 13/11/2015 Most macroeconomic textbooks make a vague distinction between the ‘short run’ and the ‘long run’, typically saying the short run is somewhere between a few quarters and a few years, while the long run is perhaps five years out. When growth economists say ‘long run’, they really ...

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