Sustainability experts Rob Dietz and Dan O’Neill offer a refreshing but provocative analysis on the disconnection between growth and prosperity. They confront the traditional economic absolute that greater growth and consumption inevitably lead to happiness in a consumer-driven capitalist society. Dietz and O’Neill – advocates of a “steady-state economy” – offer a well-researched and well-presented argument about political economy and the environmentally unfriendly positions of world leaders. Their perspectives raise questions about the ultimate value of materialism and unfettered economic growth, which harm the environment, and undermine social justice and economic equality. getAbstract recommends this idealistic thesis to anyone interested in what a sustainable economy might eventually look like.
In this summary, you will learn
- Why the costs of constant economic growth outweigh its benefits;
- How to build an alternative “steady-state economy”; and
- What changes in banking, GDP and employment are critical to achieving a “prosperous but nongrowing economy.”
About the Authors
Rob Dietz, editor of the Daly News blog, is the former executive director of the Center for the Advancement of the Steady State Economy (CASSE). Dan O’Neill is a lecturer in ecological economics at the University of Leeds and the chief economist for CASSE.
Comment on this summary
5 years agoVery well articulated and backed up by valid arguments.
The question however is, how to convince the higher ups in most of the governments and big companies to give up the still prevailing paradigm of the GDPs?
It would be difficult for these people to willingly give up their priviledged positions of wealth and power... Can you imagine the heirs of Walmart sharing their fortune to the to the bottom 30% of the American population?