The financial crisis and concerns about environmental sustainability have led to some to conclude that economies should no longer strive for growth. Diane Coyle, FRSA and author of The Economics of Enough, argues this conclusion is misplaced.
The economy faces several kinds of problem, each of which seems depressingly intractable. They include climate change, the government debt and aftermath of the financial crisis, and social inequality for starters. Taking them together, the challenge of devising economic policies can look daunting. So it is not surprising that simple solutions look appealing.
One apparent solution that has been gaining momentum is that the economy needs to give up on growth. That would certainly help in terms of environmental pressures. It is also widely believed that GDP growth doesn’t make us any happier, so why not concentrate on happiness or ‘well-being’ instead?



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