Sylized illustration of a snail in grass

Kate Raworth, who came up with the idea of Doughnut Economics, writes in The Guardian about how we need to move beyond the idea of endless growth. This goes beyond alternatives to GDP such as the Human Development Index (HDI) to take into account of environmental factors.

Instead of pursuing endless growth, it is time to pursue wellbeing for all people as part of a thriving world, with policymaking that is designed in the service of this goal. This results in a very different conception of progress: in the place of endless growth we seek a dynamic balance, one that aims to meet the essential needs of every person while protecting the life-supporting systems of our planetary home. And since we are the inheritors of economies that need to grow, whether or not they make us thrive, a critical challenge in high-income countries is to create economies that enable us to thrive, whether or not they grow.

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When we turn away from growth as the goal, we can focus directly on asking what it would take to deliver social and ecological wellbeing, through an economy that is regenerative and distributive by design. There are many possibilities – such as driving a low-carbon, zero-waste industrial transformation, with a green jobs guarantee, alongside free public transport, personal carbon allowances, and progressive wealth taxes. Policies like these were, only a decade ago, considered too radical to be realistic. Today they look nothing less than essential.

Source: The Guardian