Magazine article Public Finance


Magazine article Public Finance


Article excerpt

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Can we prosper without growth?

Anna Coote's article ('Growth defects', April 10-17) is a valuable contribution to the issues now facing the global economy.

The notion that the quality of life can be enhanced in ways that do not increase the gross domestic product is, of course, far from new, But this will become an increasingly important consideration for policy-makers in the future.

If Tim Jackson is correct in his report on prosperity without growth, and I believe he is, then we are at a monumental turning point in the history of the developed world.

No generation has had less material wealth to enjoy than their parents since our ancestors learnt how to make knives and axes from flints. As the population grows in the future and has to share the same size cake of goods and services, it would seem we are all going to have to get used to the idea of a lower material standard of living than our predecessors. …

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