Government's sustainable development adviser challenges 'blinkered' pursuit of economic growth
Fri 01 May 2009
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A report published by the Government’s sustainable development adviser - the Sustainable Development Commission - argues that the pursuit of economic growth is one of the root causes of the current financial crisis, as well contributing to a growing environmental crisis and undermining well-being in developed countries.
The Commission's report, "Prosperity Without Growth?", suggests that the current global recession should be the occasion to forge a new economic system equipped to avoid the shocks and negative impacts associated with our reliance on growth. It finds that our current financial crisis is directly linked to our pursuit of growth. Our reliance on debt to finance the cycle of growth has created a deeply unstable system which has made individuals, families and communities inherently vulnerable to cycles of boom and bust, while increasing consumption does not make us happier.
The report's author, Professor Tim Jackson, Economics Commissioner at the SDC, said: "It may seem inopportune to be questioning growth while we are faced with daily news of the effects of recession, but allegiance to growth is the most dominant feature of an economic and political system that has led us to the brink of disaster. Not to stand back now and question what has happened would be to compound failure with failure: failure of vision with failure of responsibility. Figuring out how to deliver prosperity without growth is more essential now than ever."
The report calls on World leaders to adopt a 12-step plan to make the transition to a fair, sustainable, low-carbon economy.
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