In the ongoing debate between proponents of green growth and advocates of degrowth, Peter Victor, Professor Emeritus and Senior Scholar at York University, Canada, offers insights into the intersection of ecology, economics, and sustainable living. Victor, the author of 'Escape from Overshoot: Economics for a Planet in Peril' (2023), discusses the impacts of economic growth and the challenges of achieving net-zero emissions globally [da42da60].
According to the Global Footprint Network, ecological 'overshoot' occurs when human demand exceeds the regenerative capacity of natural ecosystems. Last year, Global Overshoot Day occurred on August 1, but this year it occurs on August 2, indicating progress [ed7100ab]. Sweden's 'overshoot day' occurs 18 days later compared to last year. The Global Footprint Network's measure of using 1.7 Earths can be misleading, but it highlights the need for sustainability [ed7100ab].
Victor introduces several concepts that aim to achieve a fair distribution of well-being resources. One such concept is 'contraction and convergence,' which calls for a reduction in economic activity and a convergence of living standards across countries. Another concept is the 'circular economy,' which emphasizes the reuse and recycling of resources to minimize waste. Lastly, Victor discusses the idea of a 'steady-state economy,' where economic activity remains stable to avoid overshoot and maintain ecological balance [da42da60].
The United States has reached Peak Stuff, consuming fewer resources due to digitalization. Becoming more sustainable requires doing more with less. The article also mentions the benefits of a plant-based diet and the success of vaccines [ed7100ab].
Victor envisions a political landscape that prioritizes well-being and expresses optimism about achieving a balance in economic theories. He emphasizes the need for a shift in economic thinking to avoid overshoot and ensure a sustainable future. By integrating ecological considerations into economic decision-making, Victor believes that we can create a more equitable and environmentally conscious society [da42da60].
Europe has long embraced the globalized capitalist economic model, with constant economic growth being a central goal for many European countries. However, there is a growing recognition that decoupling GDP growth from environmental damage is essential for a sustainable future. The concept of 'degrowth' economics, which advocates for shrinking rather than growing economies and prioritizing well-being over profit, is gaining traction. Some people are starting to resist the commitment to growth at all costs and are calling for a shift towards more sustainable practices. Transformational leaders are needed to convince people that the current neoliberal economic strategies are depleting natural resources and contributing to modern-day slavery for vulnerable workers [2f30dd0f].
The Washington Post article explores the arguments made by degrowthers who believe that humanity is approaching the Earth's limits and that climate change is causing hunger, war, and water shortages. They argue that the exploitation of the environment has been crucial for economic development and that the Western economic model threatens resources in the Global South. The Green Revolution, which aimed to increase agricultural productivity, has had severe ecological and social repercussions. The rapid upscaling of lithium extraction for green energy infrastructure is causing problems for local communities and nature. Additionally, the growing power consumption of artificial intelligence (AI) is a concern. Degrowthers believe that zero economic growth will bring us closer to achieving net-zero carbon emissions goals. They question the need for continued growth and advocate for reducing poverty and inequality. While slowing economic growth can slow emissions, innovation is needed to achieve zero emissions. The article acknowledges that economic growth has led to improvements in living standards and poverty reduction, but emphasizes that the size and composition of economic growth are important factors to consider. The Post plans to address these issues in another editorial [0382e2bd].
The article 'Why we still think ‘growthist ideology’ is right' by The Washington Post Editorial Board responds to the concept of 'degrowth' and its critics. The authors acknowledge the concerns raised by degrowthers but disagree with the idea that degrowth is the solution. They argue that curtailing economic growth would not lead to a safer, sustainable world and would disproportionately affect developing countries. The authors highlight the historical correlation between population growth and economic development, which has lifted billions of people out of poverty. They also emphasize that economic growth can lead to improvements in living standards, environmental sustainability, and productivity. The authors express concern about declining birth rates and the need to sustain economic vibrancy in the face of a shrinking workforce. They support pronatalist policies that enable women to choose to have children but also acknowledge the importance of respecting the autonomy of those who choose a child-free life. The authors conclude that societies need to prepare for a future with a declining population and find ways to do more with fewer people [784289da].
Economic growth largely benefits the privileged few, while poverty eradication has been unsuccessful. The world's five richest men have doubled their fortunes in the past four years, while nearly 5 billion people have become poorer. If current trends continue, 575 million people will still be in extreme poverty by 2030. The quest for growth is pushing the planet beyond its limits, with six of the nine planetary boundaries already crossed. Concrete steps can be taken to shift the focus from growth to humanity, such as choosing measures of progress other than GDP and valuing unpaid work. Financing essential services can be achieved through progressive tax policies and international cooperation. A growing movement is rallying against the growth-driven economic model, and an alternative vision of progress must be embraced at the Summit of the Future in September. Without a roadmap for an economy that protects human rights and the environment, the world is headed towards extinction [886b298f].
The UN’s Special Rapporteur on extreme poverty and human rights, Olivier De Schutter, challenges the belief that economic growth alone can eradicate global poverty. De Schutter criticizes the traditional approach of prioritizing economic expansion as a strategy to combat poverty, labeling it a flawed and perilous path. He urges governments and international bodies to pivot away from using Gross Domestic Product (GDP) as the primary measure of progress and instead calls for a paradigm shift that places human rights and well-being at the forefront of economic decision-making. De Schutter's report highlights how economic growth in developing nations has often failed to alleviate poverty, relying on cheap labor and natural resources to produce goods for wealthier nations or repay foreign debts. He calls for a swift transition to a human rights-based economy, prioritizing public services, social protection, and sustainable development. Measures such as debt restructuring, progressive taxation, and enhanced global cooperation to combat tax evasion are advocated. De Schutter stresses the urgency of adopting these policies to safeguard both humanity and the planet [d244c65b].
Recent findings have debunked the myth of overpopulation, rendering population control ill-informed and anti-human. The belief in overpopulation has been widespread, with nearly half of sampled Americans, 76% of Hungarians, and 69% of Indians believing that the world's population is too high. The idea of overpopulation dates back to ancient times, with examples found in Mesopotamian and Greek texts. English economist Thomas Malthus revived the myth in 1798 with his book 'An Essay on the Principle of Population,' claiming that population growth would lead to famine. However, subsequent research and data have disproven Malthusian theory. Economist Julian Simon argued that a larger population leads to more innovation and abundance. Recent studies have shown that for every 1% increase in population, commodity prices tend to fall by around 1%. The larger human population has not caused the ecological cataclysms predicted by Malthus and others. The contribution of energy exports, particularly oil, natural gas, and other fossil fuel products, to Canada's economy is significant, generating billions of dollars in export receipts and supporting high-paying jobs. The larger trade surplus in the energy sector offsets chronic trade deficits in other sectors. Provinces should be cautious about entering cost-sharing agreements with the federal government, as history has shown that Ottawa can reduce or eliminate funding at any time, leaving the provinces to bear the financial burden. The federal government's ongoing deficits and increasing debt also pose risks to provincial funding. Overall, it is time to dispel the myth of overpopulation and embrace a more positive and accurate view of human beings and human destiny as net creators. [0dfdc730]
The world economy is driven by energy consumption, with economic growth closely tied to energy use. Financial demand cannot overcome the physical limits of resource extraction, leading to affordability issues and economic instability. Prevailing narratives often obscure the challenges of resource depletion and rising population. There is a close relationship between world energy consumption and economic growth. Energy consumption and economic growth are related due to the physics of energy dissipation. Humans became adapted to eating cooked food, allowing them to outcompete other animals but leading to population growth and resource depletion. The financial system provides growing demand through debt and other financial promises, but this approach works less well as extraction limits are reached. Models that assume the future will be similar to the past are misleading. Climate change is not the world's worst problem; fossil fuels are leaving the world due to extraction limits. There aren't enough resources to support a growing population, leading to conflicts and bankruptcies. Slowing growth is likely to lead to financial collapse. [a5db63fc]
The article 'The Overcapacity Chimera: A Boon to the Global Diffusion of Green Tech' discusses the concept of overcapacity in the context of the global diffusion of green technology. It argues that overcapacity, often seen as a negative phenomenon, can actually be beneficial for the spread of green technology. The author explains that overcapacity occurs when there is excess production capacity in a particular industry, leading to lower prices and increased competition. This can drive innovation and make green technology more affordable and accessible. The article provides examples of how overcapacity has contributed to the diffusion of solar panels and electric vehicles. It also highlights the role of government policies in promoting overcapacity and supporting the growth of green industries. The author concludes that overcapacity should be seen as an opportunity rather than a problem, and calls for policymakers to embrace it as a strategy for accelerating the global transition to a greener economy. [6c2ff97f]