Posted by Steven Liaros on November 29, 2011
The problem is unemployment; only growth can create the jobs. Schools and hospitals are underfunded; the answer is faster growth. We can’t afford to protect the environment; the solution is more growth. Poverty is entrenched; growth will rescue the poor. Income distribution is unequal; the answer is more growth.
If the answer to the problem is always more growth then who dares ask the question: What if the problems are caused by economic growth?
As Hamilton and others are beginning to recognise, economic growth is not our only solution to life’s problems and the management of the economy is not our only purpose in life. We all have personal needs that can be satisfied by the economy but as social animals we also have communal needs.