The ‘degrowth’ delusion

DM

The idea that economic growth cannot, and should not, continue, is gaining widespread support. It is based on grave misconceptions, and entirely deluded about economic reality. ‘We are in the beginning of a mass extinction and all you can talk about is money and fairy tales of economic growth. How dare you!’ When a then-16-year-old Greta Thunberg prissily lectured the assembled worthies at a United Nations climate summit in New York on 23 September 2019, one might have expected the adults to recognise that a high school girl might be passionately rebellious and anti-establishment, as we all were at her age, but probably has little to teach us about money and economic growth. Instead, she won prizes and accolades. The irony that the girl who accused world leaders of having stolen her dreams and her childhood grew up in a country with one of the highest GDPs per capita in the world was entirely lost on them.

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