THE AGE LETTER | ... and infinite growth Joe windmills are obscene Hockey congratulates himself that the G20 will be aiming for 2 per cent GDP growth. If this rate were to be attained, then by 2050 the G20 economies would collectively be twice their current size. As the planet is already struggling to cope with the environmental load of current activity, it is highly unlikely such growth will occur – and just as well. The growth addiction is simplistically appealing. More stuff equals more jobs equals more wealth equals more stuff. The elephant in the room is population growth, which is used by lazy politicians and business to grow the economy. What is needed is a much broader measure of progress that includes quality of life – social and environmental – parameters. Two US states, Vermont and Maryland, are introducing a general progress indicator along these lines. The Australian Bureau of Statistics was developing similar indices but recent cuts by the Abbott government have put a stop to that. Of course Mr Hockey is not alone in this GDP growth delusion; all the other G20 ministers believe the same myth. Hence our problem. Graeme Henchel, Dixons Creek
Posted on: Sat, 01 Nov 2014 22:26:01 +0000
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