As insane wealth concentration gets ever more extreme, wealth turnover in annual spending — the very stuff of economic activity — plummets.
Covid-era spending was just another step down.
The arithmetic of this is not complicated. #SecularStagnation
As insane wealth concentration gets ever more extreme, wealth turnover in annual spending — the very stuff of economic activity — plummets.
Covid-era spending was just another step down.
The arithmetic of this is not complicated. #SecularStagnation
Politicians remain wedded to #growth as the solution to all problems. But that growth has gone. "To all intents and purposes, we're already living in a kind of #postgrowth economy. But we haven't figured out how to make that work."
@ProfTimJackson on #RadioNZ with Kim Hill → https://cusp.ac.uk/themes/aetw/tj-radionnz-jan23/
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cc #degrowth #wellbeingeconomy #beyondgdp #secularstagnation
Politicians’ growth fetish is the problem—and Sunak is headed for the same budget trap as Truss | New @TheGuardian Op-ed by @ProfTimJackson → https://www.theguardian.com/commentisfree/2022/nov/16/politicians-growth-fetish-sunak-budget-climate
"To all intents and purposes, we’re already living in a post-growth world. And it’s time to take that challenge seriously."
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#AutumnBudget #RishiSunak #JeremyHunt #UKtreasury #PostGrowth #Degrowth #SecularStagnation #Recession #WellbeingEconomy #GrowthDependency #BeyondGDP #EconTwitter
The siren call of climate-burning expansion bewitches British politics. More of the same will emerge in the autumn statement, says Tim Jackson, professor of sustainable development at the University of Surrey
This first in our series of briefing papers on building An Economy That Works explores the underlying phenomenon of ‘secular stagnation’ – a long-term decline in the rate of growth of the Gross Domestic Product (GDP). The paper examines the evidence, explores the causes and discusses the implications of what some now call the ‘new normal’ | Keywords: Productivity Puzzle, Secular Stagnation, Post-Growth Economics, An Economy That Works
We are becoming an angry, divided and insecure country, Alan Simpson writes. Right now, it doesn’t have to be that bad. But we don’t have that much time to play with. The key lies in ‘the order of the soul’.
It’s Not in Your Head: The World Really Is Getting Worse
...Narratives that see widespread economic and technological stagnation setting in sometime around the mid-1970s have become fairly common. And it’s pretty clear that the 1970s were some sort of inflection point, a time when we fell off established income, innovation, and progress curves on a number of fronts. The big question is why....
https://thewalrus.ca/its-not-in-your-head-the-world-really-is-getting-worse/
#progress #SecularStagnation #technology #decline #AndrewPotter