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Social Innovations for Economic Degrowth

Social Innovations for Economic Degrowth | The P2P Daily | Scoop.it

"... a growing community of scientists and social activists, sharing the basic insight that a reduction of energy and material use implies a reduction of gross domestic product (GDP), is gathering under the heading of sustainable degrowth.3 Degrowth obviously entails a fundamental transformation of economic structures. But what precisely are the necessary steps?"

 

Very good article in Solutions Journal on the need to scale up social innovations for sustainable degrowth if we want to move from the failing growth paradigm to a new paradigm of the good life.


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Degrowth, expensive oil, and the new economics of energy

"Expensive oil ... does appear to be suffocating the debt-ridden, global economy, just as it is trying to recover ...

 

Unfortunately, mainstream economists, including those in government, seem oblivious to the close relationship between energy, debt, and economy, and this means they are unable to see that expensive oil is one of the primary underlying causes of today’s economic problems. Consequently, they craft their intended solutions (e.g. stimulus packages, quantitative easing, low interest rates to encourage borrowing, etc) based on flawed, growth-based thinking, not recognising that the new economics of energy means that the growth model, which assumes cheap energy inputs, is now dangerously out-dated. When growth-based economies do not grow, household, firms, and nations struggle to repay their debts, and quickly things begin to unravel in undesirable ways."

 

Excellent analysis by Dr Samuel Alexander of the links between global energy descent, rising commodity prices, the end of growth and the Great Depression.

 


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