To Change the World, Change Your Economics: How Degrowth Can Shrink Overconsumption in the Global North While Allowing the Global South to Grow
The global economy largely operates under a neoclassical economic structure, which emphasizes a reliance on markets, a deference to the private sector and a focus on constant growth. But according to Matt Orsagh and Steve Rocco at the Arketa Institute, this structure has a fatal flaw: It operates on a planet with finite resources and limited places to put our waste, but assumes that economic growth can go on forever. They argue that the world needs a new form of economics that reflects our environmental realities, one focused on “degrowth” — i.e., an effort to equitably downscale production and consumption in the Global North, without putting undue restrictions on the development of the Global South. They explore what this change might mean for the world’s economy, the investing community — and countries in the Global North and South.
