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“Consider this thought experiment: if Portugal has higher levels of human welfare than the United States with $38,000 less GDP per capita, then we can conclude that $38,000 of America’s per capita income is effectively ‘wasted’. That adds up to $13 trillion per year for the US economy as a whole. That’s $13 trillion worth of extraction and production and consumption each year, and $13 trillion worth of ecological pressure, that adds nothing, in and of itself, to the fundamentals of human welfare. It is damage without gain. This means that the US economy could in theory be scaled down by a staggering 65% from its present size while at the same time improving the lives of ordinary Americans, if income was distributed more fairly and invested in public goods.”

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Book:Less Is More: How Degrowth Will Save the World
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“Growthism is little more than ideology – an ideology that benefits a few at the expense of our collective future. We’re all pushed to step on the accelerator of growth, with deadly consequences for our living planet, all so that a rich elite can get even richer. From the perspective of human life, this is clearly an injustice. And indeed we have been aware of this problem for some time. But from the perspective of ecology, it is even worse – it is a kind of madness.”

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Book:Less Is More: How Degrowth Will Save the World
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“Once we grasp the scale of national and global inequalities, then the narrative that seeks to cast GDP growth as a proxy for human progress begins to seem a bit tendentious – perhaps even a bit ideological. And by ideology I mean in the technical sense: a set of ideas promoted by the dominant class, which serves their material interests, and which everybody else has internalised to such an extent that they are willing to go along with a system they might otherwise reject as unjust. The Italian philosopher Antonio Gramsci has called this ‘cultural hegemony’: when an ideology becomes so normalised that it is difficult or even impossible to reflect on it.”

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Book:Less Is More: How Degrowth Will Save the World
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“In the late 1970s, growth in Western economies began to slow down and returns on capital began to decline. Governments came under pressure to do something about it – to create a ‘fix’ for capital. So they attacked unions and gutted labour laws in order to drive the cost of wages down, and they privatised public assets that had previously been off limits to capital – mines, railways, energy, water, healthcare, telecommunications and so on – creating lucrative opportunities for private investors.”

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Book:Less Is More: How Degrowth Will Save the World
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“Under capital’s growth imperative, there is no horizon – no future point at which economists and politicians say we will have enough money or enough stuff. There is no end, in the double sense of the term: no maturity and no purpose. The unquestioned assumption is that growth can and should carry on for ever, for its own sake. It is astonishing, when you think about it, that the dominant belief in economics holds that no matter how rich a country has become, their GDP should keep rising, year after year, with no identifiable end point.”

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Book:Less Is More: How Degrowth Will Save the World
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“The vast majority of major, collaborative infrastructure projects around the world have been guided by government policy and funded by public resources: sanitation systems, road systems, railway networks, public health systems, national power grids, the postal service. These are not the spontaneous outcomes of market forces, much less of abstract growth. Projects like these require public investment. Once we realise this, it becomes clear that we can fund the transition quite easily by directing existing public resources from, say, fossil fuel subsidies (which presently stand at $5.2 trillion, 6.5% of global GDP) and military expenditure ($1.8 trillion) into solar panels, batteries and wind turbines.”

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Book:Less Is More: How Degrowth Will Save the World
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“Today, nearly every government in the world, rich and poor alike, is focused single-mindedly on GDP growth. This is no longer a matter of choice. In a globalised world where capital can move freely across borders at the click of a mouse, nations are forced to compete with one another to attract foreign investment. Governments find themselves under pressure to cut workers’ rights, slash environmental protections, open up public land to developers, privatise public services – whatever it takes to please the barons of international capital in what has become a global rush towards self-imposed structural adjustment. All of this is done in the name of growth.”

PoliticsCapitalismEconomicsGlobalizationGdpNeoliberalismDegrowthPrivitization
Book:Less Is More: How Degrowth Will Save the World
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