G-20 Climate Challenge Calls for a Rethink of Economics & Growth. Focusing on growth, the Brisbane G-20 leaders’ summit has not grappled with three key issues. How much more growth can the planet survive? How can poorer nations raise their living standards to parity with the “developed” world? And within both rich and poor countries, how can a fairer distribution of the benefits of growth be realised? The key problem of our time is the possibility of pursuing three goals simultaneously – ecological sustainability, economic development and a more equitable distribution of wealth within and among nations. Harvard economist Steven Marglin argues affluent nations must limit further increases in their standard of living. Priority must be given to the development goals of poorer nations and to addressing poverty in the affluent world. But even this cannot be done within current wasteful approaches to growth. A radical rethink of the foundations of economics is required. Six economists and sociologists from Cambridge, the Hague, India, Italy and Australia debate this challenge in the December 2014 issue of The Economic and Labour Relations Review. https://theconversation/g20-climate-challenge-calls-for-a-rethink-of-economics-34250
Posted on: Mon, 17 Nov 2014 05:20:39 +0000
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