Qualitative Growth: A Conceptual Framework for Finding Solutions to Our Current Crisis That Are Economically Sound, Ecologically Sustainable, and Socially Just

Abstract

The recent global recession has dominated the global discourse on economics. We heard a lot about people buying fewer cars, factories that produced sport-utility and recreational vehicles being closed, oil consumption (and thus the price of oil) decreasing dramatically, retailers complaining about consumers spending less money on luxury items, and so on. From an ecological point of view, all of this is good news, since continuing growth of such material consumption on a finite planet can only lead to catastrophe. Yet, it poses a contradictory “paradox of thrift.” For example, President Obama’s $787 billion stimulus plan, including “cash for clunkers” to increase car sales, was designed to raise consumption levels in both the public and private sectors, while increased savings were also desirable to contain deficits.