Many economists of today have realized that the worlds economic system of production and consumption is obsolete and urgently needs to be replaced. Many of them have tried to come up with a good design that could work as a replacement. None have succeeded very well. Until now.
Ecological Economics professor Dr. Peter Victor of York University presented what is perhaps the first real candidate for a new economic system that takes into account the limits of the planets ecosystems, deposits of natural resources, equity etc.
He does so in his newly published book: Managing Without Growth: Slower By Design, Not Disaster. Also, the British Sustainable Development Commission very recently published a report that draws heavily from Victor’s work. The report is titled Prosperity without growth? The transition to a sustainable economy and is freely available here.
Below a citation from Victors report.
The social logic that locks people into materialistic consumerism as the basis for participating in the life of society is extremely powerful, but detrimental ecologically and psychologically (Chapters 4-6). An essential prerequisite for a lasting prosperity is to free people from this damaging dynamic and provide opportunities for sustainable and fulfilling lives (Chapter 9). We offer five policy areas to help achieve this task.
My wish is for Peter Victor’s ”Managing Without Growth” to have a nice and thorough world wide impact.
Peter Victor interviewed by a Canadian radiostation. Click below to listen (21 min).