Joyism | JoyCoin· content · 2 min read
Will the End of Economic Growth Come by Design — or Disaster? | Gaya Herrington | TED
What if solving poverty, caring for nature and fostering well-being were the ultimate goals of the economy, instead of growth for its own sake? Environmentalist and economist Gaya Herrington proposes a shift in thinking from "never enough" to "enough for each,"
Recorded at TEDCountdown@BloombergGreenFestival on July 12, 2024.
Let’s contemplate the word “enough” …
In her TED Talk, Gaya Herrington discusses whether the end of economic growth will come by design or by disaster. She highlights that continuous economic growth has been a key driver of human progress, but it has also led to environmental and social issues such as resource depletion, pollution, and inequality.
Herrington refers to the “Limits to Growth” model, which predicted that if humanity continued on its current path of unchecked growth, it would eventually face a collapse in population and economic systems. She contrasts this with alternative futures, where societies can consciously shift toward sustainability by prioritizing well-being, social equity, and ecological balance over mere growth.
She emphasizes the importance of designing a more sustainable future rather than waiting for disaster to force us into change. To avoid collapse, Herrington suggests that we must rethink our economic models, reduce consumption, invest in renewable resources, and focus on improving human and environmental well-being rather than endlessly pursuing GDP growth. The future, she argues, is in our hands—whether we choose to design a better system or let a collapse force us into it.
She cites the book The Limits to Growth by Donella H. Meadows, Dennis L. Meadows, Jørgen Randers and William W. Behrens III.
This book was written in 1972 - Gaya said that the book was a bestseller but soon forgotten and the authors were portrayed as doom-sayers. She said she compared their predictions with reality of today, and she found empirical data aligning with the model’s (they created) scenario for business-as-usual. It predicted that growth will stop around 2040 or so followed by steep declines in food production and well being.
She followed on to say that this situation can be avoided by letting go of the growth pursuit and redirecting resources to meet human needs and protect nature directly.
I recommend you watch this as it aligns with alot of what I have been thinking about for decades now. (Although more like since 1992 than 1972).
