Is a Minimalist Economy Possible? Degrowth Advocates Say Yes.
The Argument for a New Economic Paradigm
Degrowth economics have a simple solution to global warming: downscale production and consumption and ditch GDP as a measurement of human flourishing. Degrowthers argue that this is possible without affecting our standard of living through measures such as work-sharing, consuming less, and devoting more time to art, family, nature and community.
“Degrowth means a phase of planned and equitable economic contraction in the richest nations, eventually reaching a steady state that operates within Earth’s biophysical limits.” — Samuel Alexander (The Conversation)
Dr. Jason Hickel, an anthropologist, author and a Fellow of the Royal Society of Arts, also argues that degrowth is not about reducing the GDP but “restoring public service and expanding the commons so that people will be able to access the goods they need to live well without a high-level of income”:
I reject the fetishization of GDP as an objective in the existing economy, so it would make little sense for me to focus on GDP as the objective of a degrowth economy. Wanting to cut GDP is as senseless as wanting to grow it.