Economic Growth

Economic Growth - Explained

Watch this video to understand how we measure economic growth, what causes it, and why it is generally seen as positive. Also take note of the description of the results of growth, particularly the notes about the distribution of the benefits. Review the lecture slides under "Economic Growth" here.

After watching and/or review your notes, select one of the alternative disciplinary perspectives (history, public health, or environmental science) and answer the reflection question.

Reflection Question: Economics courses and materials often present economic growth as an objectively good end to strive for. Do you believe this is always the case? What are some limitations to the goal of sustained economic growth? Use information from class and from your chosen alternative discipline.

Environmental Science

"Why Economic Growth is not Compatible with Environmental Sustainability"

Article from The Ecologist written by Frederico Demaria describing the competing forces of economic growth and environmental sustainability. Demaria describes the trade offs made often between ecological issues and the goal of endless economic growth. Solutions are proposed with the understanding that there is no "magic bullet".

Read the article here: https://theecologist.org/2018/feb/22/why-economic-growth-not-compatible-environmental-sustainability

Is Economic Growth the Wrong Goal? - FreakonomicsThe endless pursuit of G.D.P., argues the economist Kate Raworth, shortchanges too many people and also trashes the planet. Economic theory, she says, “needs to be rewritten” — and Raworth has tried, in a book called Doughnut Economics. It has found an audience among reformers, and now the city of Amsterdam is going whole doughnut.

Growth without economic growth Economic growth is closely linked to increases in production, consumption and resource use and has detrimental effects on the natural environment and human health. It is unlikely that a long-lasting, absolute decoupling of economic growth from environmental pressures and impacts can be achieved at the global scale; therefore, societies need to rethink what is meant by growth and progress and their meaning for global sustainability.

History

"New Research Shows Slavery's Central Role in US Economic Growth..."

Article from the Washington Center for Equitable Growth written by Kathryn Zickuhr, describing how the institution of slavery is connected to economic growth in the US South.

Read the article here: https://equitablegrowth.org/new-research-shows-slaverys-central-role-in-u-s-economic-growth-leading-up-to-the-civil-war/

Episode 534: The History Of LightIn this show: How we got from candles made out of cow fat to as much light as we want. The history of light is the history of economic growth — of things getting faster, cheaper, and more efficient.

Public Health

Public Health and Economic Development

From the Inclusive Economies Report by The Health Foundation. This long article describes the importance of including individual health as an element of economic growth.

Read the report here: https://www.health.org.uk/sites/default/files/upload/publications/2020/InclusiveEconomiesReport.pdf

The Vision of a Well-Being Economy (SSIR)We must shift how we understand and build societal health and prosperity, looking beyond economic growth to collective well-being and environmental sustainability.

Benefits of economic growth - Economics HelpExplaining the benefits of economic growth to householders, firms, and the government. Economic growth enables improved living standards, higher tax revenues and more spending on public services.

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