Summary:
- "Prosperity without Growth" argues that continual economic growth is unsustainable and proposes alternative models for achieving prosperity.
- The book challenges the conventional belief that economic growth is essential for human development and questions the validity of GDP as a measure of progress.
- It explores the environmental and social impacts of economic growth and highlights the urgent need for a sustainable economy.
- The author presents different policies and strategies that can support prosperity without relying on endless growth.
- Key learnings include: prioritizing well-being over wealth, transitioning to a circular economy, measuring progress using alternative indicators, and promoting degrowth as a viable solution.
As a UX designer, you should read this book because:
- It addresses the pressing issue of sustainability, which is increasingly important in design and user experience decision-making.
- It challenges the notion that economic growth is the only path to prosperity, encouraging you to explore alternative ways of creating value for users and society.
- The book will broaden your perspective on how your work can contribute
🎀 Highlights
While economic growth is undoubtedly essential for poorer countries, there’s little evidence to support the argument that continued growth can bring sustained happiness and well-being in the affluent developed world.
what a successful transition to a truly sustainable economic and social model would involve and
sustaining economic growth incurs high levels of national debt (money borrowed by governments) and consumer debt (money borrowed by individuals).
think about the rise of consumer debt in the decade before the 2008 financial crisis.
many people borrowed large amounts of money to purchase their own homes and spent beyond their means using credit cards.
while a certain level of national debt is acceptable, higher levels are incredibly unsustainable.
Over the last few decades, however, we’ve tried to maximize economic growth while also curbing its impact on the environment.
doing “more with less,” i.e., achieving greater economic growth with a smaller ecological impact.
i.e., the ecological cost of producing a unit of growth, has dropped by 33 percent since 1970.
energy intensity has increased in Portugal, Greece and Turkey over the same period of time, and it has even doubled in the Middle East.
Most developed countries have outsourced their manufacturing industries to developing countries.
this attachment to material novelty is unhealthy: it results in us becoming empty selves, desperately and constantly seeking material goods to provide our lives with meaning.
the need to keep up with others makes us anxious, and we’re constantly afraid that we cannot compete with our peers (e.g., “I need a new car to keep up with my neighbor.”)
This need is a central cause of our imprisonment in the
This
This need is a central cause of our imprisonment in the “iron
This need is a central cause of our imprisonment in the “iron cage of consumerism,” as it fuels the creation of more and more new material goods.
chasing growth and innovation can also hurt us in another way: it leads to rising unemployment. That’s because economic growth depends on producing goods as efficiently as possible. And this entails introducing new technologies that reduce the costs of manufacturing, labor, resources and capital.
Cutting labor means fewer jobs because fewer people are needed to produce goods. The upshot of a rise in unemployment
Cutting labor means fewer jobs because fewer people are needed to produce goods. The upshot of a rise in unemployment is a decrease in consumers who spend money on goods.
increases in GDP do not correspond with higher levels of health or happiness.
The first of these limits is our planet’s finite resources – resources we have to respect and allow sufficient time to replenish. The second limit is population, as one that is too large puts excessive, unsustainable pressure on the environment.
It won’t be easy to escape from the consumer trap we’re currently stuck in: the social importance of having more “stuff,” especially in comparison to our neighbors, is just too great.
people: Whose advice should they be following? One of the major problems that arises from the consumer trap is that of status competition among individuals, which incentivizes the wrong kind of economic and social behavior and leads to social inequality.
One of the major problems that arises from the consumer trap is that of status competition among individuals, which incentivizes the wrong kind of economic and social behavior and leads to social inequality.
wages are structured to reward people who are economically successful (bankers, entrepreneurs, etc.) even if their work has a damaging effect on society.
They are not structured in a way that rewards those who contribute towards the social good – for example, caregivers or teachers. This situation is partly to blame for one of the biggest social problems: inequality.
in the UK the 1990s, the difference in lifespan between rich and poor was vast: the wealthiest English women lived a whole 15 years longer than the poorest.
While economic growth is undoubtedly essential for poorer countries, there’s little evidence to support the argument that continued growth can bring sustained happiness and well-being in the affluent developed world.
what a successful transition to a truly sustainable economic and social model would involve and
sustaining economic growth incurs high levels of national debt (money borrowed by governments) and consumer debt (money borrowed by individuals).
think about the rise of consumer debt in the decade before the 2008 financial crisis.
many people borrowed large amounts of money to purchase their own homes and spent beyond their means using credit cards.
while a certain level of national debt is acceptable, higher levels are incredibly unsustainable.
Over the last few decades, however, we’ve tried to maximize economic growth while also curbing its impact on the environment.
doing “more with less,” i.e., achieving greater economic growth with a smaller ecological impact.
i.e., the ecological cost of producing a unit of growth, has dropped by 33 percent since 1970.
energy intensity has increased in Portugal, Greece and Turkey over the same period of time, and it has even doubled in the Middle East.
Most developed countries have outsourced their manufacturing industries to developing countries.
this attachment to material novelty is unhealthy: it results in us becoming empty selves, desperately and constantly seeking material goods to provide our lives with meaning.
the need to keep up with others makes us anxious, and we’re constantly afraid that we cannot compete with our peers (e.g., “I need a new car to keep up with my neighbor.”)
This need is a central cause of our imprisonment in the
This
This need is a central cause of our imprisonment in the “iron
This need is a central cause of our imprisonment in the “iron cage of consumerism,” as it fuels the creation of more and more new material goods.
chasing growth and innovation can also hurt us in another way: it leads to rising unemployment. That’s because economic growth depends on producing goods as efficiently as possible. And this entails introducing new technologies that reduce the costs of manufacturing, labor, resources and capital.
Cutting labor means fewer jobs because fewer people are needed to produce goods. The upshot of a rise in unemployment
Cutting labor means fewer jobs because fewer people are needed to produce goods. The upshot of a rise in unemployment is a decrease in consumers who spend money on goods.
increases in GDP do not correspond with higher levels of health or happiness.
The first of these limits is our planet’s finite resources – resources we have to respect and allow sufficient time to replenish. The second limit is population, as one that is too large puts excessive, unsustainable pressure on the environment.
It won’t be easy to escape from the consumer trap we’re currently stuck in: the social importance of having more “stuff,” especially in comparison to our neighbors, is just too great.
people: Whose advice should they be following? One of the major problems that arises from the consumer trap is that of status competition among individuals, which incentivizes the wrong kind of economic and social behavior and leads to social inequality.
One of the major problems that arises from the consumer trap is that of status competition among individuals, which incentivizes the wrong kind of economic and social behavior and leads to social inequality.
wages are structured to reward people who are economically successful (bankers, entrepreneurs, etc.) even if their work has a damaging effect on society.
They are not structured in a way that rewards those who contribute towards the social good – for example, caregivers or teachers. This situation is partly to blame for one of the biggest social problems: inequality.
in the UK the 1990s, the difference in lifespan between rich and poor was vast: the wealthiest English women lived a whole 15 years longer than the poorest.
