The New Economics Foundation in the UK has released a major report – Growth Isn’t Possible. The Foundation, whose motto is ‘economics as if people and the planet mattered’, questions whether exponential economic growth is possible in the face of the disjunction between its imperatives and the limits of the planet’s biocapacity. The authors, Andrew Simms and Victoria Johnson, observe that the language of orthodoxy and heresy is a significant one in economic discourse; among other things, I’d add, the political imperative to focus on redistribution rather than the justice of distribution (and thus the inequality inherent in capitalist society) itself constrains questioning. Yet the thesis that growth has its limits is the pure province of neither 70s faddism or heterodox Marxists. John Stuart Mill proposed in 1848:
… the increase in wealth is not boundless: that at the end of what they term the progressive state lies the stationary state.
The NEF report is summarised in this blog post by its co-author and the Foundation’s policy director, Andrew Simms. The report itself is clearly and well written, and marshals an impressive range of evidence and argument about the economics and politics of energy usage. It’s not a quick read, but I’d strongly urge a perusal of, at least, the introductory and concluding chapters. Many won’t want to have the debate it foresees about limits to growth, but it’s one I am sure will not go away.
If anything ends up completely discrediting the worship of markets, it will probably turn out to be the vacuous and endlessly deferred nature of quasi-market “solutions” to climate change, which have little support even among those who are ideologically predisposed to them. 
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