The End of Growth reviewed at MarketMinder
May 14, 2012
Post Carbon Senior Fellow Richard Heinberg’s book The End of Growth was reviewed at Fisher Investments MarketMinder.
From the review:
As the name implies, The End of Growth argues aggregate global economic growth will end because of the convergence of several factors—the two central ones being over-indebtedness and resource depletion. The book doesn’t argue quality of life is headed for a cliff—rather, it posits we must adapt to a post-growth, post-hydrocarbon economy. The book urges, among other things, a focus on overall well-being instead of GDP-driven consumption. Fair enough—it’s fine to focus on well-being and happiness if you so choose. But the conviction long-term growth must stall seems misplaced.
First, the book’s position that the US has “too much debt” is certainly a widely held one. But debt isn’t an inherently bad thing. Leverage, used correctly, can be a powerful force for societal good. Debt can help start businesses, create jobs, finance construction, etc. In that light, it’s a critical pillar of capitalism.