Jason Hickel: ‘Our addiction to economic growth is killing us’ - Viewsnight

Summary

The video script addresses the unsustainable pursuit of economic growth, highlighting its detrimental effects on the environment. It emphasizes the need for 'planned degrowth' in wealthy nations to reduce overconsumption and ecological harm. The script advocates for a shift from GDP as the sole measure of progress to a more holistic model like the Genuine Progress Indicator, aiming for an economy that enhances human well-being without compromising the planet's health.

Takeaways

• 🌍 Economic growth is seen as the primary measure of success, but it's unsustainable on a finite planet.
• 📈 The global system is currently captive to the idea of economic growth, which leads to environmental degradation.
• 🌳 We are already overshooting the Earth's biocapacity by nearly 60%, causing climate change and rapid extinction.
• 🏆 Politicians' success is often tied to their ability to increase GDP, but this measure is flawed.
• 🌱 Rich countries are overconsuming resources, using more than three times their fair share of biocapacity.
• ⚠️ Scientists warn that reducing consumption in rich countries is critical to preventing ecological collapse.
• 🔄 Planned degrowth is proposed as a solution, aiming to improve well-being while reducing economic footprint.
• 💡 Degrowth is not austerity; it's about sharing resources more fairly and curbing unnecessary consumption.
• 🛑 Measures such as curbing advertising, taxing carbon, introducing a basic income, and reducing the working week are suggested.
• 📊 The GDP is an inadequate measure of progress, ignoring environmental and social costs.
• 🌐 There's a need for a new economic model that promotes human flourishing in harmony with the planet.

Q & A

What is the main issue discussed in the transcript?

The main issue discussed is the addiction to economic growth and its detrimental effects on the environment, including climate change, deforestation, and rapid rates of extinction.

Why is economic growth considered unsustainable?

Economic growth is considered unsustainable because it requires infinite growth on a finite planet, which leads to overconsumption and overshoots the Earth's biocapacity by nearly 60%.

What is the role of rich countries in this crisis?

Rich countries play a significant role in this crisis as they use more than three times their fair share of biocapacity, contributing to overconsumption.

What is the proposed solution to prevent ecological collapse?

The proposed solution is 'Planned degrowth', which aims to increase human well-being and happiness while reducing economic footprint and consumption.

How is degrowth different from austerity?

Degrowth is different from austerity in that its goal is to improve human well-being and happiness, not just to reduce economic activity.

What are some strategies mentioned to achieve degrowth?

Strategies mentioned include sharing resources more fairly, curbing advertising, taxing carbon, introducing a basic income, and a shorter working week.

Why is GDP criticized in the transcript?

GDP is criticized because it is a crude measure of progress that ignores environmental and social costs, and it increases with negative outcomes like natural disasters or hospital visits.

What is suggested as an alternative to GDP?

The Genuine Progress Indicator (GPI) is suggested as an alternative to GDP, as it takes into account GDP and subtracts negative outcomes to account for the costs of growth.

What is the goal of the economic model proposed in the transcript?

The goal of the proposed economic model is to promote human flourishing in harmony with the planet, emphasizing sustainability and well-being over mere economic growth.

What is the first step towards achieving this new economic model?

The first step is to overthrow the tyranny of GDP and adopt a more sensible metric that reflects the true costs and benefits of economic activity.

How can a shorter working week contribute to degrowth?

A shorter working week can contribute to degrowth by allowing for the redistribution of labor, reducing unnecessary jobs, and promoting a better work-life balance.