Wednesday, October 10, 2007

George Monbiot is a genius

I hope that the recession now being forecast by some economists materialises. I recognise that recession causes hardship. Like everyone I am aware that it would cause some people to lose their jobs and homes. I do not dismiss these impacts or the harm they inflict, though I would argue that they are the avoidable results of an economy designed to maximise growth rather than welfare. What I would like you to recognise is something much less discussed: that, beyond a certain point, hardship is also caused by economic growth.
Update; I thought comment was superfluous here, but Norm lays out a couple of less-obvious criticisms here.

Update #2: Chris adds a good deal more here.

1 comment:

mikeovswinton said...

Its perhaps worth asking if commentators on serious, berliner style newspapers will get laid off and lose their homes, jobs and incomes in this putative recession. Or is this too obvious a question?