Commentary on future economic status is not bright. The recent IMF half-yearly report paints a gloomy picture for economic growth and global stability.
Europe and the US have their work cut out for them in maintaining stability, creating new jobs and avoiding recession. In Australia, the high dollar has hit exporters hard. These are certainly challenging times for the global economy as growth begins to slow.
There are a growing number of voices that challenge our perspective of continued economic growth. Clive Hamilton’s book, Growth Fetish, is one such voice. He challenges economic rationalism and its impact on our society and politics. Clive discusses a post-growth world where our relationship with the environment is redefined.
Further explorations into a different type of growth have been undertaken by the OECD and UNEP. They have been working on how to decouple economic growth from resource use. In essence, maintaining some form of economic growth with more efficient resource consumption. This concept has given rise to the term ‘Green Growth’. The OECD have developed information on policies, frameworks and monitoring tools to support green growth. More information from the OECD on Green Growth can be found here.