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economic growth
Economic Growth Is the World’s Most Dangerous Game
The game of growth has convinced us that the only way we can win is to continue to play.
Dec 14, 2024
In Richard Connell’s popular short story “The Most Dangerous Game,” hunter Sanger Rainsford goes overboard while sailing to the Amazon, washing up on an island owned by deceivingly charismatic General Zaroff. Rainsford expects Zaroff to help him off the island, but instead, Zaroff invites him to participate in a hunt.
A hunt, to Rainsford’s utter disbelief, in which he is the prey.
Our reckless pursuit of economic growth has become society’s “most dangerous game.” It keeps us trapped on an island of inequality, environmental degradation, and corporate power, all while convincing us there’s still a chance we can win if we continue to play.
To win this game, we can’t keep playing by the rules, but rewrite them entirely. We can start by challenging one of the most dominant rules of the growth model: Gross Domestic Product (GDP).
But there is no “winning” in a game dependent on the exploitation of people and nature. As long as “growth” is defined by profits and production, people and the planet will always lose.
That is, unless you are one of the few Zaroffs of the world: According to an Oxfam report, the world’s top 1% own more wealth than 95% of humanity, and over the past 30 years, income inequality has steadily risen to the point where many economists believe wealth is more stratified today than any time since the Gilded Age.
If economic growth doesn’t deliver its promised benefits, then why do we continue to play? Because those who preach economic growth as a path to prosperity—usually the same people who bag the most benefit—have engineered a game of forced “choice:” Hunt, or be hunted. As Zaroff explains to Rainsford, “I give him his option, of course.” But if they decline, he hands them over to his servant for torture. “Invariably,” Zaroff muses, “they choose the hunt.”
The same logic is used to silo economic and environmental objectives, perpetuating the false premise that reducing poverty and raising living standards must come at the cost of climate action. Such “choice” is equally manufactured—if economic growth is truly a means of improving societal well-being, shouldn’t actions that secure and sustain access to basic necessities be a vital part of our economy?
Even Americans seem to agree that economic growth is an incomplete measure of prosperity. In a nationally-representative survey of 3,000 participants, conducted by survey organization Verasight between October 21 and November 5, only 12.8% (with a 2.3% margin of error) responded that economic growth is a “mostly accurate” way of assessing societal well-being. The rest were skeptical, with 50.8% calling it “somewhat accurate” and 36.5% deeming it inaccurate altogether.
And yet, despite the dissatisfaction, dissonance, and destruction that our economic model begets, pundits and policymakers “invariably” brandish growth as the hallmark of prosperity. Meanwhile, the Zaroffs of the world continue to indulge their unchecked appetite for profit, capitalizing off the preservation of the status quo.
To win this game, we can’t keep playing by the rules, but rewrite them entirely. We can start by challenging one of the most dominant rules of the growth model: Gross Domestic Product (GDP).
GDP is a measure of aggregate production, not a reflection of progress and well-being. It excludes the costs of pollution and exploitation and ignores 16.4 billion hours of unpaid labor, much of which is performed by women. It also omits many non-materialistic goods (health, family, and equality) that define happiness and quality of life. In fact, economists have always warned against conflating GDP with societal well-being—even one of its founders, Simon Kuznets, told Congress that GDP was a poor tool for policymaking.
As Robert Kennedy put it in his 1968 election speech, GDP “measures everything in short, except that which makes life worthwhile.” By adopting more inclusive measures of progress that consider health, equality, and environmental well-being, we can move beyond the flawed metric of GDP as a measure of prosperity. In doing so, we build economies that prioritize people and the planet instead of outrageous profits.
Such measures are already gaining traction in the U.S. and across the globe. For example, India’s Ease of Living Index assesses the well-being of 114 Indian cities, using a total of 50 indicators that fall under three pillars: Quality of Life, economic ability, and sustainability. At the international scale, the United Nations is working to advance a “Human Rights Economy” that anchors all economic decisions in human rights. In the U.S., Vermont became the first state to adopt an alternative to GDP called the “Genuine Progress Indicator” in 2012, shortly followed by Maryland and 19 other states.
These measures aren’t perfect, nor should they be the only way we address a system that continues to inflict irreparable damage on global ecosystems and communities. However, they play a crucial role in disrupting our current growth paradigm, establishing an economic model where well-being isn’t exclusive to the wealthy, and where societal and environmental objectives are aligned.
It’s time we expose the injustices of our economic system, rewrite the rules, and beat the Zaroffs of the world at their own game.
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Beware the Fasci-Clown: Working Class Anxiety in an Age of Climate Catastrophe
Much of the working class, feeling neglected and sidelined by the Democratic Party for decades, are increasingly prepared to allow Trump to twist and turn their grievances into shapes that fit a fascist agenda.
Nov 13, 2024
We now live during the time of the fasci-clown. In post-election analyses, all the discussions of the appeal of his racism and patriarchy capture important things. But they may not speak starkly enough to why these sentiments run so deep and cut so broad a swath, though for different reasons, through both the white donor class and so much of the working class. Neither do they explain how and why growing segments of the populace laugh so much at Trump's fascist humor. Dressing up and clowning as a "garbage man" illustrates only one recent instance of that conjunction.
The donor class knows, and much of the working class senses, that neoliberal capitalism cannot survive in its old form for much longer. Knowing that, the donor class intends to capture as much wealth and power as it can in the time left to it, prepared to support a transition from neoliberalism to fascism if that is what it takes. Elon Musk is a perfect exemplar here, turning Twitter into a propaganda machine, becoming the fasci-clown’s Goebbels, and informally assuming the role of his economic lieutenant, preparing to impose punishing austerity in the name of a restoration of a pre-New Deal government. So much of the working class, feeling neglected and sidelined by the Democratic Party for decades, are increasingly prepared to allow Trump to twist and turn their grievances into shapes that fit a fascist agenda.
Why? Filtering into the sense of extreme entitlement of the superrich and desperation of growing segments of the working class-- sliding into those intensities in ways electoral polls do not directly capture--is a sense that the old alternatives are not working and cannot be sustained into the indefinite future. Workers, for instance, probably do not truly believe that climate wreckage is a liberal farce. Many sense that it is real, but that attempts to really reckon with it would leave them in the lurch. So they laugh at the clown's outrageous jokes, hateful comments about women, race, transgender people and immigration, and allow the fasci-clown to twist their grievances into support for his themes.
In Mein Kampf, Hitler, the fascist, malignant narcissist, and vicious humorist, summarized in two sentences the essence of his campaign to become Fuhrer:
"It belongs to the genius of a great leader to make even adversaries far removed from one another to belong to a single category, because in weak and uncertain characters the knowledge of having different enemies can only too readily lead to the beginning of doubt in their own right." And: "If he suspects they do not seem convinced by the soundness of his argument, repeat it over and over with constantly new examples."
The irony, just lurking below the rhetorical surface, is that neoliberal capitalism, in both the past and today, fosters the climate wreckage that helps to drive refugees north; and it will increasingly do so in the future.
For Hitler, writing after the massive German defeat in WWI, high inflation, and the return of hardened soldiers from battle with no jobs, Jews became the "red thread" to which he tied, through constant repetition, military defeat, social democracy, and communism. He thus condensed multiple adversaries into one enemy. For Trump, living during a time when imperial instabilities and climate wreckage create more and more refugees heading from southern to northern states, immigrants of color become the new red thread. The stagnation of the working class, the problems facing large cities, the "uppity-ness" of women of color, the snarky-ness of the liberal snowflake, and the loss of "black jobs," are all tied to the red thread of immigration. As you intensify opposition to immigration by, first, treating immigration as something insidious as such, and, second, linking it to everything else you oppose, you thereby loosen the rhetorical reins previously restraining public attacks on women, Blacks, Democrats, cities, and secularists. They are all now placed on the same line of associations, with resentments to any one magnified by those felt against others. A brilliant, cruel campaign.
The irony, just lurking below the rhetorical surface, is that neoliberal capitalism, in both the past and today, fosters the climate wreckage that helps to drive refugees north; and it will increasingly do so in the future. That is the truth that Trump and his followers must resist and shout down whenever it rears its ugly head. That is one reason racism must be intensified by the fasci-clown. This core truth must never be acknowledged: America works to produce the immigration it increasingly abhors.
But what about us? That is, what of those of us on the democratic left who have resisted Trump, supported Harris, and oppose the regime the fasci-comic seeks to impose? We participate, in at least one way, in the very condition we resist. As neoliberal capitalism morphs toward fascist capitalism during the second Trump term, we too have failed to come up with an alternative that could both work and attract droves from the working and middle classes to it.
This core truth must never be acknowledged: America works to produce the immigration it increasingly abhors.
As productive capitalism forges a future it cannot sustain in the face of growing climate wreckage, as many flirt with fascist capitalism to avoid facing this truth, nobody really believes in the alternative models of rapid growth and mastery over nature supported by classical social democracy and communism either. The danger of fascist capitalism, indeed, is tied to the failure of other familiar critical traditions to respond in a credible and sufficient way to the time of climate wreckage. This failure insinuates itself inside climate denialism and casualism today.
Such a failure encourages many to deny climate wreckage, that is, to embrace fascist tendencies. It may also encourage others to pretend that it can be resolved within either old forms of productive capitalism or one of the twentieth century alternatives to it. So, we critics, too are caught in a bind. We insist that immigration is good economically, by which we mean that it will lead to greater economic growth, when the truth is that the pursuit of that growth is at the heart of our current crisis. Is our failure connected in some subliminal sense to the growing attractions of many others to Big Lies today, to lies that growing numbers embrace without necessarily believing?
Our sense—though we cannot prove it—is that growing attractions to, and tolerances for, fascist capitalism within the working classes is tied to a larger intellectual failure to show how to evolve a political economy that curtails the future scope of climate wreckage while speaking to real grievances and anxieties of the working class writ large. Unless and until that happens it will not be that hard for fasci-clown leaders to attract the billionaire class and capture large segments of the working class. Fascist humor flourishes when no other responses to deep grievances appear credible.
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What Do We Mean by Transformative Change?
We should seek to drive changes so deeply that our country eventually emerges with a new system of political economy, one that routinely delivers good results for people, place, and planet.
Jun 22, 2024
Progressives and many others agree on one thing: Across a broad front of national life, the American economy and our politics are not delivering good results. The documented truth is that the conditions of life and living in our country are deplorable for most people, with almost all measures of public well-being behind other upper income countries.
That has been the case for decades, actually, and is one of the things that accounts for the widespread political disaffection in American today. When combined with extraordinary wealth concentrated in the hands of a tiny minority, the unsurprising result is public anger and resentment.
A host of reforms are advocated to improve key aspects of national life—in education, healthcare, child welfare, finance and banking, environmental and climate protection, taxes, social justice, advancement of women, and more. Getting such reforms adopted would make a huge difference. But more and more people are sensing that something deeper must be done, that what we should think of as our political economy—the combination of our economy and the politics that support it—is badly flawed and incapable of meeting today’s big challenges.
What we should be moving toward is the law of the next system, beyond today’s capitalism and yesterday’s socialism.
This realization has led to the now-frequent call for transformative change. There is a hunger for deep change but uncertainty about what that means. I want to spell out here what I think transformative change could and should look like. Overall, we should seek to drive transformative changes so deeply that our country eventually emerges with a new system of political economy, one that routinely delivers good results for people, place, and planet.
I know that this idea of a new political economy is too big to swallow whole. It can best be approached, I think, through a series of interacting, mutually reinforcing transitions—transformations that attack and undermine the key motivational structures of the current system, while replacing these old structures with new arrangements needed for a flourishing of human and natural communities.
I believe the following transitions hold the key to moving to this new political economy. We can think of each as a progression from today to tomorrow. In each of these areas, there are currently laws and policies that shape today’s realities. Collectively, we can think of these laws as the law of today’s corporatist, consumerist capitalism. What we should be moving toward is the law of the next system, beyond today’s capitalism and yesterday’s socialism.
Economic Growth: From growth fetish to post-growth society, from mere GDP growth to growth in social and environmental well-being and growth focused squarely on democratically determined priorities.
Indicators: From GDP (“grossly distorted picture”) to accurate measures of social and environmental health and quality of life.
The Corporation: From one dominant ownership and profit-driven model to new business models embracing economic democracy and goals other than profit, from shareholder primacy to stakeholder primacy.
The Market: From neoliberal market worship to powerful market governance in the public interest, from dishonest prices that neglect external costs to honest ones, from unfair wages that neglect productivity to fair ones, from commodification to reclaiming the commons.
Money and Finance: From money created through bank debt to money created by government, from investments seeking high financial returns to those seeking high social and environmental returns, from Wall Street to Main Street.
Social Conditions: From economic insecurity to a guaranteed income; from vast inequalities to equitable distribution and fundamental fairness; from racial, religious, gender, and other invidious discrimination to firm protection of rights and personal security.
Consumerism: From consumerism and affluenza to sufficiency and mindful consumption, from more to enough, from materialism to finding meaning and value in non-material things.
Communities: from runaway enterprises and throwaway communities to vital local economies, from social rootlessness to rootedness and community solidarity.
Dominant Cultural Values: From having to being, from getting to giving, from richer to better, from isolated to connected, from me to us, from apart from nature to part of nature, from near-term to long-term.
Politics: From weak democracy to strong, from creeping corporatocracy and plutocracy to true popular sovereignty and empowerment of marginalized groups, from threatened civic and personal rights to secure ones.
Foreign Policy and the Military: From American exceptionalism to America as a normal nation, from hard power to soft, from military prowess to real national and international security.
The good news is that we already know a great deal about the policy and other changes needed to move strongly in each of these directions, even value change. There are books full proposals and, importantly, advocacy groups working for many of them.
Also, we are seeing the proliferation of innovative models along the lines sketched here, particularly at the local level: sustainable communities, transition towns, solidarity and local living economies, sustainable and regenerative agriculture, participatory budgeting, locally owned and managed energy utilities, local currencies, and community development and investment institutions. Campaigns proliferate: Black Lives Matter! Move Your Money! Take Back Your Time! Own Your Own Utility! Live Lightly That Others May Live!
We are also seeing the spread of innovative business models that prioritize community and environment over profit and growth—including social enterprises, for-benefit business, worker-owned and other cooperatives, and local credit unions—as well as numerous campaigns for fair wages, worker rights, pro-family policies, climate action, and minority justice. Together with new community-oriented and Earth-friendly lifestyles, these initiatives provide inspirational models of how things might work in a new political economy devoted to sustaining human and natural communities. Practical utopians at work and play, bringing the future into the present!
Out there, between despair and hopium, are the grounds for struggle.
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