Vandana Shiva posits that the fallacy of economic growth (called GDP) promoted since World War II, has caused immense harm to nature & majority of households, while concentrating wealth in the hands of a few. [via Guardian]
Judge Richard Posner answers his own question: “I am dubious.”
Maybe children are actually an “inferior” good, valued most by poor people either because the children of the poor work to augment family income or because the family lacks the resources for such child substitutes as expensive cars, clothes, homes, entertainment, and travel. Increasingly in the wealthy countries both spouses work, increasing the opportunity costs to both parents of raising children. …
There is no necessary connection between population and economic growth. The sharp decline of Europe’s population because of the Black Death is thought to have increased per capita incomes significantly by reducing the ratio of people to arable land, resulting in improved nutrition.
Viewing humans as economic “goods” is ________ (fill in the blanks with your own answer).
Engineering endless growth, on the other hand, will be like cheering a tide that never stops rising – initially impressive before reality sets in.