Time to rethink recessions and economic growth – less could be more
John Rapley is a political economist at the University of Cambridge and managing director of Seaford Macro.foresee a world that’s unlivable for some and unpleasant – even quite unpleasant – for most. If you have children, or hope to one day have children, is such an uncertain future one you wish to bequeath them? So spare a thought for those climate activists splashing paint on a van Gogh. We need to cap global carbon emissions, and we need to do it now.
But it’s also partly down to the fact that even were the rate of technological change to surpass our appetite for more, allowing Western countries to produce more stuff with less carbon, we’d still have a problem. Global output would still keep rising as the bulk of humanity in developing countries expand their economies until they converged with ours.
can afford to talk about cutting back. Governments in poor countries, faced with the choice between saving life tomorrow and saving it today, will press the growth accelerator.
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