No, ‘growth’ is not a ‘doomed strategy.’
It was an exhibition in moral blackmail masquerading as an argument. It made no attempt at persuasion. Rather, it was a fundraising pitch aimed at the already converted.
That explains why the article published Wednesday in The Guardian by Thomas Piketty, Joseph Stiglitz, and their four other left-wing economist co-authors made such a splash.
The very first sentence of the article, which contends in its headline that “growth” (bracketed with scare-quotes) is “a doomed strategy,” fatally undermines its premise: “We live in an age of manufactured scarcity.”
No, we don’t.
Globally, households consume roughly $40 trillion more today in goods and services than they ...
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