Economy of Enough
Shift to a steady-state economy aimed at collective welfare, not greed and resource overshoot.
What Must Be Done
- Shift to a steady-state, circular economic model that ensures we are not consuming more ecosystem resources than the planetary ecosystem can regenerate (resource overshoot)
- Gradually reset existing fiscal, monetary, and trade policy levers from growth toward a steady state.
- Expand local self-sufficiency and reduce international trade in favour of local production of energy, food and basic necessities.
- Replace vested interest lobbyists with citizens assemblies for crucial economic decision-making and resource allocation.
Resource overshoot – our current economic system relies on continually expanding activity (growth) to maintain momentum. It is dependent on a continual supply of natural resources and continual expansion of markets. But our planet’s natural resources are finite and are reaching their limits. To supply the whole world with the products common in Western countries would require the resources of several Earths.
Growth drives global warming. “…to reduce energy-related emissions to at least half the 2019 level by 2030 en route to zero or near-zero CO2 emissions by 2050” … likely entails economic degrowth in high-income countries”
Many people and organisations have described what such a steady-state / circular / doughnut economy would look like and the path by which countries could transition from a growth-based economy to one that ensures they do not consume more ecosystem resources than the planetary ecosystem can regenerate. These include:
- Kate Raworth’s TED talk on The Doughnut Economy
- CASSE’s Top 15 Policies for Achieving a Steady State Economy
- Jason Hickel “Less is More” 2021
- Jeanette Fitzsimons “Enough! The challenge of a post-growth economy” 2013 Quaker Lecture
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Comments, reactions or suggestions you are willing to add to this public thread would be greatly appreciated…
Hi. Could getting rid of compound interest (nationally and eventually, internationally) be included here too? This is another inequality that gets the rich richer and the poor poorer – and the banks always win! It is such an ingrained part of our financial system that it’s easy to miss out in terms of proposed change.
Some young people have almost given up hope!So much talk,but we can’t give up!We are pushed against the wall and now have no choice but to change and bloody fast too!
Thanks for your comment, Helen. Totally agree and it’s spurring us on to update this page as lots has been happening in Aotearoa and globally since we psted this page last May. The Wellbeing Economy Alliance (WEAll) last year appointed Gareth Hughes as its NZ lead and he’s been holding workshops round the motu and I think is hopig to come out this year with a set of concrete proposals as to how we could move to a steady state economy.
Also Degrowth Aotearoa NZ (DANZ) emerged klast year and has been holding webinars and runs a lively facebook page. So yes the conversations are starting to expand.
Ill aim to yupdate this page by th4 end of next week
Nga mihi nui\
This is something we can all do personally and can encourage others to do. Simple decisions like not exchanging presents at various occasions, can lead into discussions as to why. Most people are completely unaware of resource overshoot.
It can. Awesome!!
I wonder if WordPress can display hyperlinks submitted in Replies?
https://weall.org (Global Home)
Another good reference is WEALL – Well-being Economy Alliance, a global network started (I think) by Kate Raworth and others working in this area. Gareth Hughes has just started work as the Aotearoa NZ lead for WEALL – watch that space!