Is It Time to Ditch the Pursuit of Economic Growth? Research Paper Example

Society has gotten to a place where, no matter what we have, there is always a desire for more. More money, more jobs, more resources, and more opportunities to make more money. We strive for promotions, work for the most successful companies, and plan our futures based on the increased salaries. Stressing over the fact that each position is replaceable, and employees do not hold the same value they use to. The desire for progression is not in debate, clearly the ultimate goal it move forward in every potential venture in life. However, it has recently came to light the potential that the obsession for growth may be causing negative outcomes instead of the positive. Clearly this has created a lot of debate because it steps outside of what is economically logical. There comes a time when society has to realize that there is such a thing as enough growth; the pursuit of economic growth has come at the cost of the environment and the peace of mind society needs in their working environment.

Even though the concept may not be exactly understood. It have come to the point were economic growth may not be a positive thing, in fact quite the opposite. Using Britain for an example, it has tripled since 1950, and it contrary to assumption, the people are not happier. Inequality seems to have become a large area of concern again and jobs lack the security that individuals would desire.  It has also caused greater use of resources and environmental threats have risen as well. This could lead individuals to believe that economic growth is not necessary worth the cost. Dan addressed Daniel’s belief that economic expansion has not expanded too far. “You say you don’t believe in ‘infinite economic expansion’. This is comforting because it shows you recognize there is a point where expansion should end. But where is this point for you? It should be where the costs of additional growth (for example, environmental degradation) begin to exceed the benefits (for example, more goods and services)” (O’Neill & Ben-Ami). Clearly this is important in determining which side of the argument one takes. Even being for economic growth, there is a line that needs to be drawn.

The environment is being significantly strained because of the economic development. Depleting the oceans, harming the ozone, demolishing the forests, these are the resources that society needs to live. So building more factories, and office buildings in order to be economically persistent, comes with a higher price than just the cost of materials. This is the point that Dan was arguing in his debate in Is it Time to Ditch the Pursuit of Economic Growth? Adjusting our mentality that we have enough is very challenging as well. Society is predispositioned to know that if we are progressing we are failing. Changing that mentality could also be considered dangerous. We do not want to become a passive society.

The idea of steady-state economy is the idea of being able to balance the consumption of resources and population. “In a steady-state economy, consumer goods would be made to last longer and when products are broken they would be repaired, rather than thrown away. Science and technology would be focused on conserving resources, not exploiting them. People would be consuming less in the way of resources, but enjoying more leisure time. What we would lose in the way of material comforts would be compensated for by less stress, more connection with family and friends, and more time for physical exercise and creative pursuits”(Walker) Knowing ecological limits is just as important as economic expansion and the quality of life.

If society refuses to put the consumption into balance, or the nature by which we live will ultimately fail to provide for us. There comes a time when economic growth has to stop. As economically unheard of that is, it is still necessary to accept that at some point we have to accept what we have. Technology can aid in development, but it cannot preserve the environment. The idea of consuming less and enjoying more is important to the concept of steady-state. Dietz and O’Neill have not been able to create specific details regarding the idea of a steady-state economy, but it is an idea to consider going forward. The book Enough is Enough has a lot of statistical information and aids in addressing different aspects in the need for change. Details on the economic strain, and if we move forward how society will inevitable suffer due to the lack of resources.

There comes a time when society has to realize that there is such a thing as enough growth; the pursuit of economic growth has come at the cost of the environment and the peace of mind society needs in their working environment. Knowing the proper balance is a calculation that needs to be revisited. Economic growth is not a bad idea, however it cannot be at the cost of our society or environment. Taking these factors into consideration will require development to adopt some form of green initiative and society security. This will not be an easy fix to figure out, but it is important for our future. The idea of having everything that society needs and the time to enjoy it shows the probability that there is a balance available for us to find. Regardless, it is time for change, and continuing on in the path we are heading is nothing more than dangerous.

Work Cited

O’Neill, Dan & Daniel Ben-Ami. Argument: Is it Time to Ditch the Pursuit of Economic Growth? 2013. Web. 3 April 2014.             http://newint.org/sections/argument/2013/05/01/economic-growth-argument/

Walker, Robert. When Enough is Enough. 2014. Web. 3 April 2014. http://www.huffingtonpost.com/robert-walker/when-enough-is-enough_b_2623406.html