Capitalism and limits to growth and well being: Is it a Self Destroying mechanism?
Two new books have come which discuss the culture of growth and consumption in the western world and the limits to Capitalism. Here is a discusion on Economist Podcast about the two books and some of the interesting points being made:
Blind Growth puts Good life itself in peril
We are richer than before, but we are also more productive – and these two work against each other at individual level.
Keynes was right when he said that in 100 years, all the problems of poverty in West will be taken care of. The important assumption he missed was that when people become rich, they don’t enjoy the riches, but work harder for more.
Also, one man’s leisure is another man’s labor. So the society as a whole is never enjoying the fruits of wealth and growth simultaneously.
We cannot keep growing like this endlessly. The very concept of our good life is in danger.
The books are: (Click on image for the link to the book)
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