It’s Time for the Economy to Shrink


With the frequent boom and bust cycles the economy goes through it is rare for people to argue that perhaps the downward portion of cycles should continue. Shrinking the economy can actually be a good thing when done with good direction. DW has gathered many examples of places and people around the world that are improving despite their economies declining.

Instead of recklessly pursuing economic progress we should consider slowing down and pursue sane economic and environmental progress.

Currently, few question the pursuit of economic growth. From national economic policies to international programs for sustainable development, growth has typically been the goal.

But some economists now argue that on a planet with finite resources, we may have to stop growing in order to survive.

“More economic growth means more and material extracted out of nature, and more and waste after we use these materials,” sais Giorgos Kallis, an ecological economist and editor of “Degrowth: A Vocabulary for a New Era.”

“With the current level of economic growth – and aspired levels of growth – there is no way to avoid dramatic and catastrophic change of the climate.”

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One thought on “It’s Time for the Economy to Shrink

  1. A good way to stop GDP growth: decree that all technology be frozen at 2016 levels. No more new smartphones or computer upgrades or new apps. No developments in medicine. Stop building roads and hospitals. Forget building green-energy infrastructure. Responsible human development is destroying the world!

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