Relentless consumption promoted by economic growth is killing the planet, or so some people argue. Adam Posen outlined why, in fact, economic growth is the key to saving the planet:

• A cleaner planet requires that unclean industries are overhauled.
• This is easier to do if there’s economic growth. A dirty power plant might be shut down but industrialists and workers can hope for a different, brighter future in a new industry.
• Growth also promotes efficiency – doing more with less – key to helping the planet.
• The empirical evidence backs this up – over the decades it is economies that were growing such as Japan, Germany, and China, that have led the fight to reduce carbon emissions.

The full article fleshes out other reasons for the importance of economic growth, and provides a rebuttal by Tim Jackson who argues that low or no growth is the key to stability. Read it here.

Source: The Economist