Economic Growth

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Description

Samuel Alexander:

"In order to be for or against ‘growth’ it is important to understand what that term means, so I will begin with some definitions.


Growth can be understood in various ways, including:

1. An increase in the resource/energy requirements of an economy (quantitative growth);

2. An increase in the productivity per unit of resource/energy (qualitative growth);

3. An increase in Gross Domestic Product (GDP growth);

4. An increase in wellbeing or happiness (wellbeing growth).


These are all legitimate ways to understand growth but they are not synonymous. One form of growth may or may not lead to other forms of growth. Some forms of growth may have limits, others may not." (http://d2hqr0jocqnenz.cloudfront.net/cdn/farfuture/RFOgKDaIzpgM9yjt1sW6ZSXfvlC5ZrJve7xLCgiDqh4/mtime:1461028632/sites/default/files/docs/MSSI-IssuesPaper-6_Alexander_2016.pdf)