ABSTRACT
Although this chapter is entitled ‘The economy’, the issue for the planet at the moment of writing is ‘growth’ and the question of whether economic development is reaching planetary limits. Adverts tempt us to buy a bigger car, replace our clothes with more fashionable items before the ones we already have wear out, and many people eat more than is good for them, leading to rates of diabetes and obesity growing. Recently (in 2012), assumptions about growth in gross domestic product (GDP), wages and profits from dealing in stocks and shares have been brought into question, globally, by failure of the banks, double-dip recessions and possibilities of depression in the UK. What do these words mean? There are definitions later in the chapter. What happened? What is the role of mathematics in the workings of an economy? Using the idea of the formatting power of mathematics from Chapter 1, the economy is an area in which mathematics plays a role in creating the social conditions of our world. Are there examples of the translation of human experience to mathematical terms and even the formatting power of mathematics embedded within the recent crises? This chapter aims to explore the idea of growth, finding out where it has come from and exploring different models including those suggested for a sustainable future.
