chapter  13
Managing without growth
Pages 26

There are three main arguments why developed countries should consider managing without growth. First, continued economic growth worldwide is not an option, owing to environmental and resource constraints, and so developed countries should leave room for growth in developing countries where the benefits of growth are evident. Second, economic growth in developed countries is neither necessary nor sufficient to achieve full employment, the abolition of poverty, and protection of the environment. Third, in developed countries, there is evidence that growth has become uneconomic in the sense that it detracts more from wellbeing than it adds (Daly, 1996). There is an extensive literature exploring these arguments, much of which is summarised in Common and Stagl (2005: ch. 6 and 7). They are developed more fully in Victor (2008).