A chara, – Orla Kelly’s article “Is it time for Ireland to consider degrowth?” (Opinion & Analysis, August 10th) asserts that we must be “reflective and deliberative on how we might best trace our path to a low-carbon future”.
As she points out, GDP growth is now widely considered to be a dubious economic goal. Indeed, it is not only problematic in environmental terms, but also in its social effects.
However, there is considerable concern in policy and business circles that a low-growth or negative-growth economy will lead to serious problems with investments, debt repayments and unemployment.
The Ireland-based think tank Feasta, the Foundation for the Economics of Sustainability, is working with fellow members of the Wellbeing Economy Ireland Hub and our colleagues worldwide in the global Wellbeing Economy Alliance to identify ways to bring about a “growth-agnostic”, wellbeing-oriented economy, which can effectively address these financial and employment concerns and can function well regardless of whether or not national GDP is expanding.
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Indeed, the potential for a wellbeing-oriented economy to bring about a better quality of life for everyone – not only in wealthy countries such as Ireland but also in the Global South – makes this a very exciting and encouraging area to work in.
Many solutions exist already and can be implemented more widely.
However, they need to be accompanied and supported by a reorientation of our overall economic vision. – Yours, etc,
CAROLINE WHYTE,
Feasta, the Foundation
for the Economics
of Sustainability,
Cloughjordan,
Co Tipperary.