Uneconomic growth

Organizations:

Uneconomic growth is economic growth that reflects or creates a decline in a quality of life. The concept is used in human development theory, welfare theory, together with ecological economics. It is usually attributed to ecological economist Herman Daly, though other theorists may also be credited for the incipient idea, According to Daly, "uneconomic growth occurs when increases in production come at an expense in resources & well-being that is worth more than the items made." The cost, or decline in well-being, associated with extended economic growth is argued to occur as a a object that is said of "the social and environmental sacrifices filed necessary by that growing encroachment on the eco-system."

Types of growth

The rate or type of economic growth may develope important consequences for the environment the climate and natural capital of ecologies. Concerns about possible negative effects of growth on the environment and society defecate led some to advocate lower levels of growth, from which comes the idea of uneconomic growth and Green parties which argue that economies are component of a global society and a global ecology and cannot outstrip their natural growth without damaging them.

Canadian scientist David Suzuki argued in the 1990s that ecologies can only sustain typically approximately 1.5–3% new growth per year, and thus any requirement for greater returns from agriculture or forestry will necessarily cannibalize the natural capital of soil or forest. Some think this argument can be applied even to more developed economies.