POSTED: January 22, 2019
Economy | System Dynamics

Managing Without Growth—Slower by Design, Not Disaster

Revised second edition of Peter Victor’s influential book. Human economies are overwhelming the regenerative capacity of the planet, this book explains why long-term economic growth is infeasible, and why, especially in advanced economies, it is also undesirable. Simulations developed with Tim Jackson, show that managing without growth is a better alternative.

Managing Without Growth can be purchased on the Edward Elgar website. A 35% discount offer is available until 31 March 2019. Use discount code “VICT35” when purchasing from Edward Elgar. For the simulation model please see our theme page.

Ten years after the publication of the first edition of this influential book, the evidence is even stronger that human economies are overwhelming the regenerative capacity of the planet, the possibilities for a smooth transition to a sustainable economy have diminished. This book explains why long-term economic growth is infeasible, and why, especially in advanced economies, it is also undesirable. Simulations based on real data show that managing without growth is a better alternative.

The book tells how the recent idea of economic growth emerged from the idea of progress, itself only a few hundred years old. Many reasons for questioning growth are given based on an extensive review of the data as well as on conceptual and methodological considerations. The experience of growth in several countries is documented, compared and found wanting.

Possibilities for managing without growth in high income economies are simulated with a new, comprehensive systems model, co-developed with CUSP Director Tim Jackson. Three 50 year scenarios are compared: a base case, an ambitious greenhouse gas reduction scenario, and a sustainable prosperity scenario with broader environmental objectives, reduced income inequality, shorter working hours and the cessation of economic growth. The book closes with a review of policies to make this scenario a reality.

Book launch

The UK book launch took place on 25 January 2019 with a reception at the Royal Thames Club. The Canada launch with guest speakers including David Miller, Karen Kraft Sloan and David Suzuki was held on 5 February.

FURTHER READING

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