31 Aug '13, 5pm

how it is that "growth in some industrialised countries is making the majority of their populations worse off"

Although it is easy to see how the adoption of such technologies could mean that growth destroys more benefits than it creates, firms have been introducing new processes for hundreds of years and, as we have seen, it is only within the past two decades or so that ISEWs have fallen despite increases in per capita GNP. What has changed? The answer can be given in one word: Globalisation, a process which has destroyed almost every government’s ability to maintain a healthy balance between the interests of corporations and the welfare of its citizens. In most countries scarcely a day goes by without a politician or businessperson announcing that unless the road network is improved, or social welfare benefits reduced so that taxes can be cut, or the use of genetically-modified organisms permitted, or the school curriculum made more relevant to the work-place, or the rate of inc...

Full article: http://www.feasta.org/1997/05/08/the-problem-with-economi...

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