Growth and Degrowth: Rethinking the Role of our Economy in Creating Social Welfare
On 15 January at 12:00
Is growing economy the road to better lives? Consider China or India, two countries that were very poor thirty years ago and that have grown at a rate of nearly 10% yearly since the early 1990s. In both countries people’s well-being failed to improve despite sustained economic growth. Also in some developed countries, such as the United States or Luxembourg, economic growth did not improvepeople’s well-being. It seems that economic growth does not keep its promise to improve people’s lives. Why is it so? In some countries, defensive expenditures are an engine of growth: people’s efforts to protect themselves against bad things such as pollution, car accidents, crime, poor health or loneliness feed economic growth. If this happens, people's well-being does not improve despite growing economy. However, in some countries economic growth and well-being are durably associated. These are countries where inequality is low, trust in others is high, and where institutions function effectively to provide their citizens with safety nets. In these countries economic growth is often slower, but it is compatible with better lives.
Orator: Francesco Sarrancino
When: 15 january 2020 from 12:00 to 13:30
Where: Caritas Luxembourg, 29, rue Michel Welter, L-2730 Luxembourg