Slow growth fetish

Duration: 14min 39sec Views: 1532 Submitted: 13.01.2021
Category: Squirt
MarketWatch -- What do we do now, oh great Zen master? His sage advice to economists, politicians and investors everywhere: "The future ain't what it used to be. We made too many wrong mistakes. You've got to be very careful if you don't know where you're going, because you might not get there. At the crossroads: Growth! Capitalism's most sacred commandment -- "grow or die" -- may itself be on death row.

GDP 'growth' fetish is killing your retirement

Tomáš Sedláček: Czech Economist Criticizes Growth Fetish

Not much in our society is more faithfully followed than economic growth. Its movements are constantly monitored, measured to the decimal place, deplored or praised, diagnosed as weak or judged healthy and vigorous. Newspapers, magazines, and cable channels report regularly on it. It is examined at all levels -- global, national, and corporate. Indeed, one of the few things on which left, right, and center agree is that growth is good and more of it is needed.

Off the Pedestal: Creating a New Vision of Economic Growth

He is also the author of a number of books, including the bestseller "The Economics of Good and Evil. In an interview with Handelsblatt, he says we have a fetish about growth that is damaging. He also compared loose monetary policy to drug addiction and had plenty of advice for Europeans as they start building walls and fighting each other in the face of the refugee crisis. What do you think about that? A zero interest rate means believing there is no risk in the future.
Is anything in America more faithfully followed than economic growth? Its movements are constantly watched, measured to the decimal place, deplored or praised, diagnosed as weak or judged healthy and vigorous. Newspapers, magazines, and cable channels report endlessly on it. Promoting growth may be the most widely shared and robust cause in the United States today.