The end of growth : adapting to our new economic reality / Richard Heinberg.

Format:

Book

Author/Creator:

Heinberg, Richard.

Language:

English

Subjects (All):

Economic indicators.

Economic forecasting.

Economic development.

Natural resources.

Physical Description:

xiv, 321 pages : illustrations ; 23 cm

Place of Publication:

Gabriola, B.C. : New Society Publishers, [2011]

Summary:

As Energy and Food prices escalate and debt levels explode, paths that formerly led to economic prosperity now lead to disaster. This book proposes a startling diagnosis: the global economy has reached a fundamental turning point the end of growth. The Great Recession will not end in "recovery." Still, we can thrive in coming years if we abandon the futile pursuit of growth in consumption and aim instead for improvements in quality of life.

Richard Heinberg's latest landmark work goes to the heart of the ongoing financial crisis, examining why it occurred, and what we must do to avert the worst potential outcomes. Written in an engaging style, it shows why growth can't continue in the face of resource depletion, environmental devastation, and mountains of debt.

The End of Growth re-evaluates cherished economic theories and describes what policy makers, communities, and families can do to build a new economy that operates within Earth's budget of energy and resources. We can thrive during the transition if we set goals that promote human and environmental well-being, rather than pursuing the now-unattainable prize of ever-expanding GDP. Book jacket.

Contents:

Introduction: The New Normal 1

Why Is Growth Ending? 2

The End of Growth Should Come As No Surprise 4

Why Is Growth So Important? 6

But Isn't Growth Normal? 10

The Simple Math of Compounded Growth 12

The Peak Oil Scenario 15

From Scary Theory to Scarier Reality 18

Bursting Bubbles 19

What Comes After Growth? 20

A Guide to the Book 22

1 The Great Balloon Race 27

Economic History in Ten Minutes 28

Economics for the Hurried 34

20th-century Economics 38

Business Cycles, Interest Rates, and Central Banks 41

Mad Money 46

I Owe You 51

2 The Sound of Air Escaping 55

Houses of Cards 56

Setting the Stage: 1970 to 2001 57

Shadow Banks and the Housing Bubble 61

What Goes Up 63

The Mother of All Manias 70

Limits to Debt 72

All Loaned Up and Nowhere to Go 81

Stimulus Duds, Bailout Blanks 83

Actions by Other Nations and Their Central Banks 91

After All the Arrows have Flown 92

Deflation or Inflation? 96

The Bridge to Nowhere 99

3 Earth's Limits: Why Growth Won't Return 105

Oil 106

Other Energy Sources 113

How Markets May Respond to Resource Scarcity: The Goldilocks Syndrome 118

Water 124

Food 129

Metals and Other Minerals 138

Climate Change, Pollution, Accidents, Environmental Decline, and Natural Disasters 145

4 Won't Innovation, Substitution, and Efficiency Keep Us Growing? 155

Substitutes Forever 156

Energy Efficiency to the Rescue 164

Business Development: The Cavalry's on the Way 174

Moore's or Murphy's Law? 177

Specialization and Globalization: Genies at Our Command 181

5 Shrinking Pie: Competition and Relative Growth in a Finite World 189

The China Bubble 190

CurrencyWars 202

Post-Growth Geopolitics 208

Population Stress: Old vs. Young on a Full Planet 212

The End of "Development"? 217

The Post-Growth Struggle Between Rich and Poor 224

6 Managing Contraction, Redefining Progress 231

The Default Scenario 233

Haircutsfor All... or Free Money? 236

Post-Growth Money 241

Post-Growth Economics 246

Gross National Happiness 255

Our Problems Are Resolvable In Principle 259

7 Life After Growth 267

Setting Priorities 268

Transition Towns 270

Common Security Clubs 273

Putting the New Economy on the Map 275

What Might a Sustainable Society Look Like? 280

Perspective 284.

Notes:

Includes bibliographical references and index.

ISBN:

9780865716957

0865716951

OCLC:

709681551