I have listened to a TED talk by Kate Roworth, “A healthy economy should be designed to thrive, not grow”. She talked about an important topic of redefinition of the typical economy that is center only on growth. I learned there is another way, an alternative to humanity’s development. The main thought is, “what we need, especially in the richest countries, are economies that make us thrive whether or not they grow” (2018, 01:17-01:24). I agree with this point of view because infinite growth is a destructive and dangerous idea with which our system is obsessed. We need boundaries, even to them, for they are in the fabric of existence itself. When we deny them no matter what, it brings us only to degradation, for we lose our mainstay.
I think that the described topic and talk directly relate to macroeconomic measures and the long-run economic growth. Roworth (2018) discusses the global issues that we, humanity, face; therefore, a multidimensional problem lies in a macroeconomic domain. She addresses the long-run concept by emphasizing the necessity to create a balanced ecosystem where all spheres of our lives are in equilibrium and satisfied. I like her idea and its illustration, for I believe that humanity must stop and think about its direction where it is going blindly. Nothing can grow forever, and the same thing with the economy. Earlier, scientists and theorists thought that adverse effects of permanent growth would be resolved with even more growth. However, we, people of the XXI century, see that it is not reasonable faith.
Both the government and society must redefine the economic concept, getting rid of transnational corporations’ dictation, for they are interested in getting more and more profit. In addition, Roworth (2018), in her talk, exemplified many cities all over the world that already include some distributive and regenerative technologies. I think the government and society should endorse such attempts to reconsider achieving prosperity for all humanity.
Reference
Raworth, K. (2018). A healthy economy should be designed to thrive, not grow [Video]. YouTube. Web.