"In a work obviously targeted, like Shaikh’s, at graduate students in economics, the authors approach their objective via a critique of orthodox growth theory and two types of growth models. One, the post-Keynesian Harrod-Domar model, is described as a knife-edge model, as any deviation from a balanced growth path sets off an inexorable process of either inflationary expansion (if investment is above the ‘warranted rate’) or deflationary contraction (if below) – unless states intervene to stabilize the system. The ‘neoclassical’ Solow model, constructed in response to the unrealistic instability of the post-Keynesian model, depended on the ludicrously unrealistic assumptions of perfect competition. It was later combined with the problematic concept of ‘total factor productivity’, and suffered from the notorious ‘aggregation problem’ of measuring the total stock of capital.

After concisely explaining the deficiencies of both models, the authors turn to classical political economy, including Marx, for an alternative. In summary, they counterpose Shaikh’s concept of ‘real competition’ to both neoclassical perfect competition theory and theories of monopoly capital. They explain how aggregation problems can be overcome using a labour theory of value, with estimates of socially-necessary labor-time for the elements of constant capital."

https://marxandphilosophy.org.uk/reviews/22045_economic-growth-and-long-cycles-a-classical-political-economy-approach-by-nikolaos-chatzarakis-persefoni-tsaliki-and-lefteris-tsoulfides-reviewed-by-peter-green/

ICYMI: CBN Deputy Governor Advocates for Enhanced Financial Inclusion https://www.rainsmediaradio.com/2025/03/cbn-deputy-governor-advocates-for.html?utm_source=dlvr.it&utm_medium=mastodon Follow, Like & Share #FinancialInclusion #WomenInBanking #CBN #EconomicGrowth #GenderEquality

"Minister for Economic Growth Nicola Willis wants to axe one third of 71 rules which include paying the Living Wage in contracts for cleaning, catering and security guard services."

https://www.rnz.co.nz/news/national/544637/cleaner-hits-out-at-willis-plan-to-scrap-living-wage-for-new-contracts

This tells you exactly what the NatACTs mean by "economic growth"; taking money from the pockets of workers - even during a cost of living crisis - and moving that money into the pockets of business owners. Then pretending they "created" it.

A few months back I asked what other everyday word could be used to create an answer to 'economic growth'. Today I was thinking about regenerative economics. Which sounds great but wonky.

But what about economic health?

The patriarchal culture really does not care if men are unhappy.

bell hooks, The Will to Change

The #Degrowth Database

"Welcome to the #DegrowthDatabase! We've put together something special for everyone interested in the degrowth movement: our very own Degrowth Database. It's a cosy corner of the internet where you can find a bunch of resources all about living more #sustainably and valuing #WellBeing over #EconomicGrowth.

In this #Digital library, you can find

- Details of 300 groups worldwide doing incredible work in the degrowth & post-growth space.
- 1500 academic papers and a tool that can filter by topic, language (we’ve got 18!), and publication type.
- A media section with over 70 pieces of content, including documentaries, blogs, and playlists (podcasts, lectures, talks, music), to start the conversation and spread ideas in global languages
- 550 books discussing degrowth in nearly 30 languages.
- 100+ news articles from some of the world's most well-known news publishers.
- For those looking to learn even more, there are almost 50 educational programs listed, from master's degrees to workshops.

To connect with others or continue the dialogue, we have also highlighted the communication channels of various degrowth communities.

And as it wouldn't be a community without coming together, we've included details on over 30 conferences and 4 international assemblies where folks share, debate, and dream up the future of degrowth.

This database is constantly growing and improving with contributions from people like you. Whether you’re here to explore, find ways to get involved, or add your own discoveries to the mix, we’re glad you stopped by. Dive in, see what you find, and maybe get inspired to join the conversation.

Let’s make this journey together!"

https://degrowth.net/resources/the-degrowth-database/
#SolarPunkSunday #sustainability

Sums it up pretty neatly, I think

#Inequality #Poverty #Economics #EconomicGrowth: "The empirical work conducted over the past twenty years has failed to uncover a positive relationship between inequality and growth. The data were not sufficiently good, especially regarding inequality where the typical measure used was the Gini coefficient which is too aggregate and inert to capture changes in the distribution; also the relationship itself may vary as a function of other variables, or the level of development. This has led economists to a cul-de-sac and discouragement – so much so that since the late 1990s and early 2000s such empirical literature has almost ceased to be produced. It is reviewed in more detail in Section 2 of this paper.

More recently, with much better data on income distribution, the argument that inequality and growth are negatively correlated has gained ground. In a joint paper Roy van der Weide and I show this using forty years of US micro data. With better data and somewhat more sophisticated thinking about inequality, the argument becomes much more nuanced: inequality may be good for future incomes of the rich (that is, they become even richer) but it may be bad for future incomes of the poor (that is, they fall further behind). In this dynamic framework, the growth rate itself is no longer something homogeneous as indeed it is not in real life. When we say that the American economy is growing at 3% per year, it simply means that the person with the average income is getting better off at that rate; it tells us nothing about how much better off, or worse off, others are getting."

https://blogs.lse.ac.uk/inequalities/2024/08/14/why-inequality-matters/

"When the World Economic Forum commented on the IMF report in 2015 it noted how findings showed the benefits of growth were “rarely spread evenly” and that “an unequal rise in incomes can actually slow the rate of economic growth altogether”. And yet we carry on pushing wealth upwards as if all our problems will be solved if we continue to make the rich richer."

#DrNealCurtis, 2024

https://newsroom.co.nz/2024/06/07/govt-thinking-inside-corporate-box/

‘When I first visited Sarawak in the 1970s, the Indigenous communities living there had virtually no money, but they lived well. Now they have money, and can barely feed themselves. They have been impoverished even as incomes rise. It is a story of brutal destitution that is completely obscured by the GDP growth statistics.’

Peter Metcalf, The poverty of ‘economic growth’
https://www.aljazeera.com/opinions/2021/6/10/the-poverty-of-economic

Let's be clear about it: this is almost certainly the last #GeneralElectionUK before the #ClimateChange tipping points we have ALREADY PASSED start to seriously degrade the quality of life for everyone in the world – INCLUDING Britain.

If we elect a government committed to #EconomicGrowth, by the next general election the options remaining to mitigate disaster will be very limited – and very stark.

If you vote for #Tories, #Labour, the #LibDems or #SNP, you are voting for the end of the world.

#EconomicGrowth doesn't benefit the average voter. It's largely captured by the ultra-rich. All it means to the average person is higher rents and higher prices.

What matters to those of us who are not ultra-rich is not how big the 'national cake' is, but how well it is shared.

Any politician who talks about 'growth' without also talking about redistribution, is not on your side.

Nature destruction will cause bigger economic slump in UK than 2008 crisis, experts warn https://www.theguardian.com/environment/2024/apr/25/nature-destruction-will-cause-bigger-economic-slump-in-uk-than-2008-crisis-experts-warn #Economicgrowth(GDP) #Financialcrisis #Financialsector #Climatefinance #Extremeweather #NaturalEngland #Climatecrisis #Waterindustry #Conservation #Biodiversity #Greeneconomy #Environment #Pollution #Economics #Business #Wildlife #UKnews #Water #Soil