Writing for the BBC, Andrew Simms argues very well that the notion of unlimited economic growth on a finite planet simply doesn’t work and a new model is drastically needed – before it’s too late.
Are alternative measures of success available? Yes, many. But politicians and the business press remain uncritically spellbound by the equation “all GDP growth is good”.
Here is an irony: the hard science of climate change is subjected continually to the most extraordinary degree of critical scrutiny in the media.
Given their actual number, informed sceptics are given disproportionate airtime and column inches.
But where the “dismal science” of economics is concerned, the daily reporting of its central tenet – growth is good – passes unchallenged.
The much vaunted journalistic balance is abandoned. Why? Perhaps it is because this type of economics is not science at all, but doctrine. To question doctrine makes you a heretic, and heretics get excommunicated.