Lecture 5: Alternatives for the future

Question 1

Three types of alternative indicators:

Answer 1

1. well-being
2. welfare
3. sustainability

Question 2

alternative indicator: well-being

Answer 2

Evaluate either a single person’s life situation or the life situation of a group of people. Multidimensional well-being

Question 3

alternative indicator: welfare

Answer 3

Contribution of a nation’s economy to the overall level of well-being enjoyed by its citizens. Economic well-being and Sustainable income

Question 4

alternative indicator: sustainability

Answer 4

Can the current levels of well-being and economic welfare can be sustained into the future?

Question 5

Different alternatives:

Answer 5

1. Green Growth
2. Degrowth

Question 6

different alternative: green growth

Answer 6

green growth means fostering economic growth and development while ensuring that natural assets continue to provide the resources and environmental services on which our well-being relies

• optimistic scenario
• only some redirections of the current economy
• still the same economic system
• circular economy

Question 7

policies green growth

Answer 7

• enhancing productivity by creating incentives for efficiency in using natural resources
• opening op new markets with demand for green goods
• focus on education and innovation
• boosting investor confidence through greater predictability in how governments deal with environmental issues

Question 8

Different alternatives: Degrowth

Answer 8

An umbrella term for more radical academic, political and social movements that emphasize the need to reduce production and consumption and define goals other than economic growth

• Critical of the current system and totally changing the goal of society.
• going beyond capitalism
• radical view
• prioritizing sustainability

Question 9

policies degrowth

Answer 9

Discriminating approach to reducing economic activity => scale down ecologically destructive and socially less necessary production

Prevent unemployment, and improve employment, shortening the working week, introducing a job guarantee with a living wage

focus on redistribution

expand universal public goods

–> totally change the system (drastically)

Question 10

problems with green growth

Answer 10

not fast enough in decoupling / carbon tunnel / rebound effect

Question 11

problems with degrowth

Answer 11

• How to change practices and behaviours so much?
• How to transform institutions?
• How to coordinate different countries around such transformations when already struggling with greening the existing system?
• What form of the economy? Eco socialism?