The world is in crisis, socially, ecologically, and economically.
Billions around the world live in some form of poverty and inequality has reached unprecedented levels. The world has also transgressed six of the nine planetary boundaries that researchers say mark the safe space for humanity. In 2023, fossil fuel consumption reached an all-time high. As a result, it’s becoming more likely that the world will pass more than 2°C of warming by the end of the century.
The endless pursuit of economic growth will not fix this. It will make the situation worse. New growth makes the world less equal because its benefits are disproportionately captured by the already rich, with just 2% of new wealth flowing to the poorest half of the population. Growth also further threatens the environment, and a recent poll of climate scientists found that many are now sceptical that sustainability goals and further growth are compatible.
