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We need a Plan B for growth

One overarching theme of last weekend’s Plan B for Europe conferences in Madrid, the pursuit of growth, shows a basic unawareness of how the economic system depends on the biosphere.

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open Movements
open Movements

The openMovements series invites leading social scientists to share their research results and perspectives on contemporary social struggles.

A soybean field in Argentina's fertile pampas region.
A soybean field in Argentina's fertile pampas region.

A soybean field in Argentina's fertile pampas region. Wikicommons/Alfonso. Some rights reserved.The pursuit of growth lies behind the first slogan of the conferences (“against austerity”). The motto refers to the unequal distribution of wealth and it would have been more appropriate to use that wording, since austerity is not only necessary, but in the times ahead of increasingly scarcer resources, it is also inevitable – naturally, a just austerity with distribution of wealth.  

During the conference we heard Costas Lapavitsas, a professor of economy and major figure of the Greek and European Left, saying that oil is no longer a problem for Europe because it is cheap. It is a matter for concern that a person of his standing did not flag up the vital importance oil has for the functioning of the economy and was unable to examine oil prices in a more comprehensive manner.