Need Growth or De-Growth? Myopia or Mirage?
Posted: 9 Nov 2012
Date Written: November 8, 2012
After running several years for growth, few economists are arguing De-growth is better for the world. They argue that natural resources are exhausting as they are consumed at higher rate than they are generated. We argue that growth is sine qua non to maintain reasonable living standard for the existing population. The present definition of growth is to be re-looked as is the partners of growth is to be re-looked. We also argue that growth should be made in the new area of production and services, by the people and for the people who were not substantially involved in the current process of growth.
This article discuss at length in four part after re-defining 'growth'. The first part discuss current area of growth and suggest area where the growth is most imminent, e.g. agriculture. The second part discusses who are the players who bring growth and suggests who should also be involved. We advocate that large part of the population is ignored who otherwise can add value to the growth. The third part discusses who are enjoying the fruits of growth and who are excluded to suggest equitable distribution of value. The concluding part brings discussion to suggests framework at macro level by bringing conducive policies to align above hypotheses. It also suggests industry wise or area wise policies that can be operational for the inclusive and sustainable growth.
Keywords: inclusive growth, sustainable growth, equitable growth
JEL Classification: D9, E4, N1
Suggested Citation: Suggested Citation