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On the value of economic growth

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  • Julie L Rose

Abstract

Must a society aim indefinitely for continued economic growth? Proponents of economic growth advance three central challenges to the idea that a society, having attained high levels of income and wealth, may justly cease to pursue further economic growth: if environmentally sustainable and the gains fairly distributed, first, continued economic growth could make everyone within a society and globally, and especially the worst off, progressively better off; second, the pursuit of economic growth spurs ongoing innovation, which enhances people’s opportunities and protects a society against future risks; and third, continued economic growth fosters attitudes of openness, tolerance, and generosity, which are essential to the functioning of a liberal democratic society. This article grants these challenges’ normative foundations, to show that, even if one accepts their underlying premises as requirements of justice, a society may still justly cease to aim for economic growth, so long as it continues to aim for and realize gains on other dimensions. I argue that, while continued economic growth might instrumentally serve valuable ends, it is not necessary for their realization, as a society can achieve these ends through other means.

Suggested Citation

  • Julie L Rose, 2020. "On the value of economic growth," Politics, Philosophy & Economics, , vol. 19(2), pages 128-153, May.
    • Handle: RePEc:sae:pophec:v:19:y:2020:i:2:p:128-153
    DOI: 10.1177/1470594X19889123
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    References listed on IDEAS

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