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Managing without Growth, Second Edition

Slower by Design, not Disaster

Peter A. Victor

Ten years after the publication of the first edition of this influential book, the evidence is even stronger that human economies are overwhelming the regenerative capacity of the planet. This book explains why long-term economic growth is infeasible, and why, especially in advanced economies, it is also undesirable. Simulations based on real data show that managing without growth is a better alternative
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Chapter 11: Managing without growth: exploring possibilities

Tim Jackson


To assess options for managing without growth, LowGrow SFC is used to generate three scenarios: a base case which projects recent trends and relationships, a GHG reduction case with several measures to reduce GHG emissions, and a sustainable prosperity case with additional measures to reduce income inequality and reduce working time. In the sustainable prosperity scenario, economic growth slows and then ceases over the period 2017 to 2067. LowGrow SFC is a system dynamics model broadly representative of the Canadian economy. It includes a sub-model of the electric power system and is stock-flow consistent. The performance of the model is tracked by several indicators including a synthetic sustainable prosperity index which declines precipitously in the base case, declines modestly in the GHG reduction scenario, and increases steadily in the sustainable prosperity scenario. The chapter concludes with an assessment of whether the scenarios are compatible with capitalism.

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