David McWilliams: Degrowth is supposed to save the world, but it’s not that simple via IrishTimesOpEd
Degrowth is supposed to save the world and it is clear the world needs saving. As usual the incidence of who pays and who is affected are not split evenly between rich and poor. Developing countries suffer most. A recent study found that the wealth destruction from climate losses in 58 climate-vulnerable countries over the past 20 years amounted to nearlyThey are being devastated by climate-related disasters, yet the paradox is they need energy to achieve higher living standards.
In addition, there is the small problem that wind and solar require financing and financing requires economic prosperity that itself is energy-intensive. Meanwhile, climate policy is theamong the poor and only 14 per cent of people in sub-Saharan Africa have access to clean fuels and technologies. So you can see the problem. Poor countries want to get rich and, as of now, getting rich requires energy. This dilemma haunts the western degrowth movement. The brilliant Serbian economist, Branko Milanovic, one of the most influential thinkers on global inequality, asks us to doon growth and degrowth. Without changing the income distribution, global degrowth condemns all those living in poverty to remain there. Obviously, this is not a viable option.
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