Wednesday, September 10, 2008

Economic growth need not require increased consumption

Excellent article in FT today by John Kay "Economic growth can be about better - not more"

He argues that as we get richer, we generally want quality not quantity, so economic growth does not necessarily increase the volume of "stuff" consumed.

Not sure I agree when our economy geared towards selling us equipment that cannot be repaired and breaks just in time for us to buy the new model! See toothbrush story below.

No comments: