The Collins Dictionary named "permacrisis" the word of the year in 2022. They defined it as “an extended period of instability and insecurity, especially one resulting from a series of catastrophic events."
We are clearly living in a state of permacrisis. This book, written by an ex-Prime Minister of the UK, the chief economic adviser at Allianz, and a guy who has been described as the richest self-made person in the City of London, provides some context and, dare I say it, hope. No, you won't hear these one-percenters using phrases like degrowth, but you will hear them being really clear that to move beyond our current crisis economic policy must include metrics such as health, education, housing, and ecological sustainability. Mimi Brooks wrote a good summary and review.
"...The only antidote to the current situation is an entirely new growth model – one which is a combination of moral injunctions and technical fixes, particularly in the life sciences, energy, and digital technology arenas. Yet while the inputs into growth, such as innovations and investments, make headlines, it is really the total sum of government and private sector actions, as well as conditions on the ground, that shape the growth picture determining economic fortunes.
"Going forward, shareholders and stakeholders are far more likely to demand sustainable growth-oriented investment. It is suggested that value will be measured differently, with social impact-weighted accounting taking precedence. In other words, the philosophy of ‘Profits over people’ has outstayed its welcome."
Book Review: Permacrisis Reviewed: A Blueprint for Global Economic Recovery
|
