Anyone who believes exponential growth can go on forever in a finite world is either a madman or an economist.

Kenneth E. Boulding
Economist and co-founder of General Systems Theory

So, this week’s big news is that we are finally “out of recession” - even if it is by the smallest of error-prone margins. But is it perhaps a timely reminder that whilst GDP growth may still be a valid measure of our economic well-being, it is by no means the only one, and there are many economists who question its continued relevance, and some are brave enough to point out the bleedin’ obvious - that continued growth is neither sustainable nor desirable.

I’d like to share with you the latest report from the New Economics Foundation (nef) which puts forward the case for a new macro economic model “that allows the human population as a whole to thrive without having to relying on ultimately impossible, endless increases in consumption.” Read the rest of this entry. .