Peter Victor, an ecological economist who teaches at York University’s Faculty of Environmental Studies, rejects the idea that economic growth is essential to progress, wrote BC’s Grand Forks Gazette May 19 in an article about replacing the growth economy with a more sustainable model:
To prove his point he created a computer model that duplicated the modern Canadian economy. He then adjusted it so that three crucial elements – consumption, productivity, and population – gradually stopped growing after 2010. He shortened the workweek to four days, imposed higher taxes on the rich, provided more public services for the poor and imposed a carbon tax to provide government revenue. His model showed that within a couple decades things had changed.
The outcomes of Victor’s model were lower unemployment, a rise in standards of living and lower greenhouse gas emissions. The economy reached a steady state after a couple decades.
The complete article is available on the Grand Forks Gazette's Web site.
Posted by Elizabeth Monier-Williams, research communications officer, with files courtesy of YFile– York University’s daily e-bulletin.