The Implications of a Steady State Economy And The Challenges it Presents

This article describes the ecological constraints on economic growth. These limits to growth are described well, and they will place limits on growth that are difficult to deny. It then moves to the problem of a steady state economy that has been advocated by several economists who advocate for sustainability. They argue that a steady state economy is achievable by making some modest changes in our economic system. The argument is then made that a steady state economy is not possible under our current system of capitalism. It is argued that capitalism cannot exist in its present forms without economic growth, and the accumulation of wealth as its motive force. To make this point, several examples are given of the required changes that would be required. These would not be easy changes to make while preserving the system.

Lastly, the article outlines the kind of changes that would be required to implement a steady state economy. Most of us would not recognize this kind of society. It would not be easily achieved or desired by most of us who have become accustomed to a life style based upon consumerism. It would be tough sell, and it would have to forced upon most people by necessity rather than by intent. Consequently, unless the ecological limits to growth are less stringent than they have been described in this article, the outcome will not be pleasant. The powerful few will find ways to maintain their advantages at the expense of the less powerful.