Prosperity And Prosperity

The aim of economic growth is to deliver prosperities. However, in Sustainable Development Commission Report, Professor Tim Jackson argues that, continuous and infinite growth in a physically finite word is impossible and the pursuit of it comes with great environmental and social costs. He then proposed redefining prosperity and alternative routs to achieve prosperity for all without the conventional rout of continuous economic growth. Economic growth has delivered prosperities and the world population has unmistakably benefited from it. But it had delivered prosperities unequally. In the last few decades, inequality has become much higher in OECD nations. In the meanwhile, one fifth of the world live is earning just 2% of global income, while the rich are getting increasingly richer and middle class income has fallen flat. The global economy

Prosperity should not be just increasing material wealth, it should also be about giving and receiving love, enjoying life by doing meaningful work and enjoying the respecting of peers and having the connection to the community. For humans to flourish while reducing consumption won’t be an easy task, however it offers the best alternative prospect that we have for a lasting prosperity. Jackson also counter argued against the concept of decoupling. There are two types of decoupling; relative and absolute. Because capitalists economic are supposed to increase efficiency, as economy grows the impacts that economy make on the environment will decrease relative to GDP growth. The energy required to produced has declined by one third in the last decade. During the same time, energy use has increased by 40%. Relatively speaking global carbon intensity has fallen compare to the growth in GDP however, in absolute term resource impacts have increased