Graeme Maxton - Reinventing Prosperity: Managing Economic Growth to Reduce Unemployment, Inequality, and Climate Change

PRAISE FOR REINVENTING PROSPERITY

The world faces a number of monumental challenges, ranging from persistent inequality and the aging of the population to climate change and the rise of the robot. In this innovative, accessible, and persuasive book, Maxton and Randers show that we dont need revolutionary changes to meet these challenges. They tell us how big changes can beindeed, can only beachieved through a set of reforms that are moderate enough to be politically feasible in the short run. It is an essential guide to those who want to change the world for the betterand for certain.

HA-JOON CHANG, Faculty of Economics, University of Cambridge, author of 23 Things They Dont Tell You about Capitalism and Economics: The Users Guide

A fascinating, data-rich look at some of the most fundamental questions our species has ever facedand a striking argument for maturity over endless growth.

BILL MCKIBEN, author of Deep Economy

Do you want a cogent and accessible explanation of why our paramount policy goal of GDP growth is increasing unemployment, inequality, and environmental destructionwhile reducing welfare? Then read this informative book for both answers and better policies!

HERMAN DALY, emeritus professor, University of Maryland

The problems society faces to achieve a sustainable and desirable future are well known, but solutions seem impossible. Maxton and Randers describe thirteen politically feasible proposals that can actually solve these problems. A must-read for anyone who wants to create a better world.

PROF. ROBERT COSTANZA, VCs chair in public policy, Crawford School of Public Policy, Australian National University

This book has the power to induce policy changes that are imperative for the creation of an equitable, peaceful, and sustainable future for human society.

RAJENDRA K. PACHAURI, past-chair, Intergovernmental Panel on Climate Change (IPCC); executive vice chairman, The Energy and Resources Institute (TERI)

Reinventing Prosperity, appearing nearly forty-five years after The Limits to Growth, is another wake-up call of historic significance. It reinforces the important messages of Laudato Si, the UN Sustainable Development Goals, and the Paris Climate Agreement. I endorse these proposals for another economy that is both more fair and more sustainable.

RUUD LUBERS, co-founder of the Earth Charter

Maxton and Randers groundbreaking book gets us thirteen steps closer to the carbon-free economy by 2050.

MATHIS WACKERNAGEL, PhD, founder and CEO, Global Footprint Network

Maxton and Randers present a new path toward sustainability by focusing on a set of measures that should be more readily acceptable, because they provide short-term advantages to the majority of people. Reinventing Prosperity is a compelling book, full of new insights and iconoclastic ideas.

ROBERTO PECEI, vice chancellor for research emeritus, UCLA

Maxton and Randers bring a rare combination of insight, pragmatism, and a global perspective to the challenge of managing economies in the twenty-first century. Their thirteen policy proposals should be taken seriously by anyone who believes that thoughtful, informed, democratic change offers the best chance for a prosperous future.

PETER A. VICTOR, PhD, FRSC, author of Managing without Growth: Slower by Design, not Disaster

An important contribution to the global debate about growth, equality, climate change, and the path to a viable human future.

DAVID KORTEN, author of Change the Story, Change the Future: A Living Economy for a Living Earth and When Corporations Rule the World

A well-argued thesis. Reinventing Prosperity is a must-read primer for action.

SHEILA MURRAY, founding vice-principal, Canadian Centre for Management Development

Maxton and Randers make thirteen feasible proposals that, if implemented, would transform the future of humanity. This book is not just a must read; its solutions are a must do!

STEWART WALLIS, executive director, New Economics Foundation 200315

A bold analysis smashing the doctrines of mainstream economics. Built on the analysis, the authors offer thirteen proposals to reduce unemployment, inequality, and climate change. Wonderful!

ERNST VON WEIZSCKER, co-president of the Club of Rome

Leaving conventional economics behind, Reinventing Prosperity charts a careful course between the Scylla of economic collapse and the Charybdis of climate catastrophe. It is an urgent call to action!

PETER G. BROWN, Economics for the Anthropocene Project, McGill University

REINVENTING PROSPERITY

Foreword by David Suzuki

GRAEME MAXTON & JORGEN RANDERS

REINVENTING PROSPERITY

Managing Economic Growth to Reduce Unemployment, Inequality, and Climate Change

A Report to the Club of Rome

Copyright 2016 by Graeme Maxton and Jorgen Randers

Foreword copyright 2016 by David Suzuki

All rights reserved. No part of this book may be reproduced, stored in a

retrieval system or transmitted, in any form or by any means, without the

prior written consent of the publisher or a license from The Canadian

Copyright Licensing Agency (Access Copyright). For a copyright license,

visit www.accesscopyright.ca or call toll free to 1-800-893-5777.

Greystone Books Ltd.

www.greystonebooks.com

David Suzuki Institute

2192211 West 4th Avenue

Vancouver BC Canada V6K 4S2

Cataloguing data available from Library and Archives Canada

isbn 978-1-77164-251-4 (cloth)

isbn 978-1-77164-252-1 epub

Editing by Lesley Cameron

Copy editing by Shirarose Wilensky

Jacket and text design by Nayeli Jimenez

Cartoons by ystein Runde

We gratefully acknowledge the financial support of the British Columbia

Arts Council, the Province of British Columbia through the Book Publishing

Tax Credit, and the Government of Canada for our publishing activities.

CONTENTS

LIST OF BOXES

LIST OF GRAPHS

LIST OF TABLES

FOREWORD

I WAS INVOLVED in a battle over logging in a B.C. forest when I met the CEO of the company that had the license to log it. We had a heated argument until he finally yelled, Listen, Suzuki, are tree huggers like you willing to pay for those trees? Because if you are not, they dont have any value until someone cuts them down. I was dumbfounded, because to me it seemed crazy to let value be defined by the economy. But even more overwhelming was my realization that in the current globalized world, he was right.