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On Point | Podcast

An economist's vision of economic growth -- with less destruction

On Point | Podcast

WBUR

Talk Show, Daily News, News, Npr, On Point, Daily

4.23.5K Ratings

🗓️ 6 September 2024

⏱️ 49 minutes

🧾️ Download transcript

Summary

The world’s focus on growth - also known as GDP - has led to higher living standards, longer life and more jobs. But it has also destroyed the climate and created mass inequality.

Economist Daniel Susskind argues that what we need isn’t less growth, but less destructive growth. Is that possible?

Transcript

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0:00.0

Support for this podcast comes from the Atlantic Festival.

0:03.4

On September 19th and 20th in Washington, D.C.

0:07.0

Connect with other curious people to think deeply about issues that matter.

0:11.8

Here from Katanji Brown Jackson, Pete Budajajed, Anna Devir Smith, and more.

0:17.6

Tickets are available at the Atlantic Festival.com.

0:21.2

Today I'd like to talk with you about a subject that I know is on everybody's mind and that's the state of our economy

0:28.4

Yesterday we received a report on our gross domestic product. That's a measure of our overall economic performance.

0:35.0

So we're at 3.3% GDP.

0:38.0

I see no reason why we don't go to 4, 5, and even 6%.

0:42.0

GDP numbers that are released today... we don't go to four or five and even six percent.

0:43.0

GDP numbers that are released today indicate that the U.S. economy continues to turn in a fine performance.

0:49.0

In the second quarter, real GDP increased at an annual rate of 3.7% and we need in the world economy a

0:56.8

growth strategy. Now France clearly is one of the leading economy and if you take job creation growth we are one or second in

1:07.8

the erosome. We need a growth-oriented sound fiscal policy.

1:15.0

Once the pie stops growing, our system gets very polarized and I don't think it actually

1:20.0

works that well unless you have growth.

1:22.0

From now on, it's got to be... works that well unless you have growth.

1:22.7

From now on, it's got to be full speed ahead.

1:28.8

Growth, specifically economic growth.

1:33.0

Even more specifically, growth of the gross domestic product.

1:38.1

American political and business leaders, international heads of state, the media worldwide, all obsessed with growth.

1:48.6

A forever rising GDP has become the sacrosanct measure of a nation's well-being and of its power.

...

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