I’ve received an e-mail from someone who questions the premise that economic growth is always beneficial. The relevant text of the e-mail is reproduced below. My response follows.

I have thinking a lot about the whole premise of our economy being based on GROWTH. I am thinking more and more that we have to get away from the idea that we have to always be getting and spending more. One of the keys to happiness is to be satisfied with what you have …..not always wanting MORE. There is something wrong with the economy being so dependent on consumer SPENDING. It would be an improvement if we were more like the Mormons or the Chinese ….elevating saving and investment over SPENDING. There is an economic problem here which is related to our spiritual problems. I do not think that socialism is the answer…..and I think it can be facile to just say that Distributism is the answer ……but …..there must be a better way.

My response:

I couldn’t agree more and, at the risk of blowing my own trumpet, dare I refer you to my book, Small is Still Beautiful, in which there are two chapters on “malignant growth” in the economy? I would also recommend Schumacher’s Small is Beautiful and Richard Douthwaite’s The Growth Illusion.