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In the 20th century, the definition of progress seemed clear. It was growth, measured in terms of national income, or gross domestic product (GDP). And that growth was to be endless, an ever-rising curve. No matter how rich a nation already was, its politicians and economists would consistently claim that the solutions to its problems – from poverty to pollution – depended on yet more growth.
But this promise has not been delivered on. It is clearly time to reimagine the shape of progress and, with it, the policies that could bring about prosperity for a fractured humanity on a destabilised planet.
This is an edited extract from a foreword to The Poverty of Growth by Olivier De Schutter (Pluto). Kate Raworth is the author of Doughnut Economics: Seven Ways to Think Like a 21st-Century Economist (Random House Business).