This Pioneering Economist Says Our Obsession With Growth Must End

Reviewer: Leslie Xiong

Guest editor from NMH School

September 13, 2022

News from: NYT   

This Pioneering Economist Says Our Obsession With Growth Must End
  

In any introductory textbook to economics, you may learn that growth is the fuel engine for a corporation (topline sales expansion) and an economy (GDP growth). In this essay, the author offers a different point by citing Herman Daly, a renowned economics professor and former officer at the World Bank, to reason that prioritizing growth may actually be detrimental to the economy. 


The NYT article is an in-depth interview of Mr. Daly investigating the logic behind his claim. In sum, Mr. Daly challenges the current measures of growth, indicating that there is an exaggeration of the growth benefits and a negligence of its costs. There is a distinction between development and growth, but people often mistake the two in practice. Development can translate into technological advancement, better productivity, or fundamental change, while growth can simply be a bigger size in GDP or a company’s revenue. 


As this NYT article may seem a little abstract to the general public, the author tries his best in structuring his questions so that the ideas are presented with a good flow. In addition, the author puts a short summary besides the body paragraphs, which helps guide the audience to better comprehend the content. This is a great tactic for students to use in active reading and a tool for our own essays.


Link:https://www.nytimes.com/interactive/2022/07/18/magazine/herman-daly-interview.html

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