When orthodox economists first encounter the idea of degrowth, they often jump to the conclusion that the objective is to reduce GDP. And because they see GDP as equivalent to social wealth, this makes them very upset. Nothing could be further from the truth. I reject the fetishization of GDP as an objective in the existing economy, so it would make little sense for me to focus on GDP as the objective of a degrowth economy. Wanting to cut GDP is as senseless as wanting to grow it. The objective, rather, is to scale down the material throughput of the economy. From an ecological standpoint, that’s what matters. And indeed some orthodox economists might even agree. Where we differ is that while they persist in believing ( against the evidence ) that this can be done while continuing to grow GDP, I acknowledge that it is likely to result […]