C20 x UvA: Debate on  Maximizing growth vs. Degrowth

The Case for Maximizing Economic Growth
‍Proponents of continuous economic growth argue that it is the engine of progress. Rooted in classical economic theories from thinkers like Adam Smith and modernized by Keynesian economics, this perspective holds that increasing Gross Domestic Product (GDP) leads to improved living standards, technological innovation, and poverty reduction. Economists such as Milton Friedman have emphasized the role of free markets and growth in promoting individual freedom and prosperity. Advocates highlight success stories where economic expansion has lifted millions out of poverty, particularly in emerging economies.
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The Argument for De-growth and Sustainable Development
‍On the other side, the de-growth movement challenges the sustainability and desirability of perpetual growth on a finite planet. Influenced by ecological economists like Herman Daly and contemporary scholars such as Kate Raworth, author of Doughnut Economics, this viewpoint stresses the importance of recognizing and internalizing environmental and social externalities. De-growth advocates call for a shift towards a circular economy, prioritizing well-being, equity, and ecological balance over mere economic indicators. They warn that unchecked growth contributes to climate change, resource depletion, and widening social inequalities.
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