“Degrowth” and Piketty
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Let’s face it, “degrowth” under capitalism is a bonkers idea. The driving force of the capitalist economy is growth in the form of capital accumulation out of profits. This can’t be stopped without upsetting the whole economy. Which is what any attempt to do would result in.
Since “growth” is measured as an increase in Gross Domestic Product (GDP) which itself is measured in terms of money, “degrowth” won’t make sense this as there won’t be a general unit of account such as money and so no GDP to aim at reducing.
This said, the production of some things will of course be decreased but that of others will be increased.
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