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384 pages, Paperback
First published April 6, 2017
"In a period of great economic uncertainty," [Kenneth Rogoff] wrote in 2012, "it may seem inappropriate to question the growth imperative. But then again, perhaps a crisis is exactly the occasion to rethink the longer-term goals of global economic policy."
- as of 2015, the world's richest 1 percent now own more wealth than all the 99 percent put together
- two billion people (or 29 percent) live on less than $3 a day
- around 40 percent of the world's agricultural land is seriously degraded, and by 2025, two out of three people worldwide will live in water-stressed regions.
Here’s the conundrum: No country has ever ended human deprivation without a growing economy. And no country has ever ended ecological degradation with one.
Trickle-down economics may be a chimera but trickle-down behaviourism is very real.
Far from being a necessary phase in every nation's progress, rising inequality is a policy choice.
Markets are not mere mechanisms; they embody certain values. And sometimes, market values crowd out nonmarket norms worth caring about.