slowing down unnecessary extraction and production may mean that GDP grows more slowly, or stops growing, or even declines. And if so, that’s OK. Under normal circumstances, this might trigger a recession. But a recession is what happens when a growth-dependent economy stops growing. It is chaotic and disastrous. What I’m calling for here is something completely different. It is about shifting to a different kind of economy altogether – an economy that doesn’t need growth in the first place. To get there, we need to rethink everything from the debt system to the banking system, to liberate
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