Less is More: How Degrowth Will Save the World

by Jason Hickel

In 1930, the British economist John Maynard Keynes wrote an essay titled ‘Economic Possibilities for Our Grandchildren’. He predicted that by the year 2030 technological innovation and improvements in labour productivity would free people to work only fifteen hours a week. Keynes turned out to be correct about productivity gains, but his prophecy about working hours never came true. Why not? Because gains in labour productivity have been appropriated by capital. Instead of shortening the working week and raising wages, companies have pocketed the extra profits and required employees to keep working just as much as before. In other words, productivity gains have been used not to liberate humans from work but rather to fuel constant growth.