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“More than 90% of the money that’s presently circulating in our economy is created in this manner. In other words, almost every single dollar that passes through our hands represents somebody’s debt. And this debt has to be paid back with interest – with more work, more extraction and more production. This is extraordinary, when you think about it. It means that banks effectively sell a product (money) that they produce out of nothing, for free, and then require people to go out into the real world and extract and produce real value to pay for it. It is so outlandish as to offend common sense.”
― Less is More: How Degrowth Will Save the World
― Less is More: How Degrowth Will Save the World
“The weight of evidence is clear that we do not need more growth in order to achieve our social goals. And yet growthist narratives nonetheless have remarkable staying power. Why? Because growth serves the interests of the richest and most powerful factions in our society.”
― Less is More: How Degrowth Will Save the World
― Less is More: How Degrowth Will Save the World
“The thing about growth is that it sounds so good. It’s a powerful metaphor that’s rooted deeply in our understanding of natural processes: children grow, crops grow … and so too the economy should grow. But this framing plays on a false analogy. The natural process of growth is always finite. We want our children to grow, but not to the point of becoming 9 feet tall, and we certainly don’t want them to grow on an endless exponential curve; rather, we want them to grow to a point of maturity, and then to maintain a healthy balance. We want our crops to grow, but only until they are ripe, at which point we harvest them and plant afresh. This is how growth works in the living world. It levels off.”
― Less is More: How Degrowth Will Save the World
― Less is More: How Degrowth Will Save the World
“Inequality makes people feel that the material goods they have are inadequate. We constantly want more, not because we need it but because we want to keep up with the Joneses. The more our friends and neighbours have, the more we feel that we need to match them just to feel like we’re doing OK. The data on this is clear: people who live in highly unequal societies are more likely to shop for luxury brands than people who live in more equal societies.21 We keep buying more stuff in order to feel better about ourselves, but it never works because the benchmark against which we measure the good life is pushed perpetually out of reach by the rich (and, these days, by social media influencers). We find ourselves spinning in place on an exhausting treadmill of needless over-consumption.”
― Less is More: How Degrowth Will Save the World
― Less is More: How Degrowth Will Save the World
“It wasn’t until nearly 400 years later [since capitalist privatizations at home in Britain, i.e. the Enclosures starting in 1500s] that life expectancies in Britain finally began to rise. […] It happened slightly later in the rest of Europe, while in the colonised world longevity didn’t begin to improve until the early 1900s [decolonization]. So if [capitalist economic] growth itself does not have an automatic relationship with life expectancy and human welfare, what could possibly explain this trend?
Historians today point out that it began with a startlingly simple intervention […]: [public] sanitation. In the middle of the 1800s, public health researchers had discovered that health outcomes could be improved by introducing simple sanitation measures, such as separating sewage from drinking water. All it required was a bit of public plumbing. But public plumbing requires public works, and public money. You have to appropriate private land for things like public water pumps and public baths. And you have to be able to dig on private property in order to connect tenements and factories to the system. This is where the problems began. For decades, progress towards the goal of public sanitation was opposed, not enabled, by the capitalist class. Libertarian-minded landowners refused to allow officials to use their property [note: the Enclosures required state violence to privatize land], and refused to pay the taxes required to get it done.
The resistance of these elites was broken only once commoners won the right to vote and workers organised into unions. Over the following decades these movements, which in Britain began with the Chartists and the Municipal Socialists, leveraged the state to intervene against the capitalist class. They fought for a new vision: that cities should be managed for the good of everyone, not just for the few. These movements delivered not only public sanitation systems but also, in the years that followed, public healthcare, vaccination coverage, public education, public housing, better wages and safer working conditions. According to research by the historian Simon Szreter, access to these public goods – which were, in a way, a new kind of commons – had a significant positive impact on human health, and spurred soaring life expectancy through the twentieth century.”
― Less Is More: How Degrowth Will Save the World
Historians today point out that it began with a startlingly simple intervention […]: [public] sanitation. In the middle of the 1800s, public health researchers had discovered that health outcomes could be improved by introducing simple sanitation measures, such as separating sewage from drinking water. All it required was a bit of public plumbing. But public plumbing requires public works, and public money. You have to appropriate private land for things like public water pumps and public baths. And you have to be able to dig on private property in order to connect tenements and factories to the system. This is where the problems began. For decades, progress towards the goal of public sanitation was opposed, not enabled, by the capitalist class. Libertarian-minded landowners refused to allow officials to use their property [note: the Enclosures required state violence to privatize land], and refused to pay the taxes required to get it done.
The resistance of these elites was broken only once commoners won the right to vote and workers organised into unions. Over the following decades these movements, which in Britain began with the Chartists and the Municipal Socialists, leveraged the state to intervene against the capitalist class. They fought for a new vision: that cities should be managed for the good of everyone, not just for the few. These movements delivered not only public sanitation systems but also, in the years that followed, public healthcare, vaccination coverage, public education, public housing, better wages and safer working conditions. According to research by the historian Simon Szreter, access to these public goods – which were, in a way, a new kind of commons – had a significant positive impact on human health, and spurred soaring life expectancy through the twentieth century.”
― Less Is More: How Degrowth Will Save the World
Birgit’s 2024 Year in Books
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