Economics of Arrival: Ideas for a Grown-Up Economy

Economic growth has brought unparalleled prosperity, but it has also brought unrivalled prosperity, debt, inequality, climate change, and fractured politics. Trebeck and Williams argue that the challenge is now to make ourselves at home with this wealth and ensure that everyone is included. They explore the possibility of 'Arrival' and the benefits this would bring for all.

Format: Paperback / softback
Length: 224 pages
Publication date: 15 January 2019
Publisher: Bristol University Press

Economic growth is a crucial aspect of modern society, as it provides the means for individuals and communities to improve their standard of living. However, the pursuit of economic growth has also led to various challenges, including inequality, climate change, and fractured politics. In this essay, we will explore the concept of economic growth and its implications for society.

One of the primary goals of economic growth is to increase the overall wealth of a country. This can be achieved through various means, such as increasing productivity, investing in infrastructure, and promoting innovation. However, the pursuit of economic growth can also lead to negative consequences, such as environmental degradation, social inequality, and political instability.

One of the most significant challenges facing economic growth is inequality. While economic growth has led to a significant reduction in poverty worldwide, there are still many people who are living in extreme poverty. This is often due to a lack of access to education, healthcare, and other basic needs. Economic growth can also exacerbate inequality by creating a system that rewards those who are already wealthy while leaving others behind.

Climate change is another major challenge facing economic growth. The burning of fossil fuels has led to a rise in global temperatures, which has caused a range of environmental problems, including sea level rise, droughts, and extreme weather events. Economic growth has also contributed to climate change by increasing the demand for energy and resources.

Fractured politics is another challenge facing economic growth. The rise of populism and nationalism has led to a decline in trust in government and a rise in political instability. This can make it difficult for governments to implement policies that promote economic growth and address social inequality.

In order to address these challenges, it is important to move from enlarging the economy to improving it. This can be achieved through a range of policies, such as investing in education, healthcare, and infrastructure, promoting innovation, and reducing inequality.

Investing in education is one of the most important ways to improve economic growth. Education provides individuals with the skills and knowledge they need to succeed in the workforce, and it can also help to reduce inequality. However, many countries face significant challenges in providing education to their citizens, particularly in rural areas and low-income communities.

Investing in healthcare is also important for economic growth. Healthcare provides individuals with the ability to work and live healthy lives, and it can also help to reduce inequality. However, many countries face significant challenges in providing healthcare to their citizens, particularly in rural areas and low-income communities.

Promoting innovation is also important for economic growth. Innovation can lead to the development of new products and services that can improve the quality of life for individuals and communities. However, many countries face significant challenges in promoting innovation, particularly in low-income communities.

Reducing inequality is also important for economic growth. Inequality can lead to social unrest and political instability, and it can also limit the ability of individuals and communities to participate in the economy. There are a range of policies that can be used to reduce inequality, such as progressive taxation, social welfare programs, and labor market reforms.

In conclusion, economic growth is a crucial aspect of modern society, but it has also led to various challenges, including inequality, climate change, and fractured politics. In order to address these challenges, it is important to move from enlarging the economy to improving it. This can be achieved through a range of policies, such as investing in education, healthcare, and infrastructure, promoting innovation, and reducing inequality. By doing so, we can create a more prosperous and sustainable future for all.

Weight: 358g
Dimension: 140 x 216 x 21 (mm)
ISBN-13: 9781447337263