Leftist Economists Push European Degrowth With 10% Extreme-Poverty Focus
Updated
Updated · Noahpinion · Jun 13
Leftist Economists Push European Degrowth With 10% Extreme-Poverty Focus
1 articles · Updated · Noahpinion · Jun 13
Summary
Thomas Piketty, Joseph Stiglitz and other left-leaning economists backed a “beyond growth” agenda that calls for growth caps, lower material consumption and shorter working hours in rich countries, with Europe as its main practical target.
Their case is that growth no longer reliably reduces poverty and is ecologically unsustainable; a Guardian editorial says roughly one-tenth of the world still lives in extreme destitution and argues economies should prioritize rights and wellbeing within planetary limits.
The report says the program is centered on Europe because degrowth has gained little traction in the U.S., Canada, Australia, Asia or developing economies, while its leading advocates, conferences and policy interest are concentrated in Europe and the EU.
It also cites a 2024 review of 561 degrowth studies that found almost 90% were opinion pieces rather than analysis, with little data, modeling or evidence that the policies are socially or politically feasible.
The broader stakes are framed as strategic as well as economic: adopting degrowth now could weaken Europe’s living standards, industrial base and capacity to respond to pressure from Russia, China and trade shocks.