Richard Heinberg’s latest book, The End of Growth: Adapting to Our New Economic Reality, argues for a new economic paradigm. He presents a clear, thorough, and convincing argument that our faith in unrelenting growth and unfettered capitalism has led to the demise of our global economic system. The book is well-cited throughout, encouraging curious readers to dig deeper into the source material that helped shape Heinberg’s case. (He acknowledges in particular our own Capital Institute Founder, John Fullerton, who provided background for the book from his perspective as a former managing director at JP Morgan on how Wall Street has evolved over the past quarter century.)
It is unfortunate that Heinberg’s terms seem harsh, but as a young person who is already concerned with limits to growth, he clarifies that the time is now for an era of qualitative development rather than quantitative growth. The End of Growth appropriately invokes fear and a sense of irreversible urgency but it is all in the cause of productive change towards a more buoyant and adaptable economy.