Reinventing Prosperity: Managing Economic Growth to Reduce Unemployment, Inequality, and Climate Change

In this well-argued book, Maxton (The End of Progress) secretary general of the international think tank Club of Rome, and Randers (Limits to Growth), a professor of climate strategy at the Norwegian Business School, tackle the one misconception they say most stands in the way of global action on climate change: the belief that economic growth is essential. The authors contend that the current economic order, which depends on ever-increasing growth, has exacerbated the disparities between the rich and poor and displaced workers in vulnerable industries. Aging populations, resource depletion, and climate change will further reduce standards of living and quality of life. Maxton and Randers argue that it is possible to “create jobs, boost average living standards, reduce inequalities—even without any economic growth at all” and still manage climate change. They outline 13 propositions, explaining complex issues in a style that is clear, logical, and succinct. They acknowledge that this unconventional and controversial approach will require significant government intervention, a shift in the way most people see the world, and the poor wresting control of democratic governance from the rich to change the current economic order. These seemingly insurmountable challenges limit the book’s usefulness as an action plan. (Sept.)