In a recent opinion piece by Art Woolf, a Vermont economist, the benefits of growth are highlighted. Contrary to the belief that increasing GDP has not improved quality of life over the past 40 years, Woolf argues that economic growth has actually had positive impacts worldwide. He points out that major sources of air pollution have declined since 1990, and greenhouse gas emissions have decreased in Europe and the U.S. Additionally, global economic growth has lifted millions out of poverty, leading to a decrease in infant mortality rates and an increase in life expectancy.
Woolf challenges the idea of “degrowth” and argues that a growing economy has brought about improvements in healthcare, technology, and overall quality of life. He questions how these benefits could be achieved without economic growth and highlights the importance of continuing to build houses and infrastructure to support societal needs.
Ultimately, Woolf argues that economic growth has led to advancements in standards of living, healthcare, and technology. He emphasizes that a degrowth approach may not be beneficial for those in poverty-stricken areas and urges advocates to consider the long-term consequences of halting economic growth. The opinion piece challenges readers to consider the impact of growth on their own lives and the lives of future generations.
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