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Over the past two centuries, economic growth has freed billions from poverty and made our lives far healthier and longer. As a result, the unfettered pursuit of growth defines economic life around the world. Yet this prosperity has come at an enormous price: deepening inequalities, destabilizing technologies, environmental destruction and climate change.
Confusion reigns. For many, in our era of anaemic economic progress, the worry is slowing growth – in the UK, Europe, China and elsewhere. Others understandably claim, given its costs, that the only way forward is through 'degrowth', deliberating shrinking our economies.
At this time of uncertainty about growth and its value, award-winning economist Daniel Susskind has written an essential reckoning. In a sweeping analysis full of historical insight, he argues that we cannot abandon growth but shows instead how we must redirect it, making it better reflect what we truly value. He explores what really drives growth, and offers original ideas for combatting our economic slowdown.
Lucid, thought-provoking and brilliantly researched, Growth: A Reckoning is a vital guide to one of our greatest preoccupations.
Daniel Susskind is a Research Professor in Economics at King's College London and a senior research associate at the Institute for Ethics in AI at Oxford University. He is the author of A World without Work and co-author of the bestselling The Future of the Professions. Previously, he worked in the British government, as a policy adviser in the Prime Minister's Strategy Unit, the Cabinet Office, and at 10 Downing Street.
"Daniel Susskind is a compelling, insightful thinker on the largest and most fundamental economic topics. At a time when traditional notions of growth are increasingly being questioned, this book is profoundly important. Agree or disagree, anyone who wants to engage with the broad direction of economic policy needs to reckon with Susskind's views"
– Larry Summers
"What type of economic growth we should pursue, how much of it, and for whose benefit will be crucial questions in the years to come, especially if current trends – more and more inequality, and an increasing concentration of power among the select few companies shaping the future of technology-continue. This well-written, thought-provoking book is essential reading for anybody interested in these epochal debates."
– Daron Acemoglu, author of Why Nations Fail
"For two centuries, economic growth has meant longer lives, better health, and material comfort. But has growth now come to an end? What can be done to restart the engine? Or should we halt growth deliberately, given its environmental costs? This panoramic book addresses the most fundamental economic questions from a deeply ethical perspective"
– Diane Coyle, Bennet Professor of Public Policy at Cambridge University and author of GDP: A Brief But Affectionate History
"Growth – the lack of it, the search for it, the barriers to it – is the challenge at the core of most political debates and with which all politicians struggle. Susskind's study is a tour de force."
– Gordon Brown
"Daniel Susskind writes with verve, style and conviction about one of the most important issues of our age"
– Rory Stewart
