Humankind is in a box. For the 2.7 billion people now living on less than $2 a day, economic growth is essential to satisfying the most basic requirements of human dignity. And in much wealthier societies, people need growth to pay off their debts, support liberty, and maintain civil peace. To produce and sustain this growth, they must expend vast amounts of energy. Yet our best energy source -- fossil fuel -- is the main thing contributing to climate change, and climate change, if unchecked, will halt growth.
We can't live with growth, and we can't live without it. This contradiction is humankind's biggest challenge this century, but as long as conventional wisdom holds that growth can continue forever, it's a challenge we can't possibly address.
ECONOMIES CAN'T JUST KEEP ON GROWING