Economic Growth: Our Constant Friend?
In an engaging session led by Mr. Emmerich, Head of Economics, Year 11 Colloquium students explored the concept of economic growth, its historical emergence, and its sustainability. The discussion began with an overview of economic growth, defined as an increase in GDP per capita, which translates to higher living standards through more goods and services available to the population.
Mr. Emmerich illustrated the dramatic shift brought about by the Industrial Revolution, marking the onset of significant economic growth primarily in Western societies. This period was highlighted as a turning point where human progress moved from fluctuating living standards to sustained growth, driven by technological advancements and increased production capabilities.
The talk then pivoted to the environmental impacts of this growth, particularly the rise in CO2 emissions and resource consumption. Mr. Emmerich presented views from both pro-growth and de-growth advocates, sparking a debate among students about the feasibility of continuing on a path of unlimited economic expansion in a world with finite resources.
The session closed with a vibrant discussion on whether technological innovations could reconcile economic growth with environmental sustainability, or if a shift towards de-growth is necessary to preserve our planet.
