Growth audiobook cover - A History and a Reckoning

Growth

A History and a Reckoning

Daniel Susskind

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Growth
History of Economic Growth+
The Invention of GDP+
The Costs of Unchecked Growth+
Rethinking GDP & Degrowth+
Growing Ideas+
Tradeoffs and Incentives+

Quiz — Test Your Understanding

Question 1 of 7
According to later economic thinkers like Paul Romer, what is the unique driving force behind sustainable economic growth that escapes the trap of diminishing returns?
  • A. The continuous accumulation of physical capital and material resources
  • B. The generation and dissemination of ideas and human capital
  • C. The expansion of agricultural territories to feed growing populations
  • D. Strict government regulation and rationing of natural resources
Question 2 of 7
What was the original historical catalyst for the creation of the Gross Domestic Product (GDP) metric?
  • A. The need to measure the environmental costs of industrialization during the 1930s
  • B. The United Nations' desire for a universal standard to measure global poverty
  • C. The effort to track the success of the Marshall Plan in rebuilding Europe
  • D. The need to determine how much of the US economy could be dedicated to World War II without starving civilians
Question 3 of 7
How have globalization and modern growth-promoting technologies primarily affected the workforce in wealthier nations?
  • A. They have uniformly increased wages across all education levels
  • B. They have hollowed out mid-level jobs and stagnated wages for the middle class
  • C. They have eliminated the wealth gap between the top 0.01 percent and the rest of the population
  • D. They have caused a mass migration of workers back to agricultural sectors
Question 4 of 7
What does the author mean by adopting 'GDP Minimalism'?
  • A. Scaling back GDP's dominance by using a 'dashboard approach' that includes metrics for well-being and the environment
  • B. Completely abandoning GDP in favor of tracking only carbon emissions and ecological health
  • C. Artificially shrinking the GDP to force an economic recession and reset societal values
  • D. Restricting national economic growth to a flat rate of zero percent per year
Question 5 of 7
What is a major criticism the author levels against the 'degrowth' movement?
  • A. It relies too heavily on complex mathematical models that the general public cannot understand
  • B. It focuses exclusively on technological solutions to solve environmental problems
  • C. It overlooks the infinite potential of ideas and wrongly assumes growth relies solely on finite material resources
  • D. It encourages the rapid expansion of intellectual property laws to protect new inventions
Question 6 of 7
According to the author, how are current intellectual property (IP) laws impacting economic progress?
  • A. They are too weak, causing inventors to lose their ideas to large corporations
  • B. They are overly restrictive and often used by large companies to stifle competition and block innovation
  • C. They successfully encourage collaboration by mandating that all patents be shared publicly after one year
  • D. They focus too much on physical resources rather than digital and genetic innovations
Question 7 of 7
How does the author suggest society should address the tradeoff between technological advancement and job security?
  • A. By implementing a universal basic income to replace the need for human labor entirely
  • B. By banning the development of artificial intelligence in corporate environments
  • C. By accepting that widespread job losses are an unavoidable cost of necessary economic expansion
  • D. By using taxes and subsidies to incentivize technologies that augment human workers rather than replace them

Growth — Full Chapter Overview

Growth Summary & Overview

Growth (2024) challenges the long-held belief that economic growth is the ultimate goal for society. It also puts forth a new philosophy that prioritizes environmental sustainability, social equity, and future generations over relentless growth – inviting us to rethink the very foundations of our economy.

Who Should Listen to Growth?

  • Anyone concerned about the future
  • Economists and policymakers
  • Environmentalists and social justice advocates

About the Author: Daniel Susskind

Daniel Susskind is an economist and author, known for his writing on the future of work, technology, and economic growth. He is a fellow in economics at Balliol College, Oxford, where his research focuses on the intersection of technology, society, and public policy. His other books include A World Without Work and The Future of the Professions.

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