GDP growth remains the main paradigm of the speakers of Business, Politics, and the discipline of Economics. The BPE Compact insists on the necessity of further growth, namely because of the "need to lift billions out of poverty" and to "create jobs".
"Poverty" defined in monetary income neglects the material well-being that is maintained by millions of people who are not integrated in the monetary GDP accounts. Those people may well lead a satisfactory lifestyle, largely self-sustaining with a very low impact on the environment.
The GDP accounts also "forget" the work done by women and children, often carrying the brunt of all work needed to sustain the family.
Both arguments are not valid because growth increases the depletion of recources.
Better lifestyles can be achieved by redistribution of national incomes, or by more equitable payment for a person's real work done.
Jobs depend on the international divison of labour. Globalisation factually means worldwide competition for the lowest socio-economic conditions. It means a race to the bottom of the lowest common denominator.
The growth ideology is defended in different ways. One is the "trickle-down" theory.
Factually, the integration in the market economy, liberalisation and increased trade have lead to unequitable growth, often increasing the income gaps dramatically.
The possibility to eliminate poverty by redistribution of incomes, for example by progressive taxation and socio-economic limitations, are successfully rejected by the People in Power, the very same BPE Compact. Their greed knows no limitations.
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