Rethinking Growth: Towards a Well-Being Economy

Gaya Herrington emphasizes that shifting from growth to a well-being economy is crucial for sustainable human and ecological health.

### Rethinking Prosperity: Embracing a Well-Being Economy
* 🌍 The concept of "**enough**" is crucial as we face persistent global issues like **poverty and pollution**, despite advancements in technology and knowledge.
* 📉 Our current economic system prioritizes **growth over well-being**, which has led to **stagnation in rich countries** and an **ever-increasing ecological footprint**.
* 📚 The 1972 book "The Limits to Growth" warned that **relentless pursuit of growth** could lead to **societal breakdown**, a reality we are now **approaching**.
* 🔄 A shift from a **growth-centric economy** to a **well-being economy**, focused on meeting **human and ecological needs**, is essential to avoid this breakdown.
* 💡 Countries with low material footprints can still pursue green growth, while wealthier nations must focus on **reducing their ecological impact** and **sharing resources equitably**.
* 🤝 Transitioning to a post-growth society means redefining prosperity, emphasizing **connection and community** over **endless consumption**, while still enjoying a **good quality of life**.
* 🔧 Individuals can contribute to this transformation by adopting **regenerative practices** in their personal and professional lives, fostering a narrative of **interdependence and collaboration**.
* 🌱 Ultimately, achieving a well-being economy is not just feasible but **essential for a sustainable future**, where we find fulfillment in **community and shared prosperity**.

Will the End of Economic Growth Come by Design — or Disaster? | Gaya Herrington | TED

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The word "enough" is crucial in addressing persistent global issues like poverty and pollution, despite our knowledge and innovation.

The current economic system prioritizes growth over solving these problems, leading to environmental degradation and stagnating well-being in rich countries.

The MIT scientists' 1972 model, "The Limits to Growth," warned of societal breakdown due to unchecked growth, and their projections align with current trends, suggesting that a shift in focus is necessary to meet human needs and protect nature.

Raw materials consumption and environmental issues are worsening, with carbon emissions showing insufficient absolute decoupling from economic growth.

The concept of "enough" is proposed as a guiding principle for the 21st century, advocating for a shift from endless growth to shared well-being within planetary boundaries.

A well-being economy is envisioned, where business, government, and citizens focus on meeting physical, social, and spiritual needs, with a selective approach to growth based on its contribution to well-being.

A shift towards a post-growth society aims to redefine value and productivity, promoting social and environmental benefits.

This transformation can lead to less income and wealth inequality, improved social cohesion, and reduced wasteful consumption.

Various cities and companies are already piloting post-growth frameworks and practices, demonstrating the feasibility of this economic transformation.

Replacing dying bee colonies with robot pollinators is less effective than advancing regenerative agriculture and redesigning the economy to protect existing forests.

A well-being economy offers less material possession but more connection, community, and purpose, aligning with our intrinsic desire to care for others.

This economic transformation is not a sacrifice but a letting go of what no longer serves us, leading to physical sufficiency, social abundance, and spiritual wealth.

The Role of Technology and Interdependence in System Change

The narrative of interdependence emphasizes our connection to nature and the importance of meeting our needs to contribute to the web of life.

Building a new narrative in system structures involves exploring regenerative business models, well-being government policies, and employee ownership, depending on one's role.

Collaboration and disjointed efforts are key to driving system change, with a critical minority mass of around 25% needed to create a self-reinforcing transformation.