Degrowth

Degrowth or post-growth economics is an academic and social movement critical of the concept of growth in gross domestic product as a measure of human and economic development. Degrowth theory is based on ideas and research from a multitude of disciplines such as economics, economic anthropology, ecological economics, environmental sciences and development studies. It argues that the unitary focus of modern capitalism on growth, in terms of monetary value of aggregate goods and services, causes widespread ecological damage and is not necessary for the further increase of human living standards. Degrowth theory has been met with both academic acclaim and considerable criticism.

Degrowth theory's main argument is that an infinite expansion of the economy is fundamentally contradictory to the finiteness of material resources on Earth. Degrowth theory argues that economic growth measured by GDP should be abandoned as a policy objective. Policy should instead focus on economic and social metrics such as life expectancy, health, education, housing, and ecologically sustainable work as indicators of both eco-systems and human well-being. Degrowth theorists posit that this may increase human living standards and ecological preservation, even while GDP slows down or decreases.

Degrowth theory is highly critical of free market capitalism, and it highlights the importance of extensive public services, care work, self-organization, commons, relational goods, community, and work sharing.