New Scientist article on economic growth

I spoke to an economist at the conference last week and asked him about steady state economies. He (and he is an economist who works in the same environmental science institution as me so I found this pretty depressing) dismissed the idea - positing the idea that we can grow the economy through the knowledge sector.

I"m not so sure and even less sure now, given the New Scientist (18th Oct. 2008) article I've just read called 'Beyond Growth'. In the end the basis of our economy is consumption and actually from the point of view of the sustainability of our society in a world that has shown time and again that it has limits, consumption is something we have to cut.

I suppose from a positive point of view the economic crisis that looms might offer some ways for us to look hard our our economic system (after all, it has already made governments throw out the idea of not intervening in the market!) and to find some new ways of providing for our needs. Or of course, it might not.