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The economy that Hickel envisions would cease to pursue growth, green or otherwise. Materials and energy will still be consumed, and waste generated, but at much lower levels. All impacts on the natural world will be tethered to the question, “Growth for whom, and to what ends?” In place of an individualistic consumer economy, Hickel’s post-growth economy would direct itself toward the creation of public goods that allow the many to live well—mass transit, health care—rather than to keep a few in luxury.

A growing body of research reveals an inverse relationship between “happiness” and growth beyond a certain point.

In the rich countries, general contentment peaked in 1950, when GDP and real per capita incomes were fractions of their present size (and inequality near modern historic lows); degrowthers posit that similar happiness levels will be reclaimed on the way back down the economic mountain

Hickel describes a post-growth economy defined by stability and equality, and the freedom and leisure possible when the economy is no longer subservient to the god of growth

He estimates that the U.S. economy could be scaled down by as much as 65 percent while still improving the lives of its citizens. This includes the metric most often tied to celebrations of endless growth: life expectancy.

degrowth will entail a steep reduction across a much wider range of high-energy consumer goods. Keeping a global economy within safe ecological limits is a zero-sum game.

When limited resources are directed toward clean energy infrastructure, public health care, and regenerative agriculture, it will still be possible to build and power modern 24-hour hospitals in every city, but not to have Xbox consoles, two-car garages, and giant appliances in every home.

would have to redefine it, too.

The post-growth economy could not succeed solely by redistributing wealth; it would have to redefine it, too.

He argues that short-term growth would have to continue in those countries that have still not achieved the basic levels of sanitation, infrastructure, and education needed for a decent standard of living, to close the gap. Their larger goal, meanwhile, would be to break free from their historical role as a source of natural resources and cheap labor for the north.

For degrowth to be just, global, and effective, the sharpest reduction in consumption will have to come from the north, where the greatest damage to the planet is currently being done

Ecological economists generally agree that the safe outer limit is eight tons

One person in a low-income country has a materials footprint of roughly two tons per year, a measure of total raw materials consumed, including those embodied in imports. In lower-middle–income countries, that number is four tons; in upper-middle–income countries, 12 tons. In the high-income nations of North America, Europe, and Asia, the number leaps to 28

The wealthiest 20 percent of the human population is responsible for 90 percent of “overshoot” carbon in the atmosphere (that is, a level of carbon that exceeds the limit needed to keep global temperature rise below 2 degrees Celsius)

The planet’s richest one percent has a carbon footprint twice the size of the poorest half of the world’s population combined

For the global north, degrowth not only starts at home, it starts with the biggest houses.

Less Is More doesn’t end in a poetic appreciation for nature’s majesty, but by teasing out its implications for the political project of preserving a habitable planet. Hickel devotes much of the book to explaining that degrowth must be central to this project, promising not just survival, but real democracy, social abundance, and liberation.

Both involve broad social shifts away from private consumption and toward the production of shared public goods.

This beautiful coincidence overlaps with policy programs like the Green New Deal in important way

In July 1979, shortly after installing a set of solar panels over the West Wing, Jimmy Carter did something peculiar for a peacetime president. He asked Americans to sacrifice: to consume less, take public transit more, value community over material things, and buy bonds to fund domestic energy development, including solar

Next to Schumacher’s “Buddhist economics,” Debsian socialism was reformist tinkering. Schumacher didn’t see liberation as a matter of reshuffling the ownership and management structures of the smokestack-powered growth economy. He believed a deeper transformation was needed to maintain a livable planet. This would require new socioecological blueprints “designed for permanence.” As the left and the right battled for control over growth’s levers and spoils, Schumacher pointed out how both had become blind to the rise of growth as its own self-justifying, pan-ideological religion; its patterns of production and consumption, he observed, required “a degree of violence” that did not “fit into the laws of the universe.”

They determined that infinite growth was, in fact, impossible on a finite planet. Barring a major course correction, the team projected, growthism would result in an ecological systems breakdown sometime in the middle of the twenty-first century

This warning, detailed in the 1972 bestseller The Limits to Growth, has aged better than the scorn heaped on it

We are now witnessing what appears to be the beginnings of the collapse predicted nearly 50 years ago

In his new book, Less Is More, Jason Hickel, an anthropologist and journalist, attempts to bring a comprehensive critique of growth closer to the center of the conversation, arguing through a sweeping history of capitalism that it’s uncontrolled growth, not its controlled arrest and reversal, that is the preposterous concept.

This economic and political revolution was reinforced by a complementary scientific one that displaced the lingering animist cosmology of pre-capitalist Europe. The dualism of Francis Bacon and Descartes held reason to be distinct from and superior to matter.

The idea of limitless growth is a relatively recent one. In Less Is More, Hickel traces its origins to the enclosure of the European commons in the sixteenth century

Starving refugees were scattered and forced into a new economy defined by neo-feudal servitude and wage labor. Landowners, meanwhile, began amassing great stores of surplus wealth.

By the mid-1800s, a new “science” had arisen from these assumptions. Neoclassical economics fully abstracted the economy from the natural world. The economy was geared not toward the creation of a happy and prosperous society, but toward the perpetual growth of wealth as its own end, achieved in an inherently virtuous cycle of converting labor and resources into capital, to be accumulated and reinvested in faster and more productive conversions of labor and resources

This ideology subsumed and profaned notions about progress and morality held by the classical economists, until eventually the field even l

This process unfolded despite repeated warnings along the way. Classical economists like John Stuart Mill and, to a lesser extent, Adam Smith not only acknowledged the existence of natural limits to growth, but saw economic development as a phase; at some point, they believed, nations would create enough wealth to pursue other definitions of progres

the caveats issued by Simon Kuznets, father of the concept adopted in the twentieth century as growth’s universal and signature metric: gross domestic product. Kuznets, Hickel points out, “warned that we should never use GDP as a normal measure of economic progress,” because GDP does not distinguish between productive and destructive behavior

Most people encounter the growth debate, if they encounter it at all, through the idea of “green growth.

This is a vision for our collective future based on the belief that technological advance will drastically reduce the amount of raw materials needed to sustain growth—a process known as dematerialization—and “decouple” growing GDP from its ecological impacts.

boosters of the idea point to the transition by rich countries from manufacturing to service-based economies, as well as efficiency gains in energy and in the use of materials

The belief that green growth will save us, also known as “ecomodernism” or “ecopragmatism,” has become a trendy article of faith among elites who acknowledge climate change and the dangers of breaching ecological boundaries

n 2017, Barack Obama threw his support behind the idea in an article for Science magazine, maintaining that signs of decoupling in major economies “should put to rest the argument that combatting climate change requires accepting lower growth or a lower standard of living.”

The argument that capitalism can grow itself out of the present crisis may be soothing to those who like the world as it is. It also relies on the kind of accounting tricks and rejection of reality

By only counting the emissions created within a country that imports most of its cars, washing machines, and computers, you end up pushing the emissions related to their production off the books. When you factor them back in, the picture is much less green. A number of recent studies show no evidence of meaningful decoupling—in energy or materials—even as the world increases its use of renewable energy and finds ways to use some materials more efficiently.

Green growth, Hickel concludes, is an ecologically incoherent “fairy tale.”

consider what the ecomodernist position asks us to believe. The current system requires annual growth of roughly 3 percent to avoid the shock of recession. This means doubling the size of the economy every 23 years

he economy of 2000 must be 20 times larger in the year 2100, and 370 times larger in the year 2200.

Hickel is less interested in the macroeconomic details of this future than are growth critics based in economics departments, like Tim Jackson and Kate Raworth, and more focused on the leisure, security, and general human flourish

he makes an alluring case that degrowth does not require anything like the “command-and-control fiasco of the Soviet Union, or some back-to-the-caves, hair-shirted disaster of voluntary impoverishment.”

Attaining the benefits of the post-growth economy would, however, require what the present consumer society considers “sacrifices.

it’s not clear how many of them are ready to give up its superficial pleasures enabled by consumer debt

Among nations, there’s also the question of fairness: Wouldn’t it be unjust to impose degrowth across the world, when it’s disproportionately the countries of the global north that have spent centuries burning through the planet’s resources?

This output tracks to the one percent’s share of global wealth—a number equal to the GDP of the bottom 169 countries.

Even if you accept the argument that inequality would be best addressed by more centuries of trickle-down growth, you keep running up against the simple fact of its impossibility. Even just one more century of growth—which so far has shown no sign of taking a less destructive form—will require multiple earths

Hickel is serious about bringing the system critiques of E.F. Schumacher and others out of their traditional cloisters and into the streets, and has sought allies in this effort

emphasize what Hickel calls the “beautiful coincidence” of degrowth: that “what we need to do to survive is the same as what we need to do to have better lives.”

Both are internationalist in outlook, and see the world through a lens of climate justice as well as climate equilibrium.

that is, communicating the many benefits of moving beyond the insecurity and terrors of the current system, and building a new society that is sustainable, stable, democratic, and fundamentally better in every way.

Besides teenage girls, another new group was referred to us: young people from the inpatient psychiatric unit, or the emergency department, of St. Louis Children’s Hospital. The mental health of these kids was deeply concerning—there were diagnoses like schizophrenia, PTSD, bipolar disorder, and more. Often they were already on a fistful of pharmaceuticals.

Being put on powerful doses of testosterone or estrogen—enough to try to trick your body into mimicking the opposite sex—-affects the rest of the body. I doubt that any parent who's ever consented to give their kid testosterone (a lifelong treatment) knows that they’re also possibly signing their kid up for blood pressure medication, cholesterol medication, and perhaps sleep apnea and diabetes. 

There are rare conditions in which babies are born with atypical genitalia—cases that call for sophisticated care and compassion. But clinics like the one where I worked are creating a whole cohort of kids with atypical genitals—and most of these teens haven’t even had sex yet. They had no idea who they were going to be as adults. Yet all it took for them to permanently transform themselves was one or two short conversations with a therapist.

Other girls were disturbed by the effects of testosterone on their clitoris, which enlarges and grows into what looks like a microphallus, or a tiny penis. I counseled one patient whose enlarged clitoris now extended below her vulva, and it chafed and rubbed painfully in her jeans. I advised her to get the kind of compression undergarments worn by biological men who dress to pass as female. At the end of the call I thought to myself, “Wow, we hurt this kid.”

How little patients understood what they were getting into was illustrated by a call we received at the center in 2020 from a 17-year-old biological female patient who was on testosterone. She said she was bleeding from the vagina. In less than an hour she had soaked through an extra heavy pad, her jeans, and a towel she had wrapped around her waist. The nurse at the center told her to go to the emergency room right away.

We found out later this girl had had intercourse, and because testosterone thins the vaginal tissues, her vaginal canal had ripped open. She had to be sedated and given surgery to repair the damage. She wasn’t the only vaginal laceration case we heard about.

Bicalutamide is a medication used to treat metastatic prostate cancer, and one of its side effects is that it feminizes the bodies of men who take it, including the appearance of breasts. The center prescribed this cancer drug as a puberty blocker and feminizing agent for boys. As with most cancer drugs, bicalutamide has a long list of side effects, and this patient experienced one of them: liver toxicity. He was sent to another unit of the hospital for evaluation and immediately taken off the drug. Afterward, his mother sent an electronic message to the Transgender Center saying that we were lucky her family was not the type to sue.

Here’s an example. On Friday, May 1, 2020, a colleague emailed me about a 15-year-old male patient: “Oh dear. I am concerned that [the patient] does not understand what Bicalutamide does.” I responded: “I don’t think that we start anything honestly right now.”

There are no reliable studies showing this. Indeed, the experiences of many of the center’s patients prove how false these assertions are. 

Many encounters with patients emphasized to me how little these young people understood the profound impacts changing gender would have on their bodies and minds. But the center downplayed the negative consequences, and emphasized the need for transition. As the center’s website said, “Left untreated, gender dysphoria has any number of consequences, from self-harm to suicide. But when you take away the gender dysphoria by allowing a child to be who he or she is, we’re noticing that goes away. The studies we have show these kids often wind up functioning psychosocially as well as or better than their peers.” 

When a female takes testosterone, the profound and permanent effects of the hormone can be seen in a matter of months. Voices drop, beards sprout, body fat is redistributed. Sexual interest explodes, aggression increases, and mood can be unpredictable. Our patients were told about some side effects, including sterility. But after working at the center, I came to believe that teenagers are simply not capable of fully grasping what it means to make the decision to become infertile while still a minor.

To begin transitioning, the girls needed a letter of support from a therapist—usually one we recommended—who they had to see only once or twice for the green light. To make it more efficient for the therapists, we offered them a template for how to write a letter in support of transition. The next stop was a single visit to the endocrinologist for a testosterone prescription. 

The doctors privately recognized these false self-diagnoses as a manifestation of social contagion. They even acknowledged that suicide has an element of social contagion. But when I said the clusters of girls streaming into our service looked as if their gender issues might be a manifestation of social contagion, the doctors said gender identity reflected something innate.

Frequently, our patients declared they had disorders that no one believed they had. We had patients who said they had Tourette syndrome (but they didn’t); that they had tic disorders (but they didn’t); that they had multiple personalities (but they didn’t).

The girls who came to us had many comorbidities: depression, anxiety, ADHD, eating disorders, obesity. Many were diagnosed with autism, or had autism-like symptoms. A report last year on a British pediatric transgender center found that about one-third of the patients referred there were on the autism spectrum.

This concerned me, but didn’t feel I was in the position to sound some kind of alarm back then. There was a team of about eight of us, and only one other person brought up the kinds of questions I had. Anyone who raised doubts ran the risk of being called a transphobe. 

I certainly saw this at the center. One of my jobs was to do intake for new patients and their families. When I started there were probably 10 such calls a month. When I left there were 50, and about 70 percent of the new patients were girls. Sometimes clusters of girls arrived from the same high school. 

Until 2015 or so, a very small number of these boys comprised the population of pediatric gender dysphoria cases. Then, across the Western world, there began to be a dramatic increase in a new population: Teenage girls, many with no previous history of gender distress, suddenly declared they were transgender and demanded immediate treatment with testosterone. 

Soon after my arrival at the Transgender Center, I was struck by the lack of formal protocols for treatment. The center’s physician co-directors were essentially the sole authority.

At first, the patient population was tipped toward what used to be the “traditional” instance of a child with gender dysphoria: a boy, often quite young, who wanted to present as—who wanted to be—a girl. 

During the four years I worked at the clinic as a case manager—I was responsible for patient intake and oversight—around a thousand distressed young people came through our doors. The majority of them received hormone prescriptions that can have life-altering consequences—including sterility. 

I left the clinic in November of last year because I could no longer participate in what was happening there. By the time I departed, I was certain that the way the American medical system is treating these patients is the opposite of the promise we make to “do no harm.” Instead, we are permanently harming the vulnerable patients in our care.

Today I am speaking out. I am doing so knowing how toxic the public conversation is around this highly contentious issue—and the ways that my testimony might be misused. I am doing so knowing that I am putting myself at serious personal and professional risk.

Almost everyone in my life advised me to keep my head down. But I cannot in good conscience do so. Because what is happening to scores of children is far more important than my comfort. And what is happening to them is morally and medically appalling.

For almost four years, I worked at The Washington University School of Medicine Division of Infectious Diseases with teens and young adults who were HIV positive. Many of them were trans or otherwise gender nonconforming, and I could relate: Through childhood and adolescence, I did a lot of gender questioning myself. I’m now married to a transman, and together we are raising my two biological children from a previous marriage and three foster children we hope to adopt. 

The center’s working assumption was that the earlier you treat kids with gender dysphoria, the more anguish you can prevent later on. This premise was shared by the center’s doctors and therapists. Given their expertise, I assumed that abundant evidence backed this consensus. 

All that led me to a job in 2018 as a case manager at The Washington University Transgender Center at St. Louis Children's Hospital, which had been established a year earlier. 

China’s technocrats have, to date, demonstrated competence in managing the economy’s imbalances.

Mainland China has delivered significant extra returns -- 87 basis points a year more than the mighty S&P -- for anyone willing to hack the wild volatility

“On balance,” Adam sums up, “If you want to be part of history-making economic transformation, China is still the place to be.”

The third point is where we disagree. We just don’t see China as having any good options for maintaining strong growth. 

we think China’s underlying growth story is coming to an end as the country’s economic imbalances become unsustainable and global decoupling picks up steam. The volatility and low valuations, on the other hand, are likely here to stay. 

Replace bad investment with domestic consumption. 

What imbalances are we talking about? In crude summary, China’s growth has been driven by debt-funded investment, especially in property and infrastructure. The problem is that the returns on these investments are in fast decline, even as debt continues to build up.

This can’t go on forever. Eventually, you have all the bridges, trains, airports and apartment blocks you need, and the return on new ones falls below zero (How do you know that you have arrived at that point? When you have a financial crisis).

The problem is that without a healthy consumer, China’s only real options to create growth are investment and exports -- and at the same time as return on internal investments are declining, the rest of the world, led by the US, are increasingly wary of dependence on Chinese exports. 

What are China’s policy options? Broadly, there are five, as Micheal Pettis explained to us:

Stay with the current model.

Replace bad investment in things like infrastructure and real estate with good investment in things like tech and healthcare.

Beijing has policy options.

Replace bad investment with (even) move exports and a wider current account surplus.

Just quit it with the bad investment. 

we think that options 1 and 5 are not really options at all. The current model will lead to a financial crisis as return on investment falls further and further behind the costs of debt. Simply ceasing to overinvest in infrastructure and real estate, without changing anything else, will simply kill growth. 

Option 2 might be summed up -- as Jason Hsu of Ralient Global Advisors summed it up to us -- as China becoming more like Germany.

The idea is that China would steer more and more money away from real estate and towards high value-add sectors from biotech to chip manufacturing. 

The problem with option 2 is that investment is such a huge part of the Chinese economy that it is difficult to see how that the capital could be efficiently allocated to the country's tech-heavy, high value-add sectors, which are comparatively small

The most promising Chinese firms are swimming in capital as it is. And developing productive capacity isn't just about capital. It takes things the state can't rapidly deploy, like knowhow and intellectual property.

Option 3 is more promising. China could start, as Adam suggests, by building up a proper welfare safety net. But it is reasonable to expect pretty serious social and institutional resistance to this sort of mass redistribution.

why hasn’t China increased its welfare state until now? Longtime China watcher and friend of Unhedged George Magnus suggests it is because of a deep bias in the Chinese policy establishment. “It’s how Leninist systems operate: they think production and supply are everything … if you see a demand problem as a supply problem, you get the wrong answers.”

Option 4, increasing exports’ share of China’s economy even further, may be in the abstract the most appealing. But it runs directly into the fact that both China and the US and its allies have reasons to reduce mutual dependence on their economies.

The emergence of geopolitical divisions between the west, on the one hand, and Russia and China, on the other, will put globalisation at risk. The autocracies will try to reduce their dependence on western currencies and financial markets. Both they and the west will try to reduce their reliance on trade with adversaries. Supply chains will shorten and regionalise… 

Russia must remain a pariah so long as this vile regime survives. But we will also have to devise a new relationship with China. We must still co-operate. Yet we can no longer rely upon this rising giant for essential goods. We are in a new world. Economic decoupling will now surely become deep and irreversible.

In all, the most likely scenario is that China’s growth just keeps slowing. That does not mean that investors in China will necessarily lose money. But it does suggest that generic China exposure -- simply owning Chinese equity or credit indices -- is going to be a losing proposition in the long-term

17 percent of G.D.P.

there is now one administrator or manager for every 4.7 employees, doing things like designing anti-harassment trainings, writing corporate mission statements, collecting data and managing “systems.”

This situation is especially grave in higher education. The Massachusetts Institute of Technology now has almost eight times as many nonfaculty employees as faculty employees

The general job of administrators, who are invariably good and well-meaning people, is to supervise and control, and they gain power and job security by hiring more people to work for them to create more supervision and control

Their power is similar to what Annie Lowrey of The Atlantic has called the “time tax.” If you’ve ever fought a health care, corporate or university bureaucracy, you quickly realize you don’t have the time for it, so you give up

As Philip K. Howard has been arguing for years, good organizations give people discretion to do what is right. But the trend in public and private sector organizations has been to write rules that rob people of the power of discretion

kids’ activities, from travel sports to recess, are supervised, and rules dominate. Parents are afraid their kids might be harmed, but as Jonathan Haidt and Greg Lukianoff have argued, by being overprotective, parents make their kids more fragile and more vulnerable to harm.

High school students design their lives to fit the metrics that college admissions officers require. And what traits are selective schools looking for? They’re looking for students who are willing to conform to the formulas the gatekeepers devise.

t Stanford is apparently now tamed. I invite you to read Ginevra Davis’s essay “Stanford’s War on Social Life” in Palladium, which won a vaunted Sidney Award in 2022 and details how university administrators cracked down on student initiatives to make everything boring, supervised and safe.

Mark Edmundson teaches literature at the University of Virginia. The annual self-evaluations he had to submit used to be one page. Now he has to fill out about 15 electronic pages of bureaucratese that include demonstrating how his work advances D.E.I., to make sure his every waking moment conforms to the reigning ideology.

the whole administrative apparatus comes with an implied view of human nature. People are weak, fragile, vulnerable and kind of stupid. They need administrators to run their lives

The result is the soft despotism that Tocqueville warned us about centuries ago, a power that “is absolute, minute, regular, provident and mild.”

this kind of power is now centerless. Presidents and executives don’t run companies, universities or nations. Power is now held by everyone who issues work surveys and annual reports, the people who create H.R. trainings and collect data

Trumpian populism is about many things, but one of them is this: working-class people rebelling against administrators. It is about people who want to lead lives of freedom, creativity and vitality, who find themselves working at jobs, sending their kids to schools and visiting hospitals, where they confront “an immense and tutelary power” (Tocqueville’s words) that is out to diminish them.

He is concerned that masters of the A.I. universes are developing systems that will expand chasms of inequality. He fears the transition to A.I. will be so abrupt that entire professional fields will be left doing menial jobs, or nothing, stripping people of dignity and unleashing floods of “despair.”

Father Benanti, who does not believe in the industry’s ability to self-regulate and thinks some rules of the road are required in a world where deep fakes and disinformation can erode democracy.

He shares his insights with Pope Francis, who in his annual World Day of Peace message on Jan. 1 called for a global treaty to ensure the ethical development and use of AI to prevent a world devoid of human mercy, where inscrutable algorithms decide who is granted asylum, who gets a mortgage, or who, on the battlefield, lives or dies.

all the time he applies his perspective about what it means to be alive, and to be human, when machines seem more alive and human. “This is a spiritual question,” he said.

raises enormous questions about redistributing wealth in an A.I. dominant universe.

he pursued an engineering degree at Sapienza University in Rome. It wasn’t enough.“I started to feel that something was missing,” he said, explaining that his advancement as an engineering student erased the mystique machines held for him. “I simply broke the magic.”

He left Rome to study in Assisi, the home of St. Francis, and over the next decade, took his final vows as a friar, was ordained as a priest and defended his dissertation on human enhancement and cyborgs. He got his job at the Gregorian, and eventually as the Vatican’s IT ethics guy.

In 2017, Cardinal Ravasi organized an event at the Italian embassy to the Holy See where Father Benanti gave a talk on the ethics of A.I. Microsoft officials in attendance were impressed and asked to stay in touch. That same year, the Italian government asked him to contribute to A.I. policy documents and the next year he successfully applied to sit on its commission for developing a national A.I. strategy.

Francis, he said, didn’t at first realize what Microsoft really did, but liked that Mr. Smith took out of his pocket one of the pope’s speeches on social media and showed the pontiff the concerns the business executive had highlighted and shared.

e said, arguing that as ancient Roman augurs turned to the flight of birds for direction, A.I., with its enormous grasp of our physical, emotional and preferential data, could be the new oracles, determining decisions, and replacing God with false idols.

“It’s something old that probably we think that we left behind,” the friar said, “but that is coming back.”