The idea of GDP or Gross Domestic Product was invented in the 1930s to represent the total cost of goods and services sold in an economy during a year. Very soon after its introduction, it became the overriding rule. Today, most companies focus on growth year after year. Even some of the richest countries in the world believe that the solution to their economic problems lies in more growth.
But is this really the solution? And does this create a sustainable, universally beneficial economy?
Oxford Economist, Kate Raworth, challenges the notion that growth is the only solution to economic problems. Perhaps economies are meant to grow and then level off. And perhaps the goal of some economies should be to thrive, not necessarily grow.
See as Kate uses the natural cycle of evolution to explain this theory and how it could quite possibly be the solution to creating a more sustainable world.
Photo by Jose Francisco Fernandez Saura
