Is Growth Good?

growth.jpgBenjamin Friedman in The Moral Consequences of Economic Growth claims that economic growth is an imperative and morally necessary, particularly to raise the standard of living throughout the world. But is growth good?
Several readers responded to this question on the Harvard Business School publication, Working Knowledge. Apparently most of the responses indicate that the question should be re-phrased as, what constitutes good growth. Follow the link to read the responses.
Most responders, and by extension most readers who are well-educated managers, seem to hold socially responsible ideas indicating that many know the “right” thing to do (in our eyes). The question I have is, Why hasn’t there been a larger change? Why are economies still measured by gross domestic product? Why do shareholders still want corporations to raise quarterly earning? Why are managers motivated to improve productivity with the intent of reducing the workforce? Read the summary here.
– Ken Chung at InformedStrategy.com
ED NOTE – Ken’s article reminds me of one of my favorite quotes about this issue: “Growth for the sake of growth is the ideology of the cancer cell” – Edward Abbey