Are We There Yet?

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“Whether our economic airplane can keep on cruising or is about to stall mid-air, one thing is evident: it is currently heading for a destination that we do not want to reach, one that is degenerative and deeply divisive. If we reorient ourselves to the economic destination that we do want—an economy that is regenerative and distributive by design—then new questions about growth come to the fore. What might happen to GDP as we transition towards that destination? And what is GDP likely to do once we get there? It is not possible to predict definitively one way or the other whether GDP will go up or down in high-income countries as they create regenerative and distributive economies that engage the household, market, commons and state alike.”