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Our Economy Should be Designed to Thrive NOT Grow

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We have discussed the conspicuous consumption model which people everywhere have become addicted at every level of society. The individual aspires to buy a house, car, travel and in large part sees the acquisition of material things as a badge of success. The government (reflecting the sovereignty from the people) works hard to maintain popularity with the people and therefore pursues policies to satisfy as insatiable thirst of the conspicuous consumption model.

In order to disrupt the downhill rollercoaster ride to nowhere enlightened citizens will have to shout enough is enough. There will have to be a revolution in thought, word and deed. Listening to the debates and various exchanges in social media and elsewhere it is evident the majority of our people are locked in an unproductive mindset. The reality is the cliche it is not business as usual is apt now more than ever.

The blogmaster watched the following presentation A healthy economy should be designed to thrive, not grow by Economist Kate Raworth and was intrigued by her postulation. Take the time to view the 15 minute presentation to feed your mind a different perspective IF you dare!

Oxford Economist Kate Raworth – TED Talk

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288 responses to “Our Economy Should be Designed to Thrive NOT Grow”

  1. 555dubstreet Avatar
    555dubstreet

    “Dope will get you through times of no money
    better than
    Money will get you through times of no dope.”


    https://twitter.com/farm_2019/status/1238595701023617025

  2. Observing Avatar
    Observing

    I can sum this up in three word.

    Leadership is needed

    If after Covid, a volcano and a hurricane we still don’t “get it” then God help us.

    just observing

  3. angela cox Avatar
    angela cox

    Vision less bunch all across the Caribbean
    Nuff long pretty talk and no action

  4. David Avatar
    David

    @Observing

    We dun know a subject matter such as this one will not attract the regulars for all the obvious reasons AND we clamour for change.

  5. John Avatar
    John

    There is a principle called product life cycle which makes this logic fall to pieces.

    There is always growth then maturity and finally decline.

    For a company/economy to thrive there has to be the energy to be constantly doing product research and development because everything is for a time.

    Nothing lasts forever.

    An economy/business can only thrive if the culture to be always finding new endeavours is present.

  6. David Avatar
    David

    Is this the point the presenter is making? It is about finding ways to reuse resources in the life cycle that is presently being dumped.

  7. John Avatar
    John

    Look at water and construction.

    The water resource has been used up and it makes no sense to build more houses.

    Yet, the Government looks to construction to grow the economy.

    The problem here is there are very few people who can come up with new products and activities to grow, mature and and replace.

    We are a nation of social scientists.

    Any degree at any cost is promoted when some degrees are more equal than others.

  8. John Avatar
    John

    In the absence of the can do mentality in Barbados the only activity that shows potential for growth at the moment is agriculture!!

  9. WURA-War-on-U Avatar
    WURA-War-on-U

    “If after Covid, a volcano and a hurricane we still don’t “get it”

    don’t waste your energy, they still don’t get it and never will….look further afield for yourself and family, let them be a laughing-stock because that is what they want.

  10. 555dubstreet Avatar
    555dubstreet

    You have to have growth, else economies fail, wealth becomes more concentrated in a smaller minority, banks stop lending, cost of living rises, people become poorer, competition undercuts each other, businesses make losses, wages stagnate, job markets shrink, inequalities rise.. capitalism is like a shark that has to keep moving to stay alive.

    3rd world is growing, catching up with first world who want it all


    https://www.youtube.com/watch?v=qlO4XWWTONM

  11. NorthernObserver Avatar
    NorthernObserver

    The Barbadian economy is thriving.
    Next.

  12. John Avatar
    John

    DavidJuly 5, 2021 9:43 AM

    Is this the point the presenter is making? It is about finding ways to reuse resources in the life cycle that is presently being dumped.

    ++++++++++++++++++++++++++++++

    It is about being mature enough to accept when products/services/activities reach the end of their life cycle and finding new ones to replace them.

    Case in point the construction sector in Barbados.

    It is a dead end activity given the limit on water resources and also land resources.

    What replaces it?

    Blank stares.

    A thriving economy is one where there are no blank stares.

  13. Donna Avatar
    Donna

    Power back on. Still buying generator.

  14. Donna Avatar
    Donna

    David,

    Still have not recovered. Thinking is difficult. Just watched video. No comment until thought has taken place.

  15. NorthernObserver Avatar
    NorthernObserver

    @John
    On a land mass surrounded by water, how could water resources be limited? The only limitation is our ability to purify water. We wish to water our gardens and crops, flush our toilets etc with potable water. Why?

  16. David Avatar
    David

    We have come along being told from secondary school the planet operates with finite resources. The point the presenter is making is that we have to rejig the existing model to create a new model to use ALL materials. In other words there shall be no waste in the new model.

  17. David Avatar
    David

    Looking forward to your comment Donna, we need more disruptive inputs on the blog.

  18. John Avatar
    John

    NorthernObserverJuly 5, 2021 12:27 PM

    @John
    On a land mass surrounded by water, how could water resources be limited? The only limitation is our ability to purify water. We wish to water our gardens and crops, flush our toilets etc with potable water. Why?

    ++++++++++++++++++++++++++++++++++++++

    If construction could support the cost of desalination there would be no pond with water removed from the BWA resources feeding Trents pumping station at Farmers to support the Apes Hill greens.

    Even golf development can’t support it.

    Has nothing to do with ability to purify … it has everything to do with cost.

    Construction makes no financial sense if it has to bear the weight of desalination.

  19. John Avatar
    John

    DavidJuly 5, 2021 1:14 PM

    We have come along being told from secondary school the planet operates with finite resources. The point the presenter is making is that we have to rejig the existing model to create a new model to use ALL materials. In other words there shall be no waste in the new model.

    ++++++++++++++++++++++++++++++

    The flaw in her logic is she does not realise that there has to be growth.

    What she could have said is that all the activities that go towards making a growing economy should be properly costed and be able to pay for their existence.

    That’s miles away from advocating no growth.

  20. David Avatar
    David

    Can cost be justified given the objective of generating and distributing adequate supply of water?

  21. John Avatar
    John

    So, if the Hyatt needs x gallons of water and produces y gallons of sewage, it should not be subsidised but pay its proportionate tru tru contribution.

  22. John Avatar
    John

    It’s ability to be a growing concern cannot depend on subsidization.

    Westmoreland and Apes Hill should have been required to provide their own desal plants not necessarily to water their greens, but to replace the 2 million gallons per day from the Porter’s catchment they removed from the Island’s water resources by just being there.

  23. David Avatar
    David

    Let not focus on what hindsight affords us, what are the remedies and retrofitting that is required?

  24. de pedantic Dribbler Avatar
    de pedantic Dribbler

    @David I have not yet listened but based on the remarks I initially agree with @John who is basically suggesting that the narrative is more nuanced semantics than fundamental economic remodeling… your remarks also suggest that!

    @John, however, then takes his narrative too far in my view because growth and thriving are essentially different sides of the same coin …

    The ‘product life cycle’ theory does NOT negate the concept of a thriving economy.

    Every economy MUST grow from its initial industrial/services/farming ‘base and and seek to ‘thrive.

    As it ‘matures’ there MUST be ‘cannibilazation” of some of those developmental areas as newer methods, techniques, technologies etc are created … workers move into different areas with supposedly better skills and knowledge … thus the society seeks to THRIVE and progress smoothly.

    BUT there then must be a newer wave of development to fuel NEW growth or the society will stagnate and as he notes eventually “decline”.

    The presenter surely cannot be suggesting lack of developmental growth so if her focus, as you suggest,
    is “to rejig the existing model to create a new model to use ALL material” then that in itself will generate ‘growth’!

    OOfcouse we cur.

  25. de pedantic Dribbler Avatar
    de pedantic Dribbler

    … of course we must curb our continuous consumption but we can thrive and grow synonymously .

  26. David Avatar
    David

    @Dee Word

    Will wait until you watch the video.

  27. BAJE Avatar
    BAJE

    Let not focus on what hindsight affords us, what are the remedies and retrofitting that is required?

    xxxxxxxxxx

    WHAT ARE THE 26 ELECTED JOKERS IN PARLIAMENT DOING FOR THEIR MONTHLY PAYCHECKS?

  28. NorthernObserver Avatar
    NorthernObserver

    @John
    Human nature is we use what is affordable. For years water has been undervalued. Forget golf courses, they are a water hog. The construction use of water pales in comparison to the ongoing demand by the inhabited buildings. Given the non-corrosive piping available, why do we use potable fresh water to flush toilets? Which we likely flush too often = more water use. We then take the potable water and ADD salt to cook food.
    We lose ???? Gallons because the mains are leaking. Too expensive to fix? Because water still has little value. Yet we reason desal is too expensive. Is it? Today solar is being used to power the smaller desal plants.

  29. Bajeabroad Avatar
    Bajeabroad

    @BAJE

    You asked the fundamental question. What is the largest cabinet in the history of Barbados doing on a daily, weekly and monthly basis??? Along with its army of consultants???

    What are the specific development goals Barbados is looking to achieve and what is the monthly progress towards each of those goals?

    Water availability still a mess
    Public transport still a mess
    Diversification steps away from tourism, still in fantasy land / no concrete steps
    Price inflation no abatement in sight
    Linking agriculture to tourism, still only talking
    Common entrance replacement, still only hot air with no specific steps and timing
    10 step post-Covid development plan. Auntie still hiding it
    And the list goes on and on. Just talkers

    What on earth are these high paid ministers doing daily, weekly and monthly??? Anything new and different except appearing on TV after an issue appearing to care…the easy stuff to look busy while no work to solve the real problems being done. Biding time till the next vote buy

    That is the plain old truth. Do nothingers

    It’s up to a few bright sparks toiling away to make a difference for themselves and their family

  30. David Avatar
    David

    The issue remains, how do we change the status quo. How do we hold public servants accountable except every five years. The need for disruptive forces to intervene is the point. The current state is the result of many decades of dross.

  31. Cuhdear Bajan Avatar
    Cuhdear Bajan

    @NorthernObserver July 5, 2021 5:26 PM ” why do we use potable fresh water to flush toilets? Which we likely flush too often…”

    In this my island in the sun I do not flush for number 1. Why use 2 gallons of water to flush 4 ounce of pee? For me that math does not add up. I’ve knocked $34 per month off my bill. Did not grow my bill, I shrank it.

  32. NorthernObserver Avatar
    NorthernObserver

    @SS
    Otherwise known by…if it’s yellow let it mellow when it’s brown flush it down.

  33. de pedantic Dribbler Avatar
    de pedantic Dribbler

    OK @David, an excellent presentation… the professor is a skilled orator… she massges imagery of words well.

    But I really wouldn’t change much of my initial comments drastically as she speaks directly to that summary…

    Her analogy of visiting the doctor and being told that there is a growth in your body and the worry that causes in an otherwise “thriving” body juxtaposed against her economic modeling of thriving without ‘depreciative’ growth is a powerful one but beggars further query.

    Does our body not need further developmental growth or new action (if u prefer) to control that growing tumor!

    In sum, the professors thesis makes good sense and as she notes it’s really a major plank in many a city as they strive to continue building a thriving economy. .. which alas is ‘growth’ spelled differently.

    In pretty lingo: she seeks a paradigm shift … an important shift indeed… so maybe I can change the part of my original screed where I said it was more nuanced semantics than fundamentals… it’s more like nuanced fundamentals 😎.

    A very solid presentation. Thanks for the highlight reference.

  34. 555dubstreet Avatar
    555dubstreet

    I do not agree that she is all that as she seems to have combined various initiatives such as green agendas social and wealth inequalities into her own thesis to make some fame and monies like Piketty. Third World poverty and inequality was by design, by global capitalists, white supremacist, colonialists who robbed the world resources like pirates. Socialism is deemed a dirty word for being a great leveller for the world’s poor. The West use every dirty trick in the book to control the world’s wealth, such as the wars they have been engaging in since Y2K and before and would be happy if the 77% third world population were wiped of planet earth.

  35. Bajeabroad Avatar
    Bajeabroad

    @David
    There is one way that will work. It’s based on human psychology and known behavior.

    We need a satirical journalism Facebook / Instagram news channel…something like the Daily Show. Funded by grassroots Bajans and overseas Bajans so that they are not BLP, DLP or major corporate donor influenced and can satirically report on these jokers without fear of losing their pick. Funding can be like the GoFund model

    Our traditional journalists are WEAK and BOUGHT through advertising budgets. No one checks these politicians today and holds them accountable so we need a popular program that exposes and embarrasses them into action. Bring them down to earth with facts, finger pointing and laughter (not talking about slander) and challenge them on the issues. The satirical approach would go viral and really shine the spotlight on these jokers….

    That is one way to embarrass them into action as politicians have negative publicity like the plague…Also relatively easy to setup and they’ are already some well informed folks to cover the news

  36. Bajeabroad Avatar
    Bajeabroad

    **Hate instead of Have

    Also that explains why your blog and others like the Chase Files are monitored as it’s relatively unfiltered and gets politicians scared about Fake News.

    But does not go far enough in challenging the status quo

  37. David Avatar
    David

    @Bajanabroad

    Fair enough, we need the trigger; tipping point. This is our problem, we know what we need.

  38. Observing Avatar
    Observing

    @David and bajanabroad
    You mention the tipping point, but any trigger needs a finger, and any point needs two lines to come together.

    As someone one said about Bajans “we like it so.”

    if we are serious about positive disruptive forces and meaningful change, one of us needs to be “the dancing guy”

    Will the real leaders, lone nuts and brave followers please stand up??

    Just observing

  39. NorthernObserver Avatar
    NorthernObserver

    “This is our problem, we know what we need”
    Interesting.
    A good problem to have? Just having a challenge finding a path?

  40. David Avatar
    David

    @NO

    The usual as you are well aware. There is a level of disengagement, apathy and lethargy that afflict our people, governmental and non that bears no explanation if we accept we are an educated people.

  41. John Avatar
    John

    NorthernObserverJuly 5, 2021 5:26 PM

    @John
    Human nature is we use what is affordable. For years water has been undervalued. Forget golf courses, they are a water hog.

    ++++++++++++++++++++++++++

    Actually, it is the high end housing that goes with Golf Courses that are the water hogs.

    The golf courses are just an attraction for these persons.

    In a country which periodically experiences droughts, high end housing demand irrigation to keep up their appearances even in those times.

    How many high end houses are in Apes Hill or Westmoreland?

    Their consumption over and above toilet flushing is what drives the demand for water up.

    Yes, water is undervalued but if you place people with access to large amounts of money in a position to demand water which is sold at a pittance to keep up appearances, the result is what we see today.

    We really cannot afford the high end tourists.

    Now, if we were to charge them an arm and a leg for the water they demand over and above toilet flushing for sure you will hear them squeal.

    .. or even worse, impose restrictions for irrigation as is often done in developed countries on them.

    Golf and high end “tourists” are unsustainable in a water scarce country like Barbados.

    They are activities which grew the economy for a while, but at a terrific cost which exacerbates a problem which was ignored when the decision to allocate resources was made.

    Look at what Mr. Rooney did with Westmoreland, or Wastemoreland as it is often referred to!!

    By the early 2000’s, he had sold off his interests to Mr. Morphet for $100 million USD and made his killing.

    Had those who were responsible for our economy properly and responsibly costed the activity we would not have gone down this road and chosen more realistic activities which may have also caused longer term growth for our country’s economy.

    The lady in the clip is really only addressing the results of half ass decisions which are not sustainable in the long term. and Barbados is not the only country whose leader’s make them.

    There must be growth, but at what cost?

    https://golfbusinessnews.com/news/property/uk-entrepreneur-buys-barbados-golf-resort/

  42. John Avatar
    John

    Think about it, who do you hear speaking about the growth of the economy?

    Politicians.

    Rarely do you hear people involved in making their businesses grow speak about the growth of the economy.

    Yet these are the people who are responsible for economic growth, not the politicians!!

    Instinctively we distrust business people who speak the way politicians do because instinctively we know the two are in cahoots to make a fast buck.

    What the lady in the clip has a problem with is really half ass decisions and political corruption.

    Growth in a business has to happen or death ensues … and then there is no economy!!

    She needs to get to first principles.

  43. 555dubstreet Avatar
    555dubstreet

    The white lady seems to have rich white lady issues where they chat about shit like animal rights but not black rights and human rights and appears to be Australian who are racist dogs.

    .. first world arguments that do not address third world worries and problems

    “one of us needs to be “the dancing guy””

    White Folks Vs Black Lives Matter

    I think I may have put up the same video on BU many moons ago but with a different narrative of the social phenomenon at a psychoanalytical level.

    It is obvious that white folks can’t dance,

    We have seen white folks abuse the net for political psyops with racial dog whistling since the mixed race PotUS.

    If you look at the really bad “dancing guy” as a Donald Trump clown, then you can see that he is a flop until 3 or 4 disciples join him to act the fool mimicking him and start to dance like freaks on acid. Once he has got about 12 disciples then many more white hippies become interested in the “happening” and are drawn to the crowd and a movement is begin to form. Then you have an insurrection like the capital hill riots where everyone wants to act the fool based on a big lie.

    Bass Culture, Cultural Dub Vs Reggae Sounds, Shocking Dub,

    https://www.youtube.com/watch?v=1R-1VGAhsdw

  44. WURA-War-on-U Avatar
    WURA-War-on-U

    “We need a satirical journalism news channel”

    brilliant….exclusively Black owned and controlled….and as serious as African Diaspora News…

    i went with an exclusively Black owned publishing company with blanket reach…the best weapon and vehicle for the future…..they are still searching everywhere for it and it’s still putting valuable information out there…and if they can’t find one, they will never be able to find the branches of that one, they may see and hear about certain issues, but a lot of good it will do them…and ah don’t even have to use satire.

    .i dare any little shitehound minority or government rat from the island to even think they can go up against that…..wish they would….let them try, i would take great pleasure, in essence, they have been rendered powerless.

  45. 555dubstreet Avatar
    555dubstreet

    “brilliant….exclusively Black owned and controlled….and as serious as African Diaspora News…”

    Babylon spies are watching everyone watching everyone watching everyone and are spinning information in their news outformation like war propaganda. They have hip hop police translating rap grime and drill lyrics as music is the black CNN. The new negros series on comedy central inadvertently started a war on woke reaction to stop people becoming awakened and enlightened and developing and thriving and growing into big herb trees by killing seeds before they grow old

  46. David Avatar
    David

    Nayan Dusoruth

    I would think that the problem is unstable growth, whereby our growth outstrips the ecological boundary on the donut. Stable growth would thereby be growth that stay within the ecological boundary, but using tech and other methods to expand the ecological boundary so that we might continue to grow whilst staying stable and improving our lives.

  47. WURA-War-on-U Avatar
    WURA-War-on-U

    “Babylon spies are watching everyone watching everyone watching everyone.”

    swings both ways, so many tools are available, everyone is watching everyone else…..lol

  48. 555dubstreet Avatar
    555dubstreet

    The excerpt represents the core issue or deciding factor on which you must meditate, and is drawn from King James Bible:
    JOB 38:1 Then the LORD answered Job out of the whirlwind, and said,

    JOB 38:2 Who is this that darkeneth counsel by words without knowledge?

    JOB 38:3 Gird up now thy loins like a man; for I will demand of thee, and answer thou me.

    JOB 38:4 Where wast thou when I laid the foundations of the earth? declare, if thou hast understanding.

    JOB 38:5 Who hath laid the measures thereof, if thou knowest? or who hath stretched the line upon it?

    JOB 38:6 Whereupon are the foundations thereof fastened? or who laid the corner stone thereof;

    JOB 38:7 When the morning stars sang together, and all the sons of God

  49. 555dubstreet Avatar
    555dubstreet

    “swings both ways, so many tools are available, everyone is watching everyone else…..lol”

    the winternet was implemented by CIA and is controlled and monitored by them

    so whenever you post something you are sending a carbon copy of your memo to the feds

    if you become too radical your computer will become obsolete

    https://www.upsetter.net/scratch/words/outerviews/outerview_sleeper97.htm

  50. Wily Coyote Avatar
    Wily Coyote

    @David

    “Let not focus on what hindsight affords us, what are the remedies and retrofitting that is required?”

    David your moving in the direction of CHIEF PUSSY LICKER. No doubt your also a believer of removing Nelson’s column will change history. One thing Barbarians are good at is not seeing their past mistakes and taking corrective action. The last 20 years of downward economic spiral is still not recognised by the Barbados management leaders, all they ever look for is a quick and easy fix for relatively simple problems which all that is needed is dedication to solving over the long term. Basic infrastructure is failing and no corrective action is planned. The solutions are all readily available, just get on with the task, bite the bullet, take the time and restore the country’s economic stability. The consequeces are FAILED STATE, the big question is can this FAILED STATE SURVIVE ?

    The answer Is presently NO, unless there is a radical change in government operations and policy.

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