Grow the economy, grow prosperity, that is the mantra that has guided politicians, economists and human-rights bodies for decades. The reality however, is quite different.
A new report by the United Nations Human Rights Council shows that despite the promises of poverty eradication being attained through the trickling down or redistribution of wealth, economic growth has largely gone to the privileged few.
Indeed, the report specifically highlights how in the last four years, the world’s five richest men have more than doubled their fortunes, whilst nearly 5 billion people have become poorer. If such trends continue, the report argues, more than 575 million people will be trapped in extreme poverty in 2030—meaning that we will have failed to meet the globally approved deadline to eradicate it.
This whole process is made worse by the fact that some 4 billion people worldwide do not have access to any social protection, leaving them vulnerable to the turning and twisting of an increasingly globalised and capitalistic world market.
Growth at all costs and the associated use of natural resources to meet the demands of this target is pushing the planet beyond its ability to cope. Already six of the nine so-called ‘planetary boundaries’—which are the Earth’s support system—have been crossed, meaning that our drive to reach a target we can never hope to attain is quite literally destroying the only home any of us have. A feat that will only get worse as issues such as war and climate change push people toward migration on a scale not seen for centuries.
So, is it all doom and gloom, or is there a possible solution?
What this means in practice according to De Schutter is that countries would shift their focus from growth to humanity and ground their economies in fundamental, universal human values, mainly through using human rights as a guardrail. This would ensure the focus would not move away from meeting core challenges such as eradicating poverty and handling inequalities.
De Schutter argues that concrete steps can be taken now to achieve this and include choosing measures of progress other than gross domestic product (GDP), as these methods tell society nothing about the ecological or social fallout of economic activity. Abandoning GDP, De Schutter argues, would enable countries to start valuing what really counts, as at present we have no true way of accounting for things like unpaid work which at present is not remunerated. By changing the focus from GDP, it is believed that such work could be remunerated through paid parental and carers’ leave, included in pension calculations and supported through access to safe water, sanitation, affordable childcare facilities and other essential facilities.
And how would such a move be financed? Through inheritance and wealth taxes and preventing illegal financial flows and tax evasion alongside tackling corruption alongside greater international cooperation on tax, debt and social protection.
If this sounds far-fetched, perhaps consider that there is indeed a growing movement that is rallying against the growth-driven economic model: climate activists, workers and trade unions, scientists and academics alongside young people and countless others, all of whom are finding their voices and are using them to change the narrative.
All it would take is buy-in from the leadership of the global community and a possible change could be affected. That of course as ever remains the big challenge.
Vivek Rajkhowa 
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