The concept of degrowth dates back to the 1970s, when a group of French intellectuals led by the philosopher Andre Gorz proposed a simple idea: In response to mounting environmental and social problems, they suggested that the only real solution was to produce and consume less — to shrink our economies to cope with the carrying capacity of our planet. The proposal was considered by many at the time to be too radical. But with today’s climate crisis, debates around degrowth have been reinvigorated, and many major figures such as Noam Chomsky, Yanis Varoufakis and Anthony Giddens have, to varying degrees, expressed support for the idea.
For others though — especially business leaders — degrowth is completely unthinkable, not least because of the anti-capitalist and anti-consumerist roots of the term. The prevailing view is that growth is an economic necessity, and any threat to that not only undermines business, but basic societal functioning. For instance, the CEO of H&M Karl-Johann Persson recently warned about the dire social consequences of what he perceives to be a movement of “consumer shaming.” Framed in these terms, the resistance of multinational CEOs and entrepreneurs alike is predictable, as is the reluctance of politicians to promote degrowth policies that would potentially prove unpopular with key constituents. The economist Tim Jackson provides a concise assessment: “Questioning growth is deemed to be the act of lunatics, idealists and revolutionaries.”