Limits to Growth: Future-Proofing the World's Economy, Climate, and Civilisations
The year 2022 marked the 50th anniversary of the seminal report by the Club of Rome, "The Limits to Growth". This was the first report on whether or not there are limits to the Earth system that could put hard limits on industrial development, simulating scenarios for various factors to the year 2100. In this scenario, industrial capital would keep growing until resource depletion leads to the collapse of the industrial base, as well as everything dependent on it. These projections were dismissed by many economists, who suggested that high prices for scarce resources could result in technological innovation and resource substitution.
Despite possessing knowledge of climatic impacts from the government and fossil fuel companies, the window for effective climate action and transition to renewables from the 1980s till the present was also delayed and obstructed for various reasons. According to World Bank, their 2022 data fits the projections from these simulations very closely.
Concurrently, the UNEP released a report on how the world is likely to cross 1.5C in the next few years, and the likelihood of a 2-3C increase (associated with 20-40x the number of deaths of WWI and WWII combined) or even a hothouse Earth scenario continues to rise. Seven out of nine planetary boundaries have now been breached, one of which, ocean acidification, was breached last year.
Given current global socio-economic shifts, now is an opportune time to examine the conditions that have led to the present landscape. EconClubHK would like to welcome Odetta Li to explore whether the existing economic system contains a ‘growth imperative’, and if so, explore its origins and how growth became the dominant metric associated with development and prosperity.
Odetta will also analyze green growth narratives to see if the ‘decoupling’ of GDP from the material base of the economy is viable, while evaluating proposed “green finance” and “sustainable finance” solutions alongside technosolutionist proposals. Following this, she will examine various heterodox economic concepts, including the umbrella of “post-growth” theories to assess their validity. Overall, she aims to share preliminary findings from her research to learn why we are where we are right now, and how these may be related to systemic factors.
Join us for a speaker-led conversation on September 8th in Central Market. Meet the team and fellow members at the podium benches near ChaTime.
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SPEAKER BIO: Odetta Li is a community member of The Economic Club of Hong Kong. She has a Bachelor of Arts (BA) degree in History and Philosophy of Science from the University of British Columbia, partly chosen out of an interest in the macro cycles of societies including collapse. During her time there, she explored multiple things, including deeptech, venture capital, and divestment. She is now exploring independent research on wicked problems, the problem of metric gaming, and how framing using concepts from complexity sciences can aid in effective intervention and resolution, using qualitative and quantitative techniques.
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Suggested videos/articles:
The Lancet - Post-growth: the science of wellbeing within planetary boundaries https://www.thelancet.com/retrieve/pii/S2542519624003103
Oxford Smith School of Enterprise and the Environment - How to Save the Planet: Degrowth vs Green Growth? Watch on YouTube
UNEP Report - Limiting Overshoot - Navigating exceedance of 1.5°C and pathways towards return
https://www.unep.org/resources/limiting-overshoot-navigating-exceedanceBBC - Less is more: Could 'degrowth' save the world Watch on YouTube
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The Economic Club encourages participants to discuss from an economic angle, a social perspective, or to share relevant insights. Beyond the suggested articles, we encourage all participants to choose a recent article and share why they find the piece informative.
Join us at Central Market on Tuesday September 8th at 7pm.
Meet the team and fellow members at the podium benches near ChaTime.
Come grab a drink and be prepared to share your insights!
Feel free to join our Community WhatsApp group: Join WhatsApp Group
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Format:
Part 1: Reading. The first 30 minutes are dedicated to silent reading, allowing participants to immerse themselves in the topics at hand.
Part 2: Discussion. We will form small groups to foster a dynamic and comprehensive exchange of ideas and insights. In lieu of a keynote speaker, the richness of our conversation will be propelled by the collective knowledge and engagement of attendees. A commitment to punctuality, preparation and respect for all participants is crucial.
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The Economic Club of Hong Kong is a platform for lifelong learning and a community of intellectually curious people in pursuit of knowledge. Our events are organised by dedicated volunteers who strive to create an environment of intellectual engagement and exploration.
Check out our past events and discussion topics:
https://www.facebook.com/econclubhk/past_hosted_events