Here's an even crazier idea:
Is growth economics the only answer? What about creating a sustainable economy that isn't dependent on infinite growth of wealth?
Is growth economics the only answer? What about creating a sustainable economy that isn't dependent on infinite growth of wealth?
In some parts of Europe, de-growth movement is quite popular and proposes to shift the focus of government policies from economic growth to population well-being (how this is reached lends itself to debates).
It doesn't mean to stop medical research or technical research, it means stopping to envision growth as being only economic growth. Growth can be seen as progress of human indicators, not the accumulation of things and economic growth for the sake of economic growth (which more and more benefits only rich people).
It originates in the simple fact that the economy can not grow infinitely in a finite world.
That is not to say working less is always a major goal, if someone was doing 20 hour work weeks for 30k they would probably rather have 20 hour work weeks that pay 60k than 10 hour work weeks that pay 20k. The great thing about free markets is they let people balance many of those less tangible goals. However, government policy can easily focus on progress that is out of whack with what people actually want so an understanding that the Chinese population might tolerate more pollution for more growth were an American population cares more about clean air than maximizing growth is nessesary to keep people happy.
The US searched growth in the 2000 at every price, even at the price of over-lending. That is where growth dominates everything at the price of well being, society consistency and eventually economy - see the 2008 crash.
And some people are so ingenious, they'll get richer no matter what you do. To make the typical voter's income at least stay even, the average has to go up then.