Is prosperity without economic growth possible? | DW Documentary

Critics of growth want to bring the economy into harmony with the environment and social well-being. They see a world that functions without constantly wanting more. But is that realistic?

Hamburg chefs Marianus von Hörsten and Aaron Levi Hasenpusch have decided to turn their back on the idea that a business should always be growing. Their restaurant is closed on weekends. It means more free time and less stress, but also less turnover and less income. For them, it’s feasible.

Otto Fuchs produces specialized metal components for the automotive and aviation industries. His company is aiming for "green growth" — to grow while operating in a climate-friendly way. But this is no easy task. In Germany, climate protection and the transition to green energy cost a lot of money.

Ulrike Herrmann, author of Das Ende des Kapitalismus (The End of Capitalism) is skeptical about green growth. She says it’s not possible, and advocates instead for "degrowth" in order to save the planet. Restructuring the economy would consume vast amounts of clean energy, and Germany simply couldn’t install that many wind turbines. In other words, we’ll have to rein ourselves in.

After the 2008 financial crisis, Iceland introduced a new economic evaluation: the "Wellbeing Economy". As well as measuring things that have a price tag, it also takes into account welfare and quality of life, including access to housing and green spaces, as well as gender equality. Negative factors like environmental degradation and the consumption of resources are also included. Kristín Vala Ragnarsdóttir is professor of sustainability science at the University of Iceland. She’s committed to the idea of a sustainable economy.

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