Capital, Economic Growth, and Socio-Ecological Crisis: A Critique of De-Growth

Abstract

ABSTRACTThis paper presents a critique of mainstream growth ideology, as well as of a variety of neo-Malthusian or liberal approaches considering economic growth as an ideology, and “growth economies” as the main culprit of ecological crisis, while disconnecting growth from the prevailing capitalist mode of production. To tackle ecological crisis, they suggest economic de-growth or a steady-state economy, while often projecting the negative impact of economic growth to different forms of production. On the contrary, this paper considers economic growth as an inherent necessity of the capitalist mode of production and explores the socio-ecological conditions of economic growth and capitalist accumulation. With a brief reference to Greece, it is demonstrated that even a protracted recession cannot reverse the trend of environmental degradation and socio-ecological crisis. As argued, overcoming the current crisis requires overcoming not only economic growth, but capitalism itself.