Some other G20 countries (Brazil, Argentina, Korea) are also managing to make growth work to reduce inequality. And several (UK, France, Germany) are learning how to grow while using a shrinking share of natural resources in absolute terms. But no industrialised country has yet figured out how to support economic growth in a way that won’t exhaust the planet’s resources. Only two G20 countries (India and Indonesia) are using less than their share of natural resources; if their current growth trends continue, that won’t last long, as their consumption increases along with growth.
3. Identify which of our planet’s resources are being exhausted by economic growth.
But the positive examples show us that inequality and environmental ruin are not inevitable outcomes of economic growth. The world doesn’t need to stop growing in order to avoid inequality and protect the planet. Rather, smart policy choices can mean that more people can reap the benefits of growth, and for the long run. Those policy choices include investment in public goods like health and education, income support programmes, and progressive taxation to reduce inequality, and investment in green tech, and making the costs of carbon use transparent to reduce dependence on finite natural resources. By implementing these policies, countries can help more people keep their boats upright even as they encourage the tide of growth to roll in.
4. How can governments promote sustainable economic growth?
