I recently read Tyler Cowen’s most recent book Stubborn Attachments, which focuses largely on Cowen’s position that sustainable economic growth is the best path toward prosperity for all (even considering widening inequalities). The book is pretty convincing on a number of points and deserves deeper consideration, especially with regard to our approach to building and the built environment more generally. For me, it also raises a number of questions related to “growth” more generally, even outside the context of economic growth.
In business, markets and investors have turned cold on so-called "growth" companies, especially the "growth at all costs" model of tech VCs and startups. This has resulted in foundering IPOs for big unicorns like Uber and the outright IPO failure of WeWork, as well as increased scrutiny of the valuations behemoths like Apple. But is growth synonymous with speed or success? Would a tempered approach to growth still align with the high-speed, high-risk, high-reward strategies of early investors?
Meanwhile, population growth and increased resource consumption appear to be key drivers of our deepening environmental crisis. Can we have prosperity and stability without growth? Cowen would seem to counter that, if you value prosperity, stability, and the environment over the long term, then sustainable economic growth should be at the top of your list of priorities.
And what about inequality? Are the same forces that drive prosperity also creating the unprecedented economic divide we see in Western nations? This divide resonates politically and socially, as we see the left and the right diverging more sharply around issues such as the role of government and the distribution of wealth.
Is there a balance to be found? Is sustainable growth an oxymoron? Or will economic growth always put us at odds with our environment's carrying capacity? Can new technologies and models of business and governance contribute to a "smarter" approach to growth and environmental health? Is it time to slow down, at least until we develop more and better renewable resources? Or is it the wealth generated by increased economic growth that will catalyze those innovations?
As planners, designers, builders, and entrepreneurs in the built environment, how are these changing attitudes toward growth affecting us?