The Illusion of Growth
The global economic downturn continues to persist. The recession that followed the COVID-19 pandemic has led to a crisis in manufacturing, a shortage of jobs, and a deterioration of domestic markets. South Korea is no exception. Some already claim that the Korean economy has entered a prolonged recession.
The author argues that the economic downturn we are currently experiencing is not a short-term phenomenon. He believes that the world has already embarked on a path of 'post-growth.' The traditional capitalist mindset?that growth and profit automatically follow capital investment and labor input?is no longer valid. According to the author, it is now necessary to fundamentally re-examine this very framework.
He questions the traditional growth paradigm centered on Gross Domestic Product (GDP). South Korea ranks among the world's top ten economies by GDP, but in the United Nations' World Happiness Report, it remains at 58th place, with its ranking declining every year. To the question, "We produced more and worked longer, but have we truly become happier?" the author firmly answers, "No."
Until now, we have pursued growth as our sole objective. Concerns about "how much production is enough" and "with whom and how we should share" were pushed aside. The result has been overproduction, overwork, and the emergence of climate change and inequality. However, infinite growth is now not only impossible but also unsustainable. In South Korea, where population decline is accelerating, the very direction of "producing more" has become unrealistic.
Today's value-driven consumption and zero-waste movements may seem eccentric to some, but the author emphasizes that these are, in fact, the most strategic survival methods in the post-growth era. He argues that a lifestyle of "consuming less and sharing more" can become the new normal after the crisis. In reality, the paradigm of everyday life is changing worldwide, taking various forms such as the four-day workweek, minimalism, local self-sufficiency economies, and experiments in the sharing economy. Now, "earning less, spending less, and living more authentically" is becoming a universal practice rather than an exception.
Of course, individual efforts alone are not enough for society as a whole to change. Transformation is also required from governments, businesses, and institutions. Policy shifts that consider distribution and circulation are needed, such as imposing higher taxes on products with significant environmental or social costs, or making welfare a central criterion in budget allocation. To make this possible, broad consensus and solidarity within civil society are essential.
The call to "grow more slowly" is not a call for regression. It is a proposal to break away from a growth-oriented way of life and to create a new framework for living. Working less, consuming less, and valuing quality over quantity?this is more than just an economic choice. It may be a strategy for survival on a planet in crisis and a path to reclaiming a more humane way of life.
In this era of post-growth, this book poses uncomfortable but essential questions: How much more can we really grow? And what awaits us at the end of that path?
The Illusion of Growth | Written by Ahn Hogi | Deulnyeok | 320 pages | 19,800 KRW
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