THE last line of defence for advocates of indefinite global economic growth is that it is needed to eradicate poverty. This argument is at best disingenuous. By any reasonable assessment it is claiming the impossible.
Here’s why. During the 1980s, for every $100 added to the value of the global economy, around $2.20 found its way to those living below the World Bank’s absolute poverty line. During the 1990s, . This inequity in income distribution – more like a flood up than a trickle down – means that for the poor to get…
