Climate Crisis and the Misconception of Growth

In the face of climate catastrophe, why have existing conceptions of collective life appeared so impervious to critique? One concept stands out: the idea of the economy and our preoccupation with its continued growth. For most people, including its critics, economic growth appears as the inevitable movement of capitalist society, driven by a process of technological improvement or an endless accumulation of capital. It is almost never connected to capitalization, or the capitalist modes of indebting and extracting payment from the future. Growth is better understood as a device for securing the repayment of debt. This does not make it any less damaging to collective well-being. But it does allow growth to be grasped not as the inevitable movement of capitalist development but as a more recent arrangement that arises from—rather than simply causing—a mode of living at the expense of the future.