The Divide: Why We Need To Stop Obsessing Over GDP | Dr Jason Hickel

The world economy is growing – but not fairly. Only 5% of new income from global growth goes to the poorest 60% of humanity. At this rate, does GDP growth a meaningful solution to poverty? And given the reality of ecological breakdown, is growth even something we should pursue?

In this video, Dr Jason Hickel – author of The Divide – lays out how Gross Domestic Product fails to capture the big picture of global growth, and how GDP growth might even be destroying the ecosystems we depend on for our survival.

The Divide is aimed at anyone interested in how the global rich get richer while the poor stay poor; it’s your primer on why unfairness is baked into the world system – and what we can do to change it.

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Of the 2019 earnings from the growth of privately owned financial assets in the USA, if only 19% of that earnings growth were converted to capital gains it would wipe out the entire GDP growth for the year. This is what socialism for the wealthy is, for the majority of privately held financial assets belong to the top 1% and the producing/consuming economy has been unable to support this growth for many decades now.