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Prepare developed democracies for long-run economic slowdowns.
Burgess, Matthew G; Carrico, Amanda R; Gaines, Steven D; Peri, Alessandro; Vanderheiden, Steve.
  • Burgess MG; Cooperative Institute for Research in Environmental Sciences, University of Colorado Boulder, Boulder, CO, USA. matthew.g.burgess@colorado.edu.
  • Carrico AR; Environmental Studies Program, University of Colorado Boulder, Boulder, CO, USA. matthew.g.burgess@colorado.edu.
  • Gaines SD; Department of Economics, University of Colorado Boulder, Boulder, CO, USA. matthew.g.burgess@colorado.edu.
  • Peri A; Environmental Studies Program, University of Colorado Boulder, Boulder, CO, USA.
  • Vanderheiden S; Bren School of Environmental Science and Management, University of California Santa Barbara, Santa Barbara, CA, USA.
Nat Hum Behav ; 5(12): 1608-1621, 2021 12.
Article in English | MEDLINE | ID: covidwho-1526082
ABSTRACT
Developed democracies proliferated over the past two centuries during an unprecedented era of economic growth, which may be ending. Macroeconomic forecasts predict slowing growth throughout the twenty-first century for structural reasons such as ageing populations, shifts from goods to services, slowing innovation, and debt. Long-run effects of COVID-19 and climate change could further slow growth. Some sustainability scientists assert that slower growth, stagnation or de-growth is an environmental imperative, especially in developed countries. Whether slow growth is inevitable or planned, we argue that developed democracies should prepare for additional fiscal and social stress, some of which is already apparent. We call for a 'guided civic revival', including government and civic efforts aimed at reducing inequality, socially integrating diverse populations and building shared identities, increasing economic opportunity for youth, improving return on investment in taxation and public spending, strengthening formal democratic institutions and investing to improve non-economic drivers of subjective well-being.
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Full text: Available Collection: International databases Database: MEDLINE Main subject: Climate Change / Developed Countries / Democracy / Economics / Sociological Factors / COVID-19 Type of study: Prognostic study Topics: Long Covid Limits: Humans Language: English Journal: Nat Hum Behav Year: 2021 Document Type: Article Affiliation country: S41562-021-01229-y

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Full text: Available Collection: International databases Database: MEDLINE Main subject: Climate Change / Developed Countries / Democracy / Economics / Sociological Factors / COVID-19 Type of study: Prognostic study Topics: Long Covid Limits: Humans Language: English Journal: Nat Hum Behav Year: 2021 Document Type: Article Affiliation country: S41562-021-01229-y