Jørgen Randers - How to Stop Industrial Growth With Minimal Pain (1978)

Abstract

 

In order to reach material equilibrium in the economy, one must be able to control the total production volume of industrial sectors. The paper discusses three ways of stabilizing the size of an industrial sector. The no-nonsense appraoch entails direct regulation of the capacity of industrial plants. The manipulative approach softens the negative employment effects of direct regulation through a subsidy scheme. The enlightened public approach implies reduced material standards, as does the manipulative approach, but insures stable employment even at constant sector output.

 

Jørgen Randers (born 22 May 1945) is a Norwegian academic, professor emeritus of climate strategy at the BI Norwegian Business School, and practitioner in the field of future studies. His professional field encompasses model-based futures studies, scenario analysis, system dynamics, sustainability, climate, energy and ecological economics. He is also a full member of the Club of Rome, a company director, member of various not-for-profit boards, business consultant on global sustainability matters and author. His publications include the seminal work The Limits to Growth (co-author), and Reinventing Prosperity.