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Why politicians chasing economic growth is a lie | Radical Thinking with Aditya Chakrabortty

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Briefings

Radical Thinking with Aditya Chakrabortty features economists Karel Williams and Sukhdev Johal arguing that chasing economic growth is ineffective for the UK. They cite a 2016 South Wales report showing stagnant growth despite various government policies. The episode explores the consequences of this stagnation on towns and suburbs, suggesting that growth is not the solution to economic inequality.

Key points

• Economists Karel Williams and Sukhdev Johal argue that governments have failed to increase growth per person in the UK despite various policies.
• A 2016 report from South Wales examined the present-day reality of stagnant growth and high inequality in the UK.

Context

The episode features economists Karel Williams and Sukhdev Johal from the Foundational Economy Collective who challenge the idea that economic growth improves life outcomes. Their analysis is based on a 2016 South Wales report and broader UK economic data.

Limitations

The evidence is limited to the 2016 South Wales report and mentions of broader UK economic data. The article does not provide specific numbers for growth rates or inequality measures, nor does it offer causal claims about why policies failed.

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