Bill McKibben: Reversal of Fortune

Our continued devotion to growth above all is, on balance, making our lives worse, both collectively and individually. Growth no longer makes most people wealthier, but instead generates inequality and insecurity. Growth is bumping up against physical limits so profound -- like climate change and peak oil -- that trying to keep expanding the economy may be not just impossible but also dangerous. And perhaps most surprisingly, growth no longer makes us happier...

It was the great economist John Maynard Keynes who pointed out that until very recently, "there was no very great change in the standard of life of the average man living in the civilized centers of the earth." At the utmost, Keynes calculated, the standard of living roughly doubled between 2000 B.C. and the dawn of the 18th century -- four millennia during which we basically didn't learn to do much of anything new. Before history began, we had already figured out fire, language, cattle, the wheel, the plow, the sail, the pot. We had banks and governments and mathematics and religion.
And then, something new finally did happen. In 1712, a British inventor named Thomas Newcomen created the first practical steam engine. Over the centuries that followed, fossil fuels helped create everything we consider normal and obvious about the modern world, from electricity to steel to fertilizer; now, a 100 percent jump in the standard of living could suddenly be accomplished in a few decades, not a few millennia.