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Side Effects of Growth

In: Accelerating Economic Growth

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  • Jakub Growiec

    (SGH Warsaw School of Economics)

Abstract

One important lesson from past evidence is that accelerating economic growth, fueled by the unstoppable human drive to maximize local control, tends to have mounting unintended side effects. This chapter discusses an array of ecological and psychological consequences of human local control maximization. Both types of effects have existed throughout the entire human history but were not clearly visible until relatively recently. Ecological side effects began to be felt most strongly after the industrial revolution, and psychological side effects—after the digital revolution. The chapter also tackles the issue of information overflow, or cognitive bandwidth problem, which increasingly stands in the way of informed decision making, from everyday life to global policy, and reduces the productivity of scientific research.

Suggested Citation

  • Jakub Growiec, 2022. "Side Effects of Growth," Frontiers in Economic History, in: Accelerating Economic Growth, chapter 0, pages 131-139, Springer.
    • Handle: RePEc:spr:frochp:978-3-031-07195-9_9
    DOI: 10.1007/978-3-031-07195-9_9
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