According to economist Peter Edward it is about time that the world leaders "forget" developing poor countries and it is about time that rich and highly-urbanized countries are de-developed. What does this mean?
Because a lot of countries are still poor, most traditional economists are saying that there should be more growth so that there will be lesser poorer countries. But in the past decades this has not shown to be correct. Richer countries continued to be accumulate wealth while poorer countries remained in destitute poverty. This then points to the argument that perhaps developing and growing the poor countries is not the answer but rather to slow down the growth of the richer countries.
What this means is reducing the amount of infrastructures and the number of the population. In a growing economy, the demand for more housing has increased. An increased housing demand means lesser land for agriculture. Lesser land for agriculture meant lesser food security. Apart from that, rapid urbanization also contributes to global warming.
What this idea also means is that people should be living efficiently. No further development is needed. We already have everything that we need and we just need to be efficient in utilizing the resources around us. Happiness after all is not measured in terms of wealth but in contentment with what we already have. That is why many poor countries are at the top when asked whether the people are happy or not.
The other angle we can look at is when there is reduced growth in highly-developed countries, hopefully there will also be a shift towards equal wealth distribution as the surplus could get channeled to the poorer countries.
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