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Ferraris For All

In defence of economic progress

Daniel Ben-Ami

Book argues that, contrary to the spirit of the times, that more really is more, and less is less. High aspirations shd be encouraged, not disparaged.

We live longer and healthier, we are better educated, we do less physically exhausting work, we are better educated and informed.

None of this wd have happened without the concerted economic growth over the past 200 years. Not only do we have far more material possessions, mass affluence is closely linked to other forms of progress. It has provided a foundation for enormous advances in science, technology and medicine; connections to clean water and waste disposal. Culture in form of art, music and books, are available to all instead of a tiny elite.

Of course the world is far from perfect. But even amongst the poorest countries and societies, things are getting better. Those who associate growth with broader social problems have got it wrong. Greater affluence is usually a pre-condition for resolving the challenges facing humanity rather than their cause.

Article in Financial Times: In this mindset saving the planet demands that people give up their foreign holidays and abandon their cars, turn down the heating and brush their teeth in the dark. Through this prism, pain is a virtue and halting global warming metamorphs into a much broader attack on consumerism, materialism ad anything that smacks of market forces .... such zealotry is doomed to failure. Self-flagellation does not sell.

The campaign against popular prosperity is designed to put the masses in their place, below the elite in the social hierachy. The growth sceptics look at popular mass consumption with disdain while typically seeing their own tastes as suitably refined. So their travels are ok but they attack budget airlines and cheap travel.

Capitalism has delivered a huge increase in productivity. Joseph Schumpeter "The capitalist achievement does not consist in providing more silk stockings for queens but in bringing them within the reach of factory girls in return for steadily decreasing amounts of effort."

The increase in resources available to society brings greater social benefits. Richer societies can afford to send more on education health and infrastructure.

Until 200 years ago, most people lived on the edge of starvation. Now, although we have nearly 7 billion people, there are more obese people than starving.











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