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It's less that European democratic socialism has a growth focus, and more that the entire global financial system is built on the fundamental assumption of cont
by semi-extrinsic 3y ago
It's less that European democratic socialism has a growth focus, and more that the entire global financial system is built on the fundamental assumption of continuous growth.
In the presence of degrowth, what would a reasonable inflation target be for the central bank? What should the interest rate be? Should the government issue more debt? Under what circumstances should individuals or companies be eligible for incurring debt?
AFAIK, all of these questions don't have good answers so far, whether you are a capitalistic or a socialistic nation.
- RandomLensman 3y agoAs a policy it has its origins in improvement of sorts for large sections of the population - definitely it never advocated degrowth in its origins which predate the current financial system.