This article in Ecological Economics looks at economic growth, sustainability, and employment together:
Two empirical correlations are studied: one between economic growth and environmental impacts, and the other between the lack of economic growth and unemployment. It is demonstrated that, at a global level, economic growth is strongly correlated with environmental impacts, and barriers to fast decoupling are large and numerous. On the other hand, low or negative growth is highly correlated with increasing unemployment in most market economies, and strategies to change this lead to difficult questions and tradeoffs. The coexistence of these two correlations – which have rarely been studied together in the literature on “green growth”, “degrowth” and “a-growth” – justifies ambivalence about growth. To make key environmental goals compatible with full employment, the decoupling of environmental impacts from economic output has to be accompanied by a reduction of dependence on growth. In particular, strategies to tackle unemployment without the need for growth, several of which are studied in this article, need much more attention in research and policy.
I get it – growth and employment are often looked at together in the mainstream economic literature, obviously. Employment is pretty important to living standards and social/political stability. Sustainability and growth are often looked at together in the sustainability literature (which is “mainstream” to some, but not really to most economists). There is an obvious tradeoff between the two as long as our economy devours large amounts of natural resources and produces enormous amounts of waste and pollution. The idea of “decoupling” is that each unit of growth gets slightly greener and cleaner over time. But unfortunately, that process does not seem to be nearly fast enough to prevent eventual collapse. Damage to natural ecosystems is increasing and will eventually threaten the ecosystem services that our human civilization depends on. That is the trend we are on. The only two ways out are to slow growth or to accelerate the decoupling process. This article seems to focus on the former. My opinion is that this path is politically impossible unless it is precipitated by some serious crisis, which we can’t just sit around and wait for because it could cause enormous pain and suffering. So the latter option is the only hope. It is hard but entirely possible if enough people understand the situation and dedicate their efforts to make it happen.