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Wealth Transfers, Carbon Dioxide Removal, and the Steady State Economy

Posted On: Sep 18, 2020   |   Posted By: Steady State

Wealth Transfers, Carbon Dioxide Removal, and the Steady State Economy

By Brian Snyder
In 2019, the U.S. per capita GDP was $65,000. It seems obvious that this level of economic activity is more than sufficient to meet the needs of the U.S. population; after all, if we can't live fulfilled, productive lives in an economy producing $65,000 per person per year, more money and production will never be enough. Further, additional per capita economic growth in the USA is uneconomic. For example, economic growth to $75,000 per person per year will not increase our economic wellbeing nearly as much as it will decrease ecological wellbeing; hence, the justification for a steady state economy.
Just one example of wealth in the USA. Mansion in Newport, RI. (Image: CC BY 3.0 , Credit: silvervoyager )
But much of the world is not like the USA. Afghanistan's per capita GDP was $502 in 2019. Burundi's was $261, and the average per capita GDP in sub-Saharan Africa was less than $1600. In these nations, most citizens cannot meet their basic needs-food, water, sanitation, electricity,...

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